Business


United Kingdom inflation rate rises to 2.9%

The so-called core CPI, which strips out food and energy costs, edged up 0.1 percent last month after a similar gain in April. Food inflation is easing further in June on a good summer rabi harvest and this should pull June inflation below 2 per cent.



Federal Reserve Raises Rates For Third Time Since December

Fed officials reiterated their belief that that both inflation and economic growth will pick up. Data earlier Wednesday showed US consumer prices unexpectedly fell in May, suggesting a softening in domestic demand. Those limits would ultimately rise to a maximum of $30 billion per month for Treasuries and $20 billion per month for mortgage securities. The labor force participation rate fell slightly to 62.7 percent, continuing to trend at its lowest rate since the late 1970s.



Fed hikes key rate and unveils bond trimming plans

The euro, after earlier rising to its highest level against the dollar since November 9, was last little changed at $1.1215. It reached session high at 1.2813 and dropped to session low at 1.2722 levels. The currency's weakest level of the session was C$1.3270, while it touched its strongest since February 28 at C$1.3165. Stocks closed little changed on Wednesday after the Federal Reserve raised its benchmark interest rate as investors had expected.



Five Things to Know About the Latest Federal Reserve Rate Hike

But the Fed indicated it likely would increase short-term rates one more time this year, and three times in 2018. In lifting its benchmark lending rate by a quarter percentage point to a target range of 1.00 per cent to 1.25 per cent and forecasting one more hike this year, the Fed seemed to largely brush off a recent run of mixed economic data .



Chelsea start against Burnley

In the opening round, Brighton's first ever Premier League game is at home against Man City, while Huddersfield's first top-tier game since 1972 is at Crystal Palace . They will hope to avenge that result in the second week of the season and strike an early blow in the title race having finished seven points behind Chelsea last campaign, but not before visiting a Newcastle side that handed them a high-profile 5-1 humiliation on the final day of 2015-16 when already relegated to ensure ...



Federal Reserve raises rates, gives details on balance sheet reduction

Additionally, markets will be attentive to the Fed statement and press conference for any changes to economic growth or inflation outlooks, as well as any additional details regarding balance sheet normalization. If inflation doesn't pick up, he said, the Fed will find that raising rates and reducing its balance sheet is "going to be a hard maneuver". They now expect prices excluding food and energy to rise 1.7% this year, from a projection of 1.9% in March .