BUSINESS LIVE: Shell beats forecasts; Fed holds interest rates; Standard Chartered buoyed by higher interest rates
By This Is Money
Updated:
Among the companies with reports and trading updates today are Shell, Standard Chartered, Melrose Industries and Apple. Read the Thursday 2 May Business Live blog below.
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Fed Reserve maintains interest rates
Overnight, the US Federal Reserve held interest rates steady and signaled it is still leaning towards eventual reductions in borrowing costs, but put a red flag on recent disappointing inflation readings that could make those rate cuts a while in coming.
Fed Chair Jerome Powell said that after starting 2024 with three months of faster-than-expected price increases, it ‘will take longer than previously expected’ for policymakers to become comfortable that inflation will resume the decline towards 2 per cent that had cheered them through much of last year.
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BUSINESS LIVE: Shell beats forecasts; Fed holds interest rates; Standard Chartered buoyed by higher interest rates
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