Bank of England keeps its main interest rate on hold at 5% in wake of big US Fed rate cut

LONDON (AP) — The Bank of England kept its main interest rate unchanged at 5% Thursday despite a big cut from the U.S. Federal Reserve, its first since the onset of the coronavirus pandemic more than four years ago. The decision was widely expected amid ongoing concerns about...

Federal Reserve signals end to inflation fight with a sizable half-point rate cut

WASHINGTON (AP) — The Federal Reserve on Wednesday cut its benchmark interest rate by an unusually large half-point, a dramatic shift after more than two years of high rates that helped tame inflation but also made borrowing painfully expensive for American consumers. The rate cut,...

The Federal Reserve is finally lowering rates. Here's what consumers should know

NEW YORK (AP) — The Federal Reserve has cut its benchmark interest rate from its 23-year high, with consequences for debt, savings, auto loans, mortgages and other forms of borrowing by consumers and businesses. On Wednesday, the Fed announced that it reduced its key rate by an...

Text of the policy statement the Federal Reserve released Wednesday

WASHINGTON (AP) — Below is the statement the Federal Reserve released Wednesday after its latest policy meeting ended: Recent indicators suggest that economic activity has continued to expand at a solid pace. Job gains have slowed, and the unemployment rate has moved up but remains...

Federal Reserve cuts key interest rate by a sizable half-point, signaling an end to its inflation fight

The Bank of England is widely expected to hold interest rates as inflation stays above target

LONDON (AP) — The Bank of England is widely expected to keep interest rates unchanged on Thursday, a day after official figures showed inflation in the U.K. holding steady at an annual rate of 2.2% in August, with higher airfares offset by lower fuel costs and restaurant and hotel bills. ...

US retail sales ticked up last month in sign of ongoing consumer resilience

WASHINGTON (AP) — Americans spent a bit more at retailers last month, providing a small boost to the economy just seven weeks before Election Day as the Federal Reserve considers how much to cut its key interest rate. Retail sales ticked up 0.1% from July to August, after jumping...

Argentina's President Milei presents 2025 budget, vowing austerity and setting up a showdown

BUENOS AIRES, Argentina (AP) — Libertarian President Javier Milei of Argentina presented the 2025 budget to Congress late Sunday, outlining policy priorities that reflected his key pledge to kill the country's chronic fiscal deficit and signaled a new phase of confrontation with lawmakers. ...

Will the Federal Reserve cut interest rates fast enough to deliver a 'soft landing'?

WASHINGTON (AP) — American consumers and home buyers, business people and political leaders have been waiting for months for what the Federal Reserve is poised to announce this week: That it's cutting its key interest rate from a two-decade peak. It's likely to be just the first in...

FACT FOCUS: A look at false claims made by Trump in California

In a press conference from his Los Angeles-area golf club, former President Donald Trump revisited several topics from Tuesday night's debate, repeating several false and misleading claims on issues including crime, the economy and immigration. Here's are the facts: ...