With Wall Street rattled by the prospects of higher interest rates, two Federal Reserve Bank Presidents argued loudly for a December rate hike during an event called 'Rethinking Monetary Policy,' held at the Cato Institute in Washington D.C. on Thursday. James Bullard, the President of the Federal Reserve Bank of St. Louis, said its time for liftoff. ‘I have been an advocate of ending the FOMC’s near zero nominal interest rate policy. My case is straightforward,' said Bullard during a speech.
Construction output in the UK fell 2.2 per cent in the three months to the end of October, compared with the quarter before, figures by the Office for National Statistics (ONS) showed today.
Global regulators published rules on Thursday to rein in risks in so-called shadow banking by increasing the amount of collateral required to back core transactions in a $137 trillion (£90.07 trillion) sector that continues to grow as mainstream banks shrink.
Next Trading Day's Important Events
- USDJPY: 122.64
- EURUSD: 1.0776
- S&P 500: 2,045.96
- NASDAQ : 5005.1