A 25-basis-point reduction in interest rates from 5.25% to 5.0% has been announced by the Bank of England, marking a watershed event. The decision follows expectations, and the British central bank reportedly pulled off this U-turn with a razor-thin majority. With this move, the wheels are in motion for more
The United States announced the Fed rate has kept steady at 5.25%–5.50% on Wednesday. Federal Reserve Chair, Jerome Powell, signals a rate cut during the September meeting. This could happen if economic data continues at the proper pace. The Powell-led panel ended its fifth policy-setting meeting for 2024 on July
The Bitcoin (BTC) market displayed selling pressure soon after the US Federal Reserve’s meeting on Wednesday, July 31. The cryptocurrency’s value fell by 6% and landed in the $63,000 zone. This drop marks the first time Bitcoin has slipped below $65,000 since July 25, according to CoinMarketCap data. Federal Reserve
On July 26, 2024, the Federal Reserve Board stated that Silvergate Bank and the Silvergate Capital Corporation would not be subject to any further enforcement actions. The notice states that the board’s enforcement action was halted since Silvergate was able to wind down its activities, reimburse clients, and cease to
The Federal Reserve will likely not wait for the inflation to fall below 2% before decreasing interest rates, according to Federal Reserve Chair Jerome Powell. Although it is still higher than the Federal Reserve’s 2% objective, recent data from the US Labor Department reveals that inflation is dropping to 3%.
Since US stocks have turned around, Bloomberg analyst Mike McGlone predicts that the Fed will soon reduce interest rates. At a critical juncture in the economic landscape after the pandemic, this prediction arrives as the Federal Reserve has been sending mixed signals on a possible change in monetary policy. It
Crypto markets and the rest of the global financial industry were waiting with bated breath for today’s US CPI numbers. Notably, compared to Wall Street’s predictions, the most recent figures from the U.S. Labor Department show that inflation slowed to 3% in June. Market mood, which had been hurt recently
The latest congressional testimony by Federal Reserve Chair Jerome Powell revealed strong desire to have stablecoin legislation passed before the year closes. Recently, Fed Chair Jerome Powell voiced his support for stablecoin regulation. Rep. Wiley Nickel asked Powell about the Federal Reserve’s stance on stablecoin regulation. And Powell said that
On Thursday, July 11, the crypto market players are anticipating the publication of the U.S. Consumer Price Index (CPI) statistics with great anticipation. Crucial inflation statistics may set the tone for the Fed’s future position with their policy rate plans, therefore the whole financial market will closely monitor it. Everyone
Investors and traders are putting their faith on Friday’s U.S. employment data to contain the unstoppable fall in bitcoin (BTC) prices. Bitcoin fell below $54,000 in early Friday trading after news spread that the now-defunct Mt. Gox exchange had transferred $2.6 billion worth of bitcoin, purportedly to pay off creditors.
