Market slips as Fed holds – New York Report September 17, 2015 THE S&P 500 and Dow industrials ended lower yesterday, giving up a one per cent rally in a choppy session, as investors struggled to interpret the Federal Reserve’s decision to hold off on raising interest rates. The Dow Jones industrial average fell 65.27 points, or 0.39 per cent, to 16,674.68, the S&P 500 lost 5.11 [...]
Federal Reserve interest rate decision: Fed leaves US interest rate unchanged September 17, 2015 The Federal Reserve decided to keep US interest rates unchanged today, confirming analysts’ suspicions that recent market turmoil would stay the bank's hand. The shaky global economy, recently dragged by turmoil in China after Black Monday, lay behind the Fed's decision to hold its fire and keep the interest rate at its zero to a [...]
Retail sales suggest UK economic growth to slow in the third quarter September 17, 2015 UK retail sales inched up in August – having dipped a month earlier – but a lack of strength is leading analysts to warn that UK growth is hitting a "soft patch" in the third quarter. Retail sales grew by just 0.2 per cent on a monthly basis, in line with expectations, according to the [...]
Fed rate hike: “I’ll eat The Economist if US interest rates rise,” wagers Radio DJ Ed Mitchell September 17, 2015 Share Radio broadcaster and former BBC business journo Ed Mitchell was big news last year when he successfully returned from the brink of an addiction to drink and gambling. Despite being a new man now, he has just made another wager – he’s promising to eat a copy of The Economist, page by page, live [...]
Four reasons why the Fed should not postpone a rate hike September 17, 2015 The probability of the US Federal Reserve ending seven years of near-zero interest rates September is stronger than is generally believed. While there is no perfect timing for the tightening monetary policy, several arguments confirm that the Fed is able to begin this month if it so desires. Here are the four we can see: The [...]
UK wages rise at the fastest pace in six years as employment unexpectedly falls September 17, 2015 The pound leapt against the dollar as official data showed UK wages rose at the fastest pace in six years, while employment unexpectedly fell. Annual average weekly earnings, excluding bonuses, increased by 2.9 per cent in the three months to July, the fastest growth since 2009. Including bonuses, average weekly earnings growth also rose by 2.9 [...]
Federal Reserve interest rates rise decision: Will she, won’t she? Janet Yellen’s hike dilemma – The City View September 16, 2015 It was seven years ago this week that the collapse of Lehman Brothers triggered a global banking crisis. And yet here we are, still speculating about when interest rates will start to return to anything resembling normal levels. Today, the US economy is steaming ahead. Granted, it may be having some trouble due to the [...]
Energy costs fall to dampen rises over Eurozone September 16, 2015 A STEEP drop in energy prices held down prices in the Eurozone in August, according to figures released yesterday by Eurostat, with officials dropping further hints that stimulus measures could be beefed up if necessary. Energy prices fell 7.2 per cent in July compared with the same month last year, dampening overall annual inflation which [...]
Eurozone prices rise amid hints of policy boost September 16, 2015 A STEEP drop in energy prices held down prices in the Eurozone in August, according to figures released yesterday by Eurostat, with officials dropping further hints that stimulus measures could be beefed up if necessary. Energy prices fell 7.2 per cent in July compared with the same month last year, dampening overall annual inflation which came [...]
Fed rate hike: As global markets hold their breath, should the Federal Reserve raise interest rates today? September 16, 2015 Shaun Port, chief investment officer at Nutmeg, says Yes After sending less than subtle messages to financial markets for more than two years that the days of always easy money are coming to an end, it is now time for the Federal Reserve to take the first step and raise rates. A small increase – [...]