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An update on latest developments in the US economy



The Swiss National Bank cut its key rate to 1.50%, surprising markets as the first major central bank to lower rates post the 2022/23 hike cycle, citing effective inflation control and improved economic growth forecasts, aiming to support economic activity without undue pressure.



The possibility of a “technical default” by the US has been raised as the current debt limit for the US government, set by law, is expected to be hit sometime during the summer.



Jerome Powell spoke yesterday in the US Senate to present the Fed’s semi-annual monetary policy report. The Fed’s Chair took this opportunity to reiterate the commitment of the Fed in bringing inflation lower.



Yesterday, the Fed's FOMC tightened interest rates for the first time since December 2018. This first step came as no surprise to investors around the world.



Today, the European Central Bank held its monetary policy meeting. This session was highly anticipated in the current context of high uncertainties due to the situation in Ukraine, and already high and rising inflation even before the war started. Here are three questions answered to help shed light on today’s ECB meeting.




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