Bank of England holds rates at 5.25%
The Bank of England kept interest rates at 5.25% but hinted at possible reductions soon, as inflation rates start to dip quicker than expected. With a committee vote of 8-1 against changing rates, there's a clear shift away from previous inclinations to increase them.
Governor Andrew Bailey shared optimism about inflation moving closer to the 2% target. The UK's economy is juggling to balance reducing inflation with avoiding further economic downturns. Meanwhile, global central banks, including the US Federal Reserve, are also contemplating easing monetary policies after significant tightening phases.
The Bank's latest stance signals a cautious yet hopeful outlook towards achieving stable inflation and economic recovery.
US accuses Apple of building a smartphone market monopoly
The US government has taken Apple to court, accusing the tech giant of unfair competition by limiting access to its software and hardware. This major lawsuit points to Apple's control over the smartphone market, particularly targeting how Apple products, like iPhones and Apple Watches, work so well together but not with other brands.
It's a big moment as Apple joins other tech heavyweights like Amazon and Google, who've also faced similar legal challenges. The case shines a spotlight on Apple's practices, like its exclusive iMessage service and the compatibility between its devices, which some say hurts competition and choice for consumers.
The outcome could change how Apple operates, making it a significant event for the tech world and gadget
Japan’s speedier inflation pace keeps BOJ’s next move in focus
Japan's inflation rate hit its fastest pace in four months, stirring talks about what the Bank of Japan (BOJ) might do next.
Prices went up by 2.8% in February, driven partly by higher energy costs. This rise in prices keeps happening even after the BOJ raised interest rates for the first time since 2007. Interestingly, wages might start increasing soon, which could change spending patterns.
Amid these changes, everyone's watching to see if the BOJ will hike rates again to keep inflation in check. With the yen still weak, the cost of imports remains high, adding more fuel to the inflation fire.
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