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Average five-year fixed mortgage rate is now 4.80 percent, which is still high compared with three years ago
Fed rate cut likely as inflation continues to decline
RBA sees easing wage pressures, but inflation battle persists
The increase, although expected, was slightly smaller than the 2.3 percent rise anticipated by analysts
The corporate goods price index hit a record high of 123.1, marking the eighth straight month of increases
Government data last week showed the layoffs rate in June was the lowest in more than two years
Nonfarm payrolls increased by 114,000 jobs last month, significantly below the 215,000 jobs per month added in the last 12 months
The BoE cut rates by 0.25 percent to 5.0 percent, a decision viewed as a close call
The report projected 2.1 percent U.S. economic growth in 2024, down from 2.5 percent in 2023
The eurozone's service sector inflation declined to 4 percent from 4.1 percent in June
The central bank raised its short-term policy rate to levels not seen since 2008, defying market expectations
This week, the U.S. Federal Reserve, the Bank of Japan and the Bank of England are holding monetary policy meetings
The solid growth is driven by resilient consumer spending and business investment
One-year loan prime rate (LPR) declined to 3.35 percent, while the five-year LPR was reduced to 3.85 percent
The Bank of England's interest reached a 16-year high of 5.25 percent in August 2023
Core U.S. retail sales rose 0.9 percent in June after a 0.4 percent unrevised gain in May
The Fund expected consumption boost from wage increases
IMF urges the U.S. government to reduce its high fiscal deficit and put debt on a downward trajectory
The BLS data also showed that consumer prices fell by 0.1 percent on a monthly basis
BOJ faces pressure to hike rates on its upcoming meeting
Reducing policy restraint too late or too little could unduly weaken economic activity and employment, Powell stated
Inflation in Europe's largest economy had already slackened to 2.3 percent in March, its lowest level since June 2021
Japanese companies project inflation to hit 2.3 percent three years from now and 2.2 percent five years later
Morgan Stanley analysts expect an August rate hike, which may further weaken domestic trading conditions
