San Francisco Federal Reserve President Mary Daly said inflation
would fall in a way that would strengthen confidence to lower interest rates in
future meetings. But Daly said he needed more confidence that the direction of
inflation was downward before a decision was made to cut interest rates.
Meanwhile, the European Central Bank is expected to keep interest
rates unchanged at its July meeting on Thursday. The European Central Bank
decided to cut interest rates for the first time since 2019 in June, after nine
months of keeping them unchanged. Analysts expect two more interest rate cuts
in the eurozone this year, in September and December.
Dr. Kamaran Qader Yaqub,
Financial Consultant at Investment Spot company.