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ECB Raises Interest Rates by 0.75 Point
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ECB Raises Interest Rates by 0.75 Point

The European Central Bank increased interest rates by three-quarters of a percentage point for the second time in a row, moving briskly to quash record inflation even as the eurozone teeters close to recession.#ECB #Raises #Interest #Rates #Point Source link

Brazil’s Central Bank Leaves Key Rate Unchanged at 13.75%
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Brazil’s Central Bank Leaves Key Rate Unchanged at 13.75%

The Central Bank of Brazil left its benchmark lending rate unchanged, but warned again that it is prepared to resume hikes if the country’s inflation doesn’t keep slowing as expected. The bank’s monetary policy committee, known as the Copom, left its key Selic rate at 13.75% for the second consecutive meeting. The committee had raised...

US economy likely returned to growth last quarter
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US economy likely returned to growth last quarter

WASHINGTON — The problems have hardly gone away. Inflation, still near a 40-year high, is punishing households. Rising interest rates have derailed the housing market and threaten to inflict broader damage. And the outlook for the world economy grows bleaker the longer that Russia’s war against Ukraine drags on. But for now anyway, the U.S....

Premarket stocks: Don’t be fooled by a strong GDP report
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Premarket stocks: Don’t be fooled by a strong GDP report

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. New York CNN Business  —  Imminent recession is the topic du jour. From Goldman Sachs to the IMF,...

China GDP: Hong Kong stocks plunge 6% as fears about Xi’s third term trump data
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China GDP: Hong Kong stocks plunge 6% as fears about Xi’s third term trump data

Hong Kong CNN Business  —  Hong Kong stocks had their worst day since the 2008 global financial crisis, just a day after Chinese leader Xi Jinping secured his iron grip on power at a major political gathering. Foreign investors spooked by the outcome of the Communist Party’s leadership reshuffle dumped Chinese equities and the yuan...

Pound holds ground as Rishi Sunak leads race to become UK prime minister
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Pound holds ground as Rishi Sunak leads race to become UK prime minister

London CNN Business  —  Britain’s third prime minister in seven weeks will face the huge challenge of projecting stability after a period of historic political and financial market chaos. But their other task — shepherding the country through a recession — is poised to be just as daunting. Rishi Sunak emerged over the weekend as...