Central Banks in Europe Cut Rates
A wave of interest rates washed over Europe this morning as several central banks issued interest rate cuts. The European Central Bank lowered its rate to 2.5 from 3.25 percent, the Bank of England shaved off a full percentage point to 2 percent, and Sweden’s Riksbank chopped a record 1.75 percentage points. More
Euro Weaker After ECB Rate Cut
The euro is down against the dollar this morning following a rate cut by the European Central Bank which lowered short-term interest rates to 2.5 percent. More
US New Job Claims Less Than Expected
The US Labor Department reported this morning that new job claims for unemployment insurance fell to 509,000 when adjusted for seasonal employment. This was lower than the estimated 537,000 but still represent a 26-year high. More
GM and Chrysler May Consider Bankruptcy
General Motors and Chrysler LLC may both consider a pre-arranged bankruptcy as the final step in securing emergency funding from the US government. More
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.