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Economic News and Analysis

The latest news and analysis about the health of the US economy.

Egypt Holds Key Rate Even as Inflation Shows Signs of Easing

(Bloomberg) -- Egypt held its benchmark interest rate steady on Thursday, opting to keep it at a record high even as double-digit inflation eased to the lowest level in two years.Most Read from BloombergHo Chi Minh City Opens First Metro Line After Years of DelayThe Monetary Policy Committee kept the deposit rate at 27.25% and the lending rate at 28.25%. The decision was in line with expectations, with all but one of 11 economists surveyed by Bloomberg predicting no change. Most economists see E

Bloomberg 2 hours ago

Oil Drifts in Slow Year-End Trade as Investors Weigh 2025 Risks

(Bloomberg) -- Oil drifted in thin end-of-year trading, with investors assessing the outlook for 2025 while tracking developments in the Middle East.Most Read from BloombergHo Chi Minh City Opens First Metro Line After Years of DelayBrent steadied near $73 a barrel, after shedding 0.4% on Thursday, while West Texas Intermediate held below $70 a barrel. A gauge of 10-day volatility for the US crude benchmark has ebbed to the lowest since 2021, with the same metric for Brent declining to the narro

Big Oil backtracks on renewables push as climate agenda falters

Major European energy companies doubled down on oil and gas in 2024 to focus on near-term profits, slowing down - and at times reversing - climate commitments in a shift that they are likely to stick with in 2025. The retrenchment by oil majors comes after governments around the world slowed the rollout of clean energy policies and delayed targets as energy costs soared following Russia's full-scale invasion of Ukraine in 2022. Big European energy companies that had invested heavily in the clean energy transition found their share performance lagging U.S. rivals Exxon and Chevron, which had kept their focus on oil and gas.

Gold Steadies as US Jobs Data Offer Few Clues on Fed’s Rate Path

(Bloomberg) -- Gold was steady in quiet, post-holiday trading, after mixed jobless claims data in the US did little to alter bets on the outlook for Federal Reserve interest rate cuts.Most Read from BloombergHo Chi Minh City Opens First Metro Line After Years of DelayBullion was near $2,633 an ounce, after rising 0.6% on Thursday, following a report that showed recurring applications for US unemployment benefits rose to the highest in more than three years — suggesting that it’s taking longer fo

Oil Dips in Thin Trading on Soft US Data, Natural Gas Outlook

(Bloomberg) -- Oil edged lower in light holiday trading on soft US jobs data and a retreat in natural gas futures. Most Read from BloombergHo Chi Minh City Opens First Metro Line After Years of DelayWest Texas Intermediate fell 0.7% to settle below $70 a barrel. US natural gas futures fell by more than 5% Thursday, dragging down the energy complex after forecasts pointed to lower-than-anticipated heating demand. Recurring applications for US unemployment benefits rose to the highest in more than

Repo Rates Rise Even After Fed Tweak Meant to Dampen Volatility

(Bloomberg) -- Key rates tied to the US overnight funding market are rising, even after the Federal Reserve adjusted some of its tools in an effort to rein in volatility.Most Read from BloombergHo Chi Minh City Opens First Metro Line After Years of DelayThe Secured Overnight Financing Rate — an important one-day lending benchmark linked to activity in the repurchase agreement market — jumped to 4.40% as of Dec. 24 from 4.31%, according to New York Fed data released Thursday. That leaves it in li

Gold advances in thin trade as investors mull Fed rate outlook

(Bloomberg) -- Gold rose in thin US holiday trading as investors digesting mixed domestic jobs data while mulling the outlook for Federal Reserve interest-rate moves.Most Read from BloombergHo Chi Minh City Opens First Metro Line After Years of DelayRecurring applications for US unemployment benefits rose to the highest in more than three years, adding to signs that it’s taking longer for out-of-work people to find a job.Continuing applications, a proxy for the number of people receiving benefit

US applications for unemployment benefits hold steady, but continuing claims rise to 3-year high

The number of Americans applying for unemployment benefits held steady last week, though continuing claims rose to the highest level in three years. Jobless claim applications ticked down by 1,000 to 219,000 for the week of Dec. 21, the Labor Department reported Thursday. The rising level of continuing claims suggests that some who are receiving benefits are finding it harder to land new jobs.

Bank of Thailand Sees Inflation in 1% to 3% Range Through 2026

(Bloomberg) -- Bank of Thailand expects inflation to stay within the 1% to 3% target range in the next two years, Governor Sethaput Suthiwartnarueput said, describing the band as appropriate and supportive of the nation’s growth potential.Most Read from BloombergHo Chi Minh City Opens First Metro Line After Years of DelayThe central bank chief said the inflation target, which has been kept for a fifth straight year, has “a proven track record of anchoring medium-term inflation expectations” and

Banks Sue Fed in Challenge to How Stress Tests Are Conducted

(Bloomberg Law) -- The Federal Reserve doesn’t allow for appropriate public input when designing bank stress tests, bank trade groups said in a lawsuit seeking to force the central bank to open the design of the tests to public comment.Most Read from BloombergHo Chi Minh City Opens First Metro Line After Years of DelayThe suit, filed Tuesday in the US District Court for the Southern District of Ohio, doesn’t seek to eliminate the annual stress testing and capital planning requirements that have