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Neither Butterfield Bank nor Clarien Bank intend to change their rates

The case for the Federal Reserve raising interest rates is crystal clear, says a former central banker

The first rate cut in 2025 comes after two days of Federal Open Market Committee meetings

Officials were satisfied that the American unemployment rate has stabilised at a low level

The benchmark interest rate went unchanged at 4.25 per cent-4.50 per cent on Wednesday, as forecasters expected

FOMC chairman Jerome Powell said the American economy had made significant progress towards its goals over the past two years

The cut puts the lending rate in the range of 4.5 per cent to 4.75 per cent

Butterfield Bank is reducing its base interest rates on loans and mortgages by 0.25 per cent

A new HSBC report says sequential inflation and higher neutral rates suggest American policy could stay tighter than priced, but this may take time to play out

Bermuda Taxi Owners and Operators Association gathering at Transport Control Department

Federal Reserve chair Jerome Powell was cautiously optimistic but says victory is not yet assured

While not pushing up interest rates, the Fed continues trying to bring inflation down to two per cent