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Banking

Fed keeps rates unchanged, Powell hedges on possible end of tightening campaign

Central bank's policy rate remains in 5.25%-5.50% rangeFed says economy grew at 'strong' pace in third quarterTraders add to bets that Fed is done raising ratesWASHINGTON, Nov 1 (Reuters) - The Federal Reserve held interest rates steady on Wednesday as policymakers struggled to determine whether financial conditions may be tight enough already to control inflation, or whether an economy that continues to outperform expectations may need still more restraint.Fed Chair Jerome Powell said the situation remained something of a riddle, with U.S. central bank officials willing to raise rates again...
Economy

Gold little changed with focus on Middle East conflict, US economic data

US Q3 GDP data due on Thursday, PCE price index on Friday$2000 still on the cards if MidEast tensions escalate-analystPlatinum down more than 1%Oct 24 (Reuters) - Gold held nearly steady on Tuesday after hitting a five-month high last week, while traders kept one eye on U.S. economic data and another on tensions in the Middle East.Spot gold ticked 0.1% higher at $1,975.39 per ounce by 12:42 p.m. ET (1742 GMT) after falling as much as 1% earlier in the session. U.S. gold futures settled 0.1% lower at $1,986.1."We saw...
Banking

Morning Bid: Five alive: US yield curve nears historic level

A passerby walks past an electric monitor displaying recent movements of various stock prices outside a bank in Tokyo, Japan, March 22, 2023. REUTERS/Issei KatoFile Photo Acquire Licensing RightsOct 20 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist.Another watershed day for U.S. Treasuries on Thursday - the entire curve came within a whisker of trading above 5% - is set to weigh heavily on Asian market sentiment on Friday and potentially seal one of the biggest weekly losses for regional stocks...
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