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...The Supreme Court’s 6-3 ruling in Dobbs vs Jackson Women’s Health Organization, which gave states the right to set abortion policies, split the country....
...Excluding bonuses, annual growth slowed from 6.2 per cent to 6.1 per cent....
...Core inflation, which strips out volatile food and energy prices, was 4.5 per cent, compared with expectations of 4.6 per cent....
...The pound fell 0.07 per cent to $1.2803 after official figures showed that average earnings excluding bonuses rose 6.1 per cent in the three months to January, slightly lower than the 6.2 per cent forecast...
...Analysts had predicted a reading of 4.6 per cent....
...estimate of 2.6 per cent in its “longer run” projection....
...“In politics, when you straddle a fence, it does not end well,” said Mary Anne Marsh, a Democratic strategist. “[Trump] wants it both ways....
...It follows a slew of economic data this week suggesting that price pressures are taking time to subside, including an unexpected rise in February’s inflation rate and a 0.6 per cent month-on-month surge...
...The European Central Bank estimates annual inflation in the eurozone will be 2.3 per cent in 2024, with growth of 0.6 per cent....
...As well as February’s unexpected increase in inflation to 3.2 per cent, separate data this week showed a 0.6 per cent month-on-month surge in producer prices....
...The pound climbed 0.6 per cent to a seven-month high of $1.2893 against the US currency on Friday, before paring gains to end the week at $1.2857....
...The vote split was 6-3 at the December meeting. Traders in swaps markets are pricing the first quarter-point rate cut by June, with 1.1 percentage points of cuts priced by the end of the year....
...Even though Italy’s budget deficit is forecast by UniCredit to shrink to 4.6 per cent this year, that is still much higher than the 2 per cent forecast for Germany....
...Mary McDougall...
...Eurozone inflation has fallen from a 2022 peak of 10.6 per cent to 2.4 per cent in March — tantalisingly close to the central bank’s goal....
...Although it typically handles $6.5tn a day, it nets down outstanding payments so only around $65bn a day changes hands....
...Benchmark 10-year borrowing costs have risen to 4.2 per cent from 4 per cent in March and 3.6 per cent at the start of the year....
...Benchmark US and UK government bond yields are up 0.6 percentage points since the start of the year. Equivalent German Bund yields — the benchmark for the eurozone — are up 0.3 percentage points....
...Month on month, consumer prices declined by 0.6 per cent....
...The share of European corporate bond sales denominated in sterling has risen to 8.4 per cent from 6.8 per cent at the start of 2023, in the busiest start to the year in a decade for investment grade issuance...
...Two polls last month showed Trump winning by 6 and 7 percentage points, respectively, over Biden in the state....
...US Supreme Court: America’s highest court will hear oral arguments on the abortion pill, which could limit access to the medication less than two years after Roe Vs Wade was overturned....
...per cent in the fourth quarter, higher than the 6 per cent forecast by economists....
...Rachel Reeves, shadow chancellor, on Thursday declined to say whether Labour would vote for any tax cuts contained in the March 6 package....
...Annual growth in earnings excluding bonuses slowed to 6.2 per cent, compared with 6.7 per cent in the three months to November....
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