Ukraine is considering a strategic move to shift its national currency peg the U.S. dollar to the euro, in response to significant geopolitical changes and its ongoing integration with the European Union. The announcement was made by National Bank of Ukraine Governor Andriy Pyshny in an interview with Reuters on Tuesday.
The Bank of England decided in its meeting on Thursday to cut the interest rate by 25 basis points to 4.25%, in line with expectations.
Amid mounting economic uncertainties in the United States, the latest meeting of the Federal Open Market Committee FOMC revealed a cautious stance by the Federal Reserve. With inflationary pressures persisting and signs of economic slowdown emerging, policymakers are walking a tightrope, weighing the risks of acting too soon against the dangers of inaction.
Gold prices continued to fall globally on Thursday, May 8, despite warnings the U.S. Federal Reserve about the growing risks of rising inflation.
Economic projections indicate that the Bank of England is likely to reduce its benchmark interest rate to 4.25% at its upcoming meeting. This anticipated move aims to ease borrowing costs and support domestic economic activity amid increasing external pressures, particularly those stemming recent U.S. trade tariffs.
Gold prices surged to their highest level in two weeks on Tuesday, driven by renewed demand for safe-haven assets amid growing uncertainty surrounding U.S. trade policy and ahead of a key interest rate decision by the Federal Reserve.
As U.S. President Donald Trump returns to office, the Federal Reserve faces mounting political pressure to reduce interest rates. However, all indicators suggest that the central bank will maintain its cautious approach, preserving its independence despite the increasingly tense political climate.
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