The governor of the Reserve Bank of New Zealand admitted to feeling “borderline emotional” about the central bank’s decision to join a growing number of its global peers in finally starting interest rate cuts.
Oil prices rebounded amid reports that U.S. crude stocks fell for the seventh consecutive week and weaker-than-expected producer-price index data boosted hopes of a September rate cut.
Inflation rebounded in the U.K. last month but a slowdown in the rate of services price makes it likely that the Bank of England will lower its key interest rate again over the coming months.
The world’s largest contract electronics maker reported a 6% increase in quarterly net profit as its revenue rose to a record on robust demand for artificial-intelligence servers.
