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US Fed official backed rate pause because inflation 'too high'
US Fed official backed rate pause because inflation 'too high'
by  AFP

A senior member of the US Federal Reserve on Friday said he voted against cutting interest rates this week because inflation was "too high" for comfort. Among the 10-2 majority voting for a quarter-point cut this week was Fed governor Christopher Waller, a Trump nominee who is on the five-person shortlist to take over from Powell when he steps down as Fed chair next May.

Swiss central bank profits boosted by gold price surge
Swiss central bank profits boosted by gold price surge
by  AFP

Switzerland's central bank on Friday reported a profit of 12.6 billion Swiss francs ($15.7 billion) for the first nine months of 2025, boosted by soaring gold prices and rising stock markets. To diversify its reserves, the Swiss central bank's equity portfolio uses a passive strategy that reflects stock market indices rather than picking stocks out to generate profits.

Profits dip at ExxonMobil, Chevron on lower crude prices
Profits dip at ExxonMobil, Chevron on lower crude prices
by  AFP

US oil giants ExxonMobil and Chevron reported lower earnings Friday as the decline in oil prices offset the lift from higher production. The results showed the impact on earnings from crude oil prices in the $60-$70 per-barrel range, down about $10 from the 2024 period.

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