Oil prices rose by almost 1 percent on Tuesday, lifted by a weak dollar, tensions in the Middle East and concerns of a further fall in Venezuelan output. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $62.59 a barrel at 0656 GMT, up 53 cents, or 0.9 percent, from their previous close. Source: Reuters
- The announcement comes three months after the central bank said two hikes would be appropriate in 2019.
- The central bank also says it will complete its balance sheet roll-off program at the end of the September.
- The Fed also reduced expectations in GDP growth and inflation and a bump higher in the unemployment rate outlook.
The race to build the next generation of super-fast mobile-data networks has begun in Germany, which started auctioning off its spectrum licenses for 5G on Tuesday. Source: NPR
European and German bank watchdogs signaled they won’t simply bow to the desire to create the kind of national champions that the German government has in mind by brokering a merger between the country’s two biggest listed banks. Source: Bloomberg
