Bank of England holds rate at 3.75% as energy shock clouds inflation
The U.K. central bank kept rates unchanged, with policymakers weighing weak output against inflation risks tied to the Iran war an...
By David L. Chen 1 month agoSenior Columnist
David L. Chen
David writes the opinion column on currencies, trade, and the politics of global capital. Formerly an FX strategist in Hong Kong and London.
Latest from David L. Chen
Ancient Greek oligarchy frames a warning on US minority rule
Matt Simonton links classical Greece’s elite regimes to modern US concerns over wealth, institutional veto points and the Senate f...
By David L. Chen 1 month ago
US grants 60-day Iran oil waiver as buyers weigh dollar trades
The Treasury license allows Iranian oil and petrochemical sales in dollars through Aug. 21, potentially releasing stranded crude a...
By David L. Chen 1 month agoCanada GDP nowcasts point to Q2 growth as payroll measure improves
Scotiabank and the Canadian Chamber’s Business Data Lab both estimate Q2 expansion, while StatCan-based indicators show GDP and la...
By David L. Chen 1 month agoUS stock futures slip as oil and gasoline remain below year-ago levels
S&P 500 and Dow futures pointed lower Sunday night, while WTI crude stood about 24% below its level a year earlier, according to m...
By David L. Chen 1 month agoIMO halts Hormuz evacuation plan after Evergreen ship is hit near Oman
The UN maritime agency paused a Gulf exit plan after a Singapore-flagged container ship was struck near Oman, adding pressure to H...
By David L. Chen 1 month ago
Burnham faces early North Sea oil test as supply risks rise
The likely next UK prime minister must choose between new North Sea drilling and a faster clean-energy push amid renewed fuel secu...
By David L. Chen 1 month ago
US producer prices rise 1.1% in May as energy costs jump
The producer price index beat expectations in May, with the annual wholesale inflation rate reaching its highest level since Novem...
By David L. Chen 1 month ago
Fed’s preferred core inflation gauge rises to 3.4% in May
The PCE report showed firmer inflation, resilient spending and stronger revised first-quarter growth, keeping attention on the Fed...
By David L. Chen 1 month agoReal hourly pay trails inflation since February, analysis finds
Econbrowser calculations show real average hourly earnings for key private-sector workers below February levels after adjusting fo...
By David L. Chen 1 month ago
ECB rate decision turns on energy shock and core inflation
Markets expect a 25-basis-point ECB rate increase as higher energy costs push euro zone inflation above target and test weak growt...
By David L. Chen 1 month ago
Warsh holds Fed rates steady as projections tilt toward a hike
The Fed kept rates at 3.5% to 3.75%, while officials’ projections and Warsh’s inflation language pushed markets to reassess the po...
By David L. Chen 1 month ago