The UK economy recorded zero growth in the third quarter of 2024, according to revised figures released by the Office for National Statistics (ONS) on Monday.

The latest US inflation data indicates that consumer prices rose by 0.5% in January, following a 0.4% increase in December, as the US Bureau of Labor Statistics reported.

After Bank of Japan (BoJ) members confirmed their readiness to hike interest rates again, the Japanese yen reached an eight-week high.

China’s manufacturing PMI, released on Monday, came in lower than December’s reading and below expectations.

The FOMC meeting on Wednesday, January 29, did not change monetary policy, as Fed voting members decided to keep the rate at 4.50%.

The euro edged lower against the dollar on Monday as investors assessed the implications of recent central bank meetings.

Federal Reserve Bank of Atlanta President Raphael Bostic recently stated that with inflation decreasing and unemployment rising more than expected, it might be “time to move” on rate cuts.

The upcoming Jackson Hole Symposium, a prestigious annual event where central bank leaders, finance ministers, and economists from around the globe convene, is set to begin later this week.

Global markets are on edge ahead of upcoming inflation data in the United States.

Significant changes have occurred in the global financial markets following hints from the Federal Reserve System (Fed) about possible interest rate cuts next year.