Federal Reserve keeps key rate unchanged and still foresees 3 rate cuts this year
WASHINGTON (AP) — Federal Reserve keeps key rate unchanged and still foresees 3 rate cuts this year.
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ReutersFed's paper losses top the $200 billion mark
U.S. Federal Reserve losses crossed the $200 billion point this week, according to data released on Thursday by the central bank. The Fed reported that as of Wednesday, the level of its so-called earnings remittance to the Treasury Department stood at negative $201.2 billion. The number represents a paper loss that central bank officials have noted does not impair their ability to conduct monetary policy.
- The Telegraph
When interest rates will fall – and what it means for your mortgage
Those waiting for more significant cuts to Britain’s Bank Rate are likely to see some more movement by the end of the year.
- Reuters
Bumper Fed rate cut supercharges central banks' easing cycle in September
Led by the U.S. Federal Reserve, developed market central banks in September delivered their biggest interest rate cut push since the easing wave at the onset of the COVID-19 pandemic, while Brazil kicked off a fresh tightening cycle. Five of the nine central banks overseeing the 10 most heavily traded currencies that held meetings in September lowered benchmarks. The Fed delivered a bumper 50 basis point (bps) rate cut to kickstart its easing cycle while Sweden, Switzerland, Canada and the euro area shaved off 25 bps.
- Reuters
Surging jobs, wages, keep Fed base case of quarter point cuts on track
WASHINGTON (Reuters) -U.S. Federal Reserve concerns about a slowing job market were relieved for at least another month when new data on Friday showed job growth jumped and the unemployment rate fell in September, adding to investor bets the central bank will cut its benchmark rate only a quarter of a percentage point next month. In comments this week Fed Chair Jerome Powell had noted the "tension" between steady economic growth and a perceived weakening of the job market, and said it was likely jobs data would prove a better gauge of where the economy stood. On that front September's data buttressed the views of policymakers who feel the current economic expansion has momentum, and the unemployment rate, now 4.1%, able to remain around what many Fed policymakers consider to be full employment.
- Reuters
Morning Bid: PMIs to pave the way for rate cuts
Services PMIs due across Europe on Thursday are likely to show further moderation in activity and cement expectations for rate cuts in the region, while potential rate moves in New Zealand and the U.S. are also in focus. Investors are already betting the European Central Bank will cut rates by 25 basis points at its next two meetings, in October and December, after top hawk Isabel Schnabel sounded more sanguine about inflation coming under control. While services are expanding in Britain, the composite PMIs in Germany and elsewhere in Europe are expected to continue showing contraction in data for September.
- The Telegraph
Billionaire Mulberry owner charged in corruption investigation
Mulberry’s billionaire owner has been charged in Singapore for his role in a scandal involving thousands of pounds’ worth of gifts he gave to a former government minister.
- The Telegraph
Teacher struck off for having sex with pupil complains about stigma caused by offence
A teacher who was struck off for having sex with a pupil has complained of being stigmatised because of her offence.
- INSIDER
Iran's massive missile strike on Israel is just a fraction of what China could do
China boasts a massive, ever-expanding missile force that could make war in the Pacific devastating for the US and its allies.
- The Telegraph
‘America will be furious and Beijing delighted’: How Starmer handed Chagos to China
Nigel Farage has claimed that “our American allies will be furious and Beijing delighted” after Sir Keir Starmer gave up the Chagos Islands.
- The Telegraph
IDF assassinates right-hand man of Hamas leader Sinwar
Israel has said it has assassinated the “right-hand man” of Hamas leader Yahya Sinwar.
- People
Jennifer Aniston Got 'Endless Texts' After Photos of Her Getting Hit with Oil on “The Morning Show” Set Went Viral
The actress pulled back the curtain on that viral moment while filming the Apple TV+ series
- Evening Standard
Erik ten Hag told Manchester United star who should be dropped for crunch Aston Villa clash
Red Devils boss surely has to get his team selection right for pivotal Villa Park trip after Porto drama
- Cinema Online
Ye Ke was a part of a socialite training camp?
Netizens dug photos of Ye Ke posing and wearing clothes similar to another influencer
- CNN
The C919 is China’s answer to the A320. But what is it like onboard?
CNN’s Beijing bureau chief shares his experience flying on China’s first homegrown mainline passenger plane.
- Cosmopolitan
Ben Affleck's Longtime Friend Kevin Smith Is Out Here Spilling About His Divorce from J.Lo
Kevin Smith did an interview and spilled about Ben Affleck and J.Lo's divorce—check out his quotes.
- The Telegraph
Dire Matthijs de Ligt was bullied and bamboozled – he must be taken out of the firing line
It was last month that Ronald Koeman revealed he substituted Matthijs de Ligt for his own good. At fault for both of Germany’s goals in a 2-2 draw, the Netherlands defender was taken off at half-time to spare him any more humiliation, just days after an unconvincing showing against Bosnia & Herzegovina.
- INSIDER
A woman who lost 159 pounds shared how her diet changed before and after
Maria Kirkeland made changes to her diet slowly, such as gradually swapping fries for potatoes (but not always).
- People
Woman Discovers Rug Buried in Her Lawn — and the Internet Is Convinced It’s a Dead Body (Exclusive)
The house was built in 1967, and only one family had lived there before Katie Santry and her family moved in
- Hello!
Prince George's daring new hobby revealed – 'He absolutely loves it'
Prince George has been able to experience a lot of things during his life and during a meeting with Olympic stars, Prince William revealed that the youngster had a new hair-raising new hobby
- The Independent
Trump refuses to release medical records as concerns about him being the oldest possible president grow
Trump is nearly 80-years-old, loves steak and Big Macs, was hospitalized with Covid-19, and has been shot, but has maintained his health is fine