Arab Finance: The Federal Reserve has decided to lower its target range for the federal funds rate by 0.25% to between 4.25% and 4.50%, according to the FOMC statement.

This step aligns with the committee’s strategy to back maximum employment and return inflation to its 2% objective.

Recent indicators believe that economic activity has continued to expand at a solid pace.

The labor market conditions have generally eased since earlier in 2024, with the unemployment rate going up but remains low.

Moreover, the inflation has made progress toward the committee's 2% objective but remains somewhat elevated.

Meanwhile, the committee aims to achieve maximum employment and inflation at the rate of 2% over the long run.

Egypt’s annual core inflation hits 23.7% in November Updated 12/11/2024 4:04:00 AM

Egypt’s annual headline inflation drops to 25% in November: CAPMAS Updated 12/10/2024 8:35:00 AM

Reducing logistics costs key to curbing inflation: Egytrans CEO Updated 12/9/2024 1:14:00 PM

CBE withdraws record EGP 1.37T in liquidity to counter inflation Updated 11/12/2024 1:51:00 PM

Egypt’s annual headline inflation falls to 26.3% in October: CAPMAS Updated 11/10/2024 8:41:00 AM