October 28, 2026
Federal Reserve officials left interest rates unchanged and reiterated their commitment to containing inflation. “The accumulation of more information will help the committee determine the policy stance appropriate to ensure a timely return of inflation to the committee’s 2% goal,” policymakers said Wednesday in a post-meeting statement. “The committee will deliver price stability.”
The Federal Open Market Committee voted 10-2 to hold its benchmark federal funds rate in a range of 3.75% to 4%. Governor Lisa Cook and Cleveland Fed President Beth Hammack dissented, preferring to raise rates by a quarter percentage point. 2026-10-28 18:00:01 GMT (Bloomberg)
Euro traded at 1.1133 against USD at 9:00 AM PST
German consumer confidence is set to weaken in November due to rising inflation concerns and subdued income prospects. The forward-looking consumer climate index fell slightly from -30.6 in October to -30.8 in November. The economic expectations index is at 2.1, which reached above zero for the first time since the outbreak of the Iran war. The indicator suggests that consumers are increasingly optimistic about Germany's future economic development.
The income expectations index dropped 0.7 points to -15.7 in October. Despite the introduction of the gas rebate, income expectations showed only signs of stabilization following the sharp decline in the prior month. The willingness to save dropped 4.3 points to 17.2 in October. Although the score remained at a high level, it declined moderately, supporting the consumer climate. The willingness to buy has not benefited from the falling willingness to save. The indicator posted -11.9, down from -10.8 in September. 10/28/2026 - 04:47:00 (RTTNews)
Italy's producer price inflation accelerated further in September to the highest level in more than three-and-a-half years amid soaring energy costs. The producer price index climbed 13.8% year-over-year in September, faster than the 10.9% increase in August. Moreover, this was the highest inflation since December 2022.
The acceleration in inflation was mainly driven by a 45.9% jump in energy costs. Prices for intermediate goods increased 6.4%, and those for capital goods rose by 2.4%. Costs for consumer goods moved up 0.9%. Monthly, producer prices rose 2.9% after rising by 2.4% in August. Industrial sales dropped 0.9% monthly in September, following a 1.7% increase in August. 10/28/2026 - 08:01:00 (RTTNews)
The Reserve Bank of New Zealand retained its key interest rate on Wednesday after two consecutive rate hikes and signaled tighter policy ahead. The Monetary Policy Committee, governed by Anna Breman, voted 4-3 to hold the Official Cash Rate at 2.75%. The bank had lifted the rate by a quarter-point each in July and September. 10/28/2026 - 03:12:00 (RTTNews)
After leaving interest rates unchanged for seven consecutive meetings, the Bank of Canada on Wednesday announced it would raise rates by a quarter point. The Bank of Canada said it decided to increase its target for the overnight rate by 25 basis points to 2.5%, with the Bank Rate at 2.75% and the deposit rate at 2.45%. The Canadian central bank's Governing Council said the rate hike is intended to reduce the risk that continuing high energy prices spread broadly to the prices of other goods and services. 10/28/2026 - 10:14:00 (RTTNews)
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