The Federal Reserve left its benchmark lending rate unchanged Wednesday, saying there have been "some signs of stabilization" in the unemployment rate. The central bank's Federal Open Market Committee held interest rates steady in a range of 3.50% to 3.75%, in line with Wall Street's expectations.
* Indexes: Dow down 0.01%, S&P 500 down 0.09%, Nasdaq up 0.10% * Fed keeps rates steady, cites stabilizing jobs market, high inflation. * Traders still bet first rate cut will be in June. * Investors wait for Mag 7 earnings. By Sin?ad Carew and Pranav Kashyap.
The Federal Reserve held interest rates steady on Wednesday, as was widely expected, citing still-elevated inflation alongside solid economic growth, and giving little indication in its latest policy statement of when borrowing costs might fall again.
The Federal Open Market Committee maintained the federal funds rate target at 3.5% to 3.75% and made only modest adjustments to its statement on Wednesday, which largely kept the same message as in December. There were dissents from Fed Governors Stephen Miran and Christopher Waller, who preferred a 25-basis point rate reduction.
The U.S. dollar held gains against ?the euro and ?the yen on ?Wednesday after the ?U.S. ?Federal Reserve kept ?interest rates ?steady, citing still-elevated inflation alongside ?solid ?economic ?growth, and gave little indication in its ?latest policy statement of when borrowing costs might fall again.
U.S. Treasury yields extended their gains on ?Wednesday after the ?Federal Reserve left interest ?rates steady, ?as ?widely expected, and noted ?inflation remained ?elevated and the labor market ?continued to ?stabilize. Following ?the Fed decision, the benchmark 10-year ?yield gained 4.2 basis points to 4.265%, compared with 4.259% just ?before.
The Federal Reserve kept the federal funds rate unchanged at 3.5%?3.75% on Wednesday, putting its easing cycle on hold after three rate cuts last year that brought borrowing costs to their lowest since 2022.
The U.S. dollar held gains against ?the euro and ?the yen on ?Wednesday after ?the ?U.S. Federal Reserve kept interest ?rates ?steady, citing still-elevated inflation alongside solid ?economic ?growth, ?and gave little indication in its latest ?policy statement of when borrowing costs might fall again.
MKS said Wednesday it is pricing its private offering of 1 billion euros aggregate principal amount of 4.250% senior notes due 2034. The offering is expected to close on Feb. 4, subject to customary closing conditions, the company said.
The U.S. Federal Reserve held interest rates steady on Wednesday, citing still-elevated inflation alongside solid economic growth, and giving little indication in its latest policy statement of when borrowing costs might fall again.
The Federal Reserve held interest rates steady on Wednesday amid what U.S. central bank chief Jerome Powell described as a?solid economy and diminished risks to both inflation and employment, an outlook that could signal a lengthy wait before any further reductions in borrowing costs.
Treasury Secretary Scott Bessent on Wednesday said he had spoken at length with President Donald Trump about the nomination of a successor for Federal Reserve Chairman Jerome Powell, saying there were still four "great" candidates in the running.
* Bessent says he spoke with Trump after Iowa rally. * Four "great" candidates in the running, Treasury chief says. * Trump says decision coming soon. By Andrea Shalal and Susan Heavey.
MKS Inc. (MKSI) today announced the pricing of its private offering of ?1.0 billion aggregate principal amount of 4.250% senior notes due 2034. MKS estimates that the net proceeds from the offering will be approximately ?985 million, after deducting the initial purchasers? discounts and estimated offering expenses payable by MKS.
Public finance advocates are trying to interpret mixed signals about plans to pass a major reconciliation bill that could put the threat to the tax-exempt status of munis back on the table.
The threat to the independence of the U.S. Federal Reserve is boosting economic uncertainty around the world, Bank of Canada Governor Tiff Macklem said on Wednesday in his strongest comments to date ?on the outlook for the Fed. U.S. President Donald Trump has repeatedly criticized Fed Chairman Jerome Powell, ?demanding he cut interest rates.
The threat to the independence of the U.S. Federal Reserve is boosting economic uncertainty around the world, Bank of Canada Governor Tiff Macklem said on Wednesday in his strongest comments to date ?on the outlook for the Fed. U.S. President Donald Trump has repeatedly criticized Fed Chairman Jerome Powell, ?demanding he cut interest rates.
The Toronto Stock Exchange is up 44 points in choppy trade at midday, boosted by gains in the energy sector, up 0.7%. Financials and industrials are the worst performers, down 0.8% and 0.6%, respectively, followed by technology down 0.5%. As was widely expected, the Bank of Canada held rates steady at 2.25% for the second time in a row.
The Bank of Canada kept its key interest rate unchanged at 2.25% on Wednesday for the second meeting in a row, as was universally expected, said Bank of Montreal.
* Bank of Canada cites trade uncertainty as big risk this year. * Maintained its forecast for modest growth in 2026 and 2027. * Governor says inflation to hover around 2% for next two years. * Macklem says Jerome Powell doing a good job leading the Fed. By Promit Mukherjee and David Ljunggren.
The Bank of Canada has held its target for the overnight rate at 2.25% on Wednesday, as widely expected, said ING. The BoC's Monetary Policy Report forecasts 1.1% gross domestic product growth this year and 1.5% in 2027, which is broadly in line with how the MPR saw things back in October, noted the bank. The reaction in USD/CAD was "quite contained," stated ING.
* TSX down 0.2% at 33,031.19 points. * Bank of Canada holds rates, says hard to predict future moves. * Technology index leads losses with 1.1% fall. By Utkarsh Hathi. Jan 28 - Canada's main stock index fell on Wednesday, dragged down by technology and ?financial shares, as the Bank of Canada kept interest rates unchanged while flagging uncertainty around future policy decisions.
* Dollar steadies after sharp drop. * S&P 500 crosses 7,000 level. * Fed meets against backdrop of pressure on Powell. * Meta, Tesla report earnings after the close. By Chuck Mikolajczak.
The Bank of Canada held its policy rate at 2.25% on Wednesday, in line with market expectations, said TD. The opening statement noted that the BoC's outlook for growth and inflation "has not changed significantly" since the October Monetary policy Report projection, but uncertainty about the outlook was a common theme, noted the bank.
The European Union needs to quickly create a digital euro to cut the bloc's dependence on dominant U.S. payment companies, Economic Commissioner Valdis Dombrovskis said on Wednesday. The European Central Bank has been working to ?introduce a digital euro since 2020 to modernise its payment system and ensure central bank ?money remains relevant in an increasingly digital world.
The European Union needs to quickly create a digital euro to cut the bloc's dependence on dominant U.S. payment companies, Economic Commissioner Valdis Dombrovskis said on Wednesday. The European Central Bank has been working ?to introduce a digital euro since 2020 to modernise its payment system and ensure central bank ?money remains relevant in an increasingly digital world.
Global economic growth will be 3% in 2026, exactly as forecast a year ago, according to a quarterly Reuters poll of economists, suggesting they are unfazed by the abrupt and seismic shift in how the U.S. trades with others and treats its allies.
* German GDP growth in 2026 forecast at 1.0%, down from 1.3% * Growth in 2027 seen at 1.3%, down from 1.4% * Fiscal stimulus expected to contribute significantly to 2026 GDP growth. By Maria Martinez.
The Bank of Canada held rates steady at 2.25% on Wednesday for the second time in a row, as was widely expected, said Desjardins. Central bankers also reiterated that they see the current policy rate at about the right level to keep inflation close to their target, signaling that officials continue to expect interest rates to remain unchanged over the next few months, noted the bank.
Treasury Secretary Scott Bessent urged the Federal ?Reserve to have ?an open mind ?as the U.S. ?central ?bank met on Wednesday ?to ?made a decision on interest rates.
There won't be anyone surprised by the Bank of Canada's well-telegraphed decision to keep rates on hold on Wednesday, or its assessment that rates are at the right level if its forecast pans out, said CIBC. The BoC remains firmly neutral on where things go from here, saying that "it's difficult to predict the timing or direction of the next move,"noted the bank.
The Bank of Canada's forecast for economic growth and inflation in the country hasn't changed significantly since its October projection, said Governor Tiff Macklem after the BoC decided to leave rates on hold Wednesday.
NVR reported a fall in fourth-quarter profit on Wednesday, as rising costs and incentives for buyers ?struggling with high interest rates weighed ?on the homebuilder's margins. Higher lot ?costs, pricing pressure and contract land deposit impairments cut into gross profit margin during the quarter, NVR said.
The Bank of Canada, as expected, held its overnight interest rate steady at its Wednesday meeting. In its press release accompanying the rate decision the bank said its outlook for the global and Canadian economy is little changed from its October Monetary Policy Report, but noted its outlook is "vulnerable to unpredictable US trade policies and geopolitical risks".
A key tool used by the U.S. central bank to stabilise global financial markets in times of crisis could be weaponised by the Trump administration, Kenneth Rogoff, a former IMF chief economist said, when asked if that was a possibility.
The Bank of Canada on Wednesday held its policy rate at 2.25%, as widely expected, and Governor Tiff Macklem said a high level of trade uncertainty made it difficult to predict when and how rates might next change. Macklem said the threat of the U.S. Federal Reserve losing its independence contributed to uncertainty.
* Fed's swap line facilities could be used as leverage. * Dollar has long been weaponised by Washington, economist says. A key tool used by the U.S. central bank to stabilise global financial markets in times of crisis could be weaponised by the Trump administration, Kenneth Rogoff, a former IMF chief economist ?said, when asked if that was a possibility.
Canada's main stock index ?opened higher on ?Wednesday, led ?by gains ?in ?mining and ?technology shares, ?while investors awaited interest-rate ?decisions ?from ?the Bank of Canada and ?the U.S. Federal Reserve.
AM Best has affirmed the Financial Strength Rating of B+ and the Long-Term Issuer Credit Rating of ?bbb-? of Saudi Arabian Insurance Company B.S.C.. The outlook of these Credit Ratings is stable. The ratings reflect Damana?s balance sheet strength, which AM Best assesses as very strong, as well as its marginal operating performance, limited business profile and marginal enterprise risk management.
Mozambique's central bank cut its policy rate by 25 ?basis points to 9.25% on Wednesday, its 13th cut in ?a row, but it said the end of its ?easing cycle was near because ?of risks ?including severe floods in the past few weeks. The Bank of Mozambique's ?last rate decision in November ?was also a 25-basis-point cut.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
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