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Treasury Secretary Scott Bessent said Donald Trump is not asking the Federal Reserve to lower its short-term interest rates, but what he and the president do want is to bring down longer-term borrowing costs via 10-year Treasury yields.

(Bloomberg) -- Mexico’s central bank will likely double the pace of monetary policy easing Thursday, delivering a half-point rate cut with inflation back in the target range, growth slowing and tariffs delayed.Most Read from BloombergCitadel to Leave Namesake Chicago Tower as Employees RelocateState Farm Seeks Emergency California Rate Hike After FiresTransportation Memos Favor Places With Higher Birth and Marriage RatesNYC Sees Pedestrian Traffic Increase in Congestion-Pricing ZoneSan Francisco

LONDON (Reuters) -Oil prices edged up on Thursday after Saudi Arabia's state oil company raised its March crude prices sharply, but the gains barely dented the previous day's slide in benchmark Brent crude. Brent crude futures rose 44 cents, or 0.6%, to $75.05 a barrel by 1355 GMT. Oil prices had plunged by more than 2% on Wednesday as a large build in U.S. crude and gasoline stockpiles signalled weaker demand while investors also weighed up the implications of a new round of U.S.-China trade tariffs, including duties on energy products.

(Bloomberg) -- Bank of England officials decided to cut interest rates to a 19-month low, with two supporting a bumper 50-basis-point cut, prompting markets to boost bets on further easing.Most Read from BloombergCitadel to Leave Namesake Chicago Tower as Employees RelocateState Farm Seeks Emergency California Rate Hike After FiresTransportation Memos Favor Places With Higher Birth and Marriage RatesNYC Sees Pedestrian Traffic Increase in Congestion-Pricing ZoneSan Francisco Wants Wealthy Donors

(Bloomberg) -- Russia’s flagship crude oil has dropped back below a price cap of $60 a barrel for the first time since December, one of several indicators that fresh US sanctions on Moscow may be biting.Most Read from BloombergCitadel to Leave Namesake Chicago Tower as Employees RelocateState Farm Seeks Emergency California Rate Hike After FiresTransportation Memos Favor Places With Higher Birth and Marriage RatesNYC Sees Pedestrian Traffic Increase in Congestion-Pricing ZoneSan Francisco Wants

If the pundits proved right, the US labor market was supposed to have broken down by now.

The stress test, which will include 22 banks compared to last year’s 32, will feature two added hypothetical elements for the Fed’s “exploratory analysis” of the banking system.