U.S. GDP Growth Accelerates to 2.8% in Q2 2024
The U.S. economy grew by 2.8% in Q2 2024, up from 1.4% in Q1, driven by increased consumer spending but offset by a slowdown in business investment due to high interest rates.
Interest Rates
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China Lowers Lending Rates to Boost Economic Recovery
China has reduced its benchmark lending rates to stimulate the economy, lowering both the one-year and over-five-year loan prime rates. The move aims to reduce financing costs and bolster economic growth.
Global Economy Strained as U.S. Fed Maintains High Interest Rates
The U.S. Federal Reserve’s decision to maintain high interest rates continues to strain the global economy, with emerging markets facing currency depreciation and liquidity challenges.
Stephen Innes: Fed Needs to Reconsider Rate Hikes Amid Global Economic Recovery
Stephen Innes of SPI Asset Management urges the Federal Reserve to reconsider its rate hike policies, highlighting the need to account for global economic recovery and prevent potential currency crises.
China Maintains Benchmark Lending Rates Amid Real Estate Policy Shifts
China’s central bank keeps benchmark lending rates unchanged in May, maintaining the one-year LPR at 3.45% and the over-five-year LPR at 3.95%. Experts highlight potential impacts on the real estate market.
Global Ripple Effect: U.S. Inflation Poses Risks to Developing Economies
U.S. inflation surge poses significant risks to global economies, particularly impacting developing nations through high interest rates and economic instability.
ECB Keeps Interest Rates Steady at Record Highs
The European Central Bank has held its key interest rates steady at record highs, signaling a cautious approach amid global economic uncertainties.
Bank of Japan Ends Negative Rates, First Hike in 17 Years Marks Policy Shift
The Bank of Japan has ended its negative interest rate policy with its first rate hike in 17 years, signaling a significant shift from its longstanding monetary easing to combat deflation.
China Lowers Over-Five-Year Loan Prime Rate to 3.95%, Impacting Mortgage Rates
China’s over-five-year loan prime rate (LPR), which influences mortgage rates, has been reduced to 3.95% from 4.2%, while the one-year LPR remains at 3.45%.
Australia’s Central Bank Keeps Rates Steady at 12-Year High of 4.35%
Australia’s central bank holds interest rates steady at 4.35%, maintaining a 12-year high amid ongoing inflation concerns and signaling possible future hikes.
Fed’s Decision to Maintain High Rates Raises Recession Fears
The U.S. Federal Reserve’s decision to keep interest rates high has sparked recession concerns. Experts warn that sustained high rates could pose significant risks to the U.S. and global economies.
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