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Federal Reserve Chair Jerome Powell’s comments after two days of policy meetings were not as hawkish as many had feared given that U.S. inflation and economic activity reaccelerated in the first quarter. While acknowledging that sticky inflation means interest rate cuts will come later than previously expected, Powell said officials had not seriously ...
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The Pound to Euro exchange rate (GBP/EUR) dipped to lows near 1.1680 in early Europe on Thursday before a recovery to near 1.1700. The Pound was undermined by a downbeat OECD assessment of the UK economy. In its latest update, the OECD downgraded the UK forecasts for this year and next with GDP growth forecast at just 0.4% for 2024 and 1.0% in 2025. ...
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