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The US Federal Reserve is prepared to raise interest rates higher and hold them there to bring down above-target inflation, but will proceed "carefully" going forward, chairman Jerome Powell said Friday.- Navigating 'under cloudy skies' - Despite insisting the Fed could yet raise rates, Powell urged caution moving forward during his speech Friday. ....
Many times, the threat of action is more potent than the action itself. For inflation expectations to be under control, markets need to believe that the central bank won’t rest until 4 percent inflation is achieved ....
BEIJING (Reuters) -A broad array of Chinese data on Tuesday showed the economy slowed further last month, intensifying pressure on already faltering growth and prompting authorities to cut key policy rates to shore up activity. Less than an hour before the release of a batch of July data, China's central bank unexpectedly cut key policy rates for the second time in three months, underlining the rapid loss of the post-COVID economic rebound that has shaken global financial markets. Industrial output grew 3.7% from a year earlier, slowing from the 4.4% pace seen in June, data released by the National Bureau of Statistics (NBS) showed on Tuesday. ....
BEIJING (Reuters) -A broad array of Chinese data on Tuesday highlighted intensifying pressure on the economy from multiple fronts, prompting Beijing to cut key policy rates to shore up activity but analysts say more support is needed to revitalise growth. Just before the release of a batch of July data, China's central bank unexpectedly chopped one set of key interest rates, and followed it with cuts on other rates hours later, underlining the rapid loss of the post-COVID economic rebound that has shaken global financial markets. Tuesday's data released by the National Bureau of Statistics (NBS), which comes on top of a raft of weak indicators from last week, showed retail sales, industrial output and investment all growing at a slower than expected pace - indicating the engines of business and consumption in the world's second-biggest economy were severely underpowered. ....