![]() ![]() Some Fed staff say US rates are high enough The Chicago Fed says the fastest monetary tightening in a generation was “sufficient” to return inflation to target by the middle of 2024. 10-year yield: US 4.24% Australia 4.16% Germany 2.61%Īpple loses $313 billion value in two days as sell-off continues Shares in the tech giant extended losses as China plans to expand a ban the use of iPhones to government-backed agencies and state companies.Ĭhina’s ban on Apple: What analysts are saying Several analysts rushed to Apple’s defence one hedge fund manager said he’s flipped to betting the stock is poised for further losses.This should reduce price pressures, leading to lower inflation,” he said. “The cumulative effect is that the excess demand in the economy has diminished substantially. Policymakers earlier this week voted to keep the cash rate at 5 per cent.Ĭanada’s economy shrank at a 0.2 per cent annualised pace in the second quarter, which means growth has averaged a little less than 1 per cent over the last three quarters, while the economy’s productive capacity grew at a rate of a little over 2 per cent. ![]() In a speech, Bank of Canada governor Tiff Macklem said the bank’s 2 per cent target is “now in sight”. Still, it had shed 6.4 per cent the last two sessions. ![]() Analysts were divided on what it meant for Apple as well as other non-Chinese tech companies.Īt the closing bell, Apple had pared somewhat less than half its early drop of more than 5 per cent. On Wall Street, Apple extended losses for a second session amid concerns that China has effectively banned iPhones at government offices as well as state-owned companies. ![]()
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