The U.S. Federal Reserve cut interest rates by 0.25% to 4.5%-4.75% as inflation cools and labor market weakens. This follows a weak October jobs report, showing only 12,000 new jobs, and downward revisions for August and September. The easing cycle began in September with a 0.5% cut.
The U.S. Federal Reserve on Thursday slashed interest rates by 25 basis points amid cooling inflation and a weakening labor market, marking the second rate cut in this easing cycle.
Since earlier in the year, labor market conditions have generally eased, and the unemployment rate has moved up but remains low. Inflation has made progress toward the Committee's two percent objective but remains somewhat elevated, the Federal Open Market Committee (FOMC), the central bank's policy-setting body, said in a statement.
In support of its goals, the Committee decided to lower the target range for the federal funds rate by 0.25 percentage point to 4.5 percent to 4.75 percent, the statement said.
The Fed's latest decision came after a weak employment report, which showed that U.S. employers added only 12,000 jobs in October, amid a cooling labor market. This slowdown was exacerbated by a strike and the impact of recent hurricanes.
The latest report also revised down employment for August and September, to a gain of 78,000 and a gain of 223,000, respectively. With these revisions, employment in the two months combined is 112,000 lower than previously reported.
After its Sept. 17-18 meeting, the central bank slashed the target range for the federal funds rate by 50 basis points, which marked the first rate cut in over four years and signaled the start of an easing cycle.
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Kazakh President Kassym-Jomart Tokayev has called for closer security coordination between Central Asia and China, warning that expanding trade and...
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A new United Nations report unveiled at the 13th Session of the World Urban Forum (WUF13) in Baku warns that the global housing crisis is worsening...
Iranian Foreign Minister Abbas Araghchi said Tehran remained committed to reaching a diplomatic settlement with the U.S. while continuing to streng...
Germany will deploy a Patriot air-defence battery to Türkiye in the coming weeks as part of a NATO mission aimed at strengthening the alliance’s south-eastern flank, German officials have said.
Kazakh President Kassym-Jomart Tokayev has called for closer security coordination between Central Asia and China, warning that expanding trade and infrastructure links are exposing the region to increasingly sophisticated cross-border threats.
A new United Nations report unveiled at the 13th Session of the World Urban Forum (WUF13) in Baku warns that the global housing crisis is worsening rapidly, with nearly 40% of the world’s population living in inadequate, unsafe or unaffordable housing.
Iranian Foreign Minister Abbas Araghchi said Tehran remained committed to reaching a diplomatic settlement with the U.S. while continuing to strengthen its defensive capabilities amid ongoing regional tensions.
The World Urban Forum (WUF13) continues in Baku, Azerbaijan on 18 May, addressing the global housing crisis. The day’s agenda includes the official opening press conference, the WUF13 Urban Expo opening and a ministerial dialogue on the Nairobi Declaration to advance Africa's urban agenda.
United Nations World Urban Forum 13 continues in Baku, Azerbaijan on 19 May with sessions and roundtable discussions focused on strengthening dialogue and advancing cooperation in urban development. Organisers say there are nearly 3 billion people globally who face some form of housing inadequacy.
U.S. President Donald Trump said on Monday he had paused a planned attack on Iran after appeals from the leaders of Qatar, Saudi Arabia and the United Arab Emirates, allowing negotiations to continue over a possible deal to end the conflict.
A 5.2 magnitude earthquake struck China’s Guangxi region early on Monday, killing two people and forcing more than 7,000 residents in Liuzhou to evacuate as rescue efforts continued.
The World Health Organization (WHO) has declared an Ebola outbreak in the Democratic Republic of Congo (DRC) and Uganda a Public Health Emergency of International Concern (PHEIC), warning that the situation poses a significant risk of cross-border spread in Central Africa.
Government bond markets from Tokyo to New York extended losses on Monday (18 May) as rising energy prices linked to the Middle East conflict heightened inflation concerns and reinforced expectations that major central banks could keep interest rates higher for longer.
Negotiations between Samsung Electronics and its workforce on Wednesday have broken down, officials said, raising fresh concerns over potential disruption to South Korea’s export-heavy economy.
By the time American shoppers began noticing higher prices on everything from trainers to televisions, the world's two largest economies were already deep in a trade war that left the world wondering how it would end.
The Strait of Hormuz remains a vital maritime chokepoint and serves as the primary artery linking the Persian Gulf to international energy markets. With approximately 20% of global oil and gas shipments transiting this waterway, it is the backbone of energy security for Asia, Europe, and beyond.
China’s exports grew faster than expected in April, as overseas buyers moved quickly to secure supplies amid fears that the conflict involving Iran could drive up global energy and transport costs.
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