US Prices Rose 0.4% in October as Gas Costs Eased
Consumer prices climbed slightly more than expected, but falling gasoline slowed the pace. The Fed is expected to raise rates again in December.
Economy & Policy
US Jobless Spells Hit 27 Weeks, a Decade High Outside Covid
October's jobs report beat forecasts, yet the average unemployment spell rose to 27.1 weeks. The long-term jobless are now over a quarter of all unemployed workers.
Bank of England Lifts Rates to 4% and Warns More May Follow
The Bank of England raised its base rate from 3.75% to 4% on oil-driven inflation fears, and its governor said another rise is likely unless the Iran conflict ends.
RBA Lifts Cash Rate to 4.85%, Its Fifth Hike This Year
Australia's central bank raised rates by 25 basis points on a 6-3 vote, to the highest since November 2008, and pushed back its inflation forecast.