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US Fed Chair Jerome Powell calls rate cut speculation 'premature'
US Fed Chair Jerome Powell calls rate cut speculation 'premature'
Economy
by  AFP

It is still "premature" to speculate on when the US Federal Reserve will start cutting interest rates despite the bank's recent progress on inflation, Fed Chair Jerome Powell said Friday. On Friday, Powell said the Fed's rate-setting Federal Open Market Committee (FOMC) would continue its inflation battle despite the apparent success of its "restrictive" stance of monetary policy.

UK unveils £11 bn windfarm investment by UAE, German firms
UK unveils £11 bn windfarm investment by UAE, German firms
Economy
by  AFP

UK Prime Minister Rishi Sunak announced Friday plans by UAE state-owned renewables firm Masdar and German energy giant RWE to invest up to £11 billion ($14 billion) in a giant offshore windfarm. "I'm pleased to announce a new deal between Masdar and RWE, which includes a commitment to jointly invest up to £11 billion into the UK's new windfarm at Dogger Bank," said Sunak.