Fri, Dec 15, 2023 9:09 PM
Fed's Williams pushes back on market expectations of rate cuts
A Flip by Avya Verma
While Employees Provident Fund (EPF) subscribers are anxious over not receiving the interest in their accounts for the last financial year, the standard response given by the retirement fund body does not allay their concerns either. Lately, a number of subscribers have been enquiring on ‘X’ platform about the timeline of crediting of interest for FY 2022-23.
Open Flip
Crypto markets are in the red amid renewed fears of U.S. stagflation, a worst-case scenario for risk assets. BTC, the leading cryptocurrency by market value, traded near $62,400 at press time, down 2.5% on a 24-hour basis, according to CoinDesk Indices data. ETH traded 3% lower at $3,200, and the CoinDesk 20 (CD20), a measure of the most liquid digital assets, was down 2.6% at 2,197 pts.
Open Flip
Gold steadied after a weekly drop as traders looked ahead to a US Federal Reserve meeting midweek at which policymakers are expected to reaffirm their stance for higher-for-longer interest rates. Bullion dropped as much as 0.8% after losing more than 2% last week. The US central bank’s preferred measure of inflation rose at a brisk pace in March, according to data Friday.
Open Flip
