Russia's MOEX Index gained 0.96% to 2,165.54 points, and RTS Index rose 1.44% to 874.26, after the Central Bank's unexpected 25-basis-point interest rate cut to 14%, surprising market consensus expecting a pause.
Andy Burnham's proposed 20% business rate reduction for pubs, clubs, and music venues, costing £100m, aims to support high streets. While welcomed as a gesture, industry figures like pub owner Dan Smith and consultant Colm O'Leary view the £1,000 average saving as insufficient compared to other rising costs like VAT and staffing.
The Bank of Russia may pause its key rate-cutting cycle at its upcoming meeting, influenced by recent domestic fuel market events impacting inflation dynamics and rising inflation expectations, according to experts.
New Federal Reserve Chair Kevin Warsh affirmed the central bank's independence and commitment to bringing down inflation, signaling a departure from President Trump's calls for lower rates. He declined to offer forward guidance on specific policy moves, despite market expectations of a September rate hike.
Federal Reserve Chair Kevin Warsh asserted the central bank's independence and commitment to curbing inflation, indicating no tolerance for inflation above 2%. This stance likely forecloses the rate cuts sought by President Donald Trump, marking a shift in Warsh's views since becoming chair.
New Federal Reserve Chair Kevin Warsh stated the central bank will remain independent and prioritize bringing down inflation, likely disappointing President Donald Trump's calls for lower interest rates. Warsh's comments, made in Portugal, suggest a shift from his previous stance.
With inflation exceeding 4% and new Fed Chairman Kevin Warsh in place, the Trump administration has softened its immediate calls for interest rate cuts. While President Trump still desires lower rates, his economic advisors now suggest a "hold-steady case" for the Fed, influenced by elevated energy prices from the Iran conflict and confidence in Warsh's independence.
Bitcoin's price dropped below $60,000, reaching its lowest since October 2024, as traders abandoned interest-rate cut expectations and began pricing in a potential Federal Reserve hike. This led to a cascading liquidation event across the broader crypto market, with over $1 billion in derivatives contracts forcefully closed.
US initial jobless claims fell to 226,000 for the week ending June 13, indicating a strong labor market. This resilience pushes back expectations for Federal Reserve rate cuts, causing Bitcoin to slide below $64,000 as it's sensitive to liquidity and interest rate expectations.
The Bank of Russia lowered its key interest rate to 14.25% from 14.5%, a smaller cut than anticipated. Factors influencing the decision include increased war spending, Western sanctions, and a fuel crisis exacerbated by Ukrainian drone strikes on Russian refineries.
Goldman Sachs lowered its year-end gold price forecast by $500 to $4,900, anticipating no US Federal Reserve interest rate cuts this year, potentially pushing them to March and December 2027. This cautious outlook also impacts cryptocurrencies.
The Trump administration will offer federal student loan borrowers a 1% interest rate reduction if they sign up for autopay, starting July 1. Borrowers have until Sept. 30 to enroll for the discount, which lasts until June 30, 2028.
Fed officials removed their rate cut outlook for this year, indicating a hike is possible. Member Warsh declined to submit his forecast for the "dot plot," criticizing the tool and signaling a review of Fed communication. Projections now show a median fed funds rate of 3.8% by year-end 2026.
UK inflation held steady at 2.8% in May, defying expectations of a rise. This suggests the Middle East conflict's impact on living costs may be less severe than feared, despite high fuel prices. Economists are downgrading inflation forecasts and questioning future interest rate hikes.
US inflation remains high at 4.2% in May, driven by energy prices due to geopolitical tensions. Prediction markets show a 79% chance of no Fed rate cuts in 2026, impacting cryptocurrencies which historically perform better with accommodative monetary policy.
美國5月CPI年增4.2%，創3年新高，主因能源價格飆漲。核心CPI年增2.9%，符合預期。此數據為聯準會維持高利率至2027年提供基礎，降息機率渺茫。
Expert RA CEO Marina Chekurova predicts the Bank of Russia will cut its key rate by 50 basis points on June 19, with further gradual reductions to 12% by December. She noted the economic situation warrants a faster cut but warned external shocks or accommodative fiscal policy could slow easing.
A reported US-Iran deal framework could ease oil prices and inflation, boosting Bitcoin. However, the rally is conditional on physical energy data, inflation readings, and Fed policy confirmation, not just geopolitical optimism.
Federal Reserve April meeting minutes revealed a hawkish shift, with policymakers indicating potential tightening if inflation persists above 2%. This dashed Bitcoin traders' hopes for rate cuts, as the market now prices in a higher likelihood of hikes, impacting liquidity and risk appetite for assets like BTC.
Market analyst Lawrence Lepard predicts new Fed chair Kevin Warsh will cut interest rates in 2026, citing AI productivity and transitory inflation, despite market consensus for hikes. President Trump's focus on "growth" and managing national debt also suggests a lower rate regime.
Kevin Warsh has been sworn in as the new Chair of the US Federal Reserve (Fed). President Donald Trump expressed confidence in Warsh's ability to restore trust in the institution and focus on economic growth, while also reiterating his expectation of upcoming interest rate cuts.
Kevin Warsh was sworn in as the new chairman of the US Federal Reserve on Friday. Despite President Trump's claims of economic growth and independence for the Fed, investors anticipate no interest rate cuts in 2026, with some forecasting potential hikes.
Kevin Warsh was sworn in as the new leader of the US Federal Reserve on Friday, a pivotal moment for monetary policy and the American economy. Accompanied by his wife, Jane Lauder, Warsh took the oath administered by Supreme Court Justice Clarence Thomas.
Despite President Trump's appointment of Kevin Warsh as the new Federal Reserve chair, analysts suggest immediate interest rate cuts are unlikely due to rising inflation. Market sentiment favors a potential rate hike later this year, with long-term bond yields already at a 17-year high.
