EUR/USD
1.16474
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Gold
3376.17
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Oil
63.515
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USD/JPY
147.509
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GBP/USD
1.34797
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Real-time News
On August 26, Paul Dales, chief UK economist at Capital Economics, said that the Bank of England must speed up its interest rate cuts if it wants to inject vitality into the UK economy. The banks Monetary Policy Committee has cut the base interest rate by 25 basis points to 4.00% this month, moving it further away from the high of 5.25% maintained last summer. However, the central bank remains cautious about the subsequent policy path, emphasizing that inflationary pressures continue to plague the UK economy. Dales believes that this will cause interest rate makers to hold back in the short term, but inflation should begin to fall continuously by the first half of next year. He wrote in a report to investors: "Once the central banks concerns about inflation ease significantly, it may need to cut interest rates faster and faster than generally expected to support economic growth."Trump Media & Technology Group (DJT.O) shares rose 2.9% in pre-market trading.The monthly rate of durable goods orders in the United States excluding defense in July was -2.5%, in line with expectations of -3.6%. The previous value was revised from -9.4% to -9.5%.The monthly rate of U.S. non-defense capital durable goods orders excluding aircraft in July was 1.1%, in line with expectations of 0.2%. The previous value was revised from -0.80% to -0.6%.The monthly rate of durable goods orders in the United States excluding transportation was 1.1% in July, in line with expectations of 0.2%. The previous value was revised from 0.20% to 0.3%.
