Oil prices slipped from 2019 highs on Wednesday as soaring U.S. production and expectations of an economic slowdown undermined efforts led by producer club OPEC to cut supply to tighten global markets.
High-end home prices are being slashed by as much as 30 percent. Many metro areas are succumbing to downward pressure from the U.S.-China trade war, uncertainty in Europe, rising interest rates, or a combination of all three.
Tensions With U.S.; Syria Withdrawal; American Leadership
President Donald Trump vowed on Thursday to declare a national emergency in an attempt to fund his U.S.-Mexico border wall without congressional approval, a step likely to plunge him into a court battle with Congress over constitutional powers.
Reserve Bank of Australia decided to leave the cash rate unchanged at 1.50 per cent.
The Official Cash Rate (OCR) remains at 1.75 percent. We expect to keep the OCR at this level through 2019 and 2020. The direction of our next OCR move could be up or down.
Congressional negotiators reached a tentative deal on border security that would give President Donald Trump far less money than he’d demanded for new barriers and would avert another government shutdown.
Bank Rate maintained at 0.75%. Our Monetary Policy Committee has voted unanimously to maintain Bank Rate at 0.75%. The committee also voted unanimously to maintain the stock of corporate bond purchases and UK government bond purchases.
European Central Bank (ECB) decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.00%, 0.25% and -0.40% respectively.
Committee decided to maintain the target range for the federal funds rate at 2-1/4 to 2-1/2 percent. Be patient as it determines what future adjustments to the target range