The Central Bank of the Republic of Turkey (TCMB) has initiated its much-anticipated rate-cut cycle, lowering the policy rate by 250 basis points from 50% to 47.5%.

The Federal Reserve lowered interest rates at its December 2024 meeting to bolster employment and maintain price stability, reflecting its proactive stance on sustaining economic growth. 

Economic activity in the U.S. manufacturing sector contracted for the eighth consecutive month in November, marking the 24th decline in the past 25 months, according to the latest Manufacturing ISM® Report On Business®.

The Consumer Prices Index, including owner occupiers' housing costs (CPIH), rose by 3.2% in the 12 months to October 2024, an increase from 2.6% in September and a significant decline from the recent peak of 9.6% recorded in October 2022.

The Fed lowered the federal funds rate, emphasizing a data-driven approach.

The Bank of England lowered its Bank Rate by 25 basis points to 4.75% in November as expected, marking the second cut since the rate-cutting cycle began in August.

For the week ending November 2, seasonally adjusted initial claims for unemployment benefits rose by 3,000, reaching a total of 221,000.

Markets brace for potential impacts on key sectors and global trade after Trump’s victory.