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The Federal Reserve has decided to keep interest rates steady between 4.25% and 4.5%, with Chair Jerome Powell indicating two potential rate cuts later in the year due to economic uncertainties exacerbated by trade tensions. This dovish approach has not positively influenced global equity markets, as evidenced by a largely negative trading day across Europe and Asia. Similarly, the People's Bank of China has maintained its key lending rates, balancing the need to support economic growth while addressing currency stability in light of ongoing trade frictions with the US. Overall, these central bank decisions reflect a cautious stance amid fluctuating economic conditions.