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Bank of Russia Holds Key Rate at 21% Even as Inflation Rises

(Bloomberg) -- The Bank of Russia held its key interest rate at a record-high 21%, surprising most analysts who’d expected policymakers to opt for another big hike to try to tame persistent inflation.Most Read from BloombergNew York City’s Historic Preservation Movement Is Having a Midlife CrisisReviving a Little-Known Modernist Landmark in BuffaloThe Architects Who Built MiamiNYPD Car Chases Are Becoming More Frequent — and More DangerousDakar’s Air Quality Plummets as Saharan Dust Descends on

Trafigura, Gunvor Weigh Trump Wildcard Against Oil Glut in 2025

(Bloomberg) -- Two of the world’s biggest oil traders are expecting the market to be oversupplied next year — but both agree that Donald Trump might just change everything.Most Read from BloombergNew York City’s Historic Preservation Movement Is Having a Midlife CrisisReviving a Little-Known Modernist Landmark in BuffaloThe Architects Who Built MiamiNYPD Car Chases Are Becoming More Frequent — and More DangerousDakar’s Air Quality Plummets as Saharan Dust Descends on SenegalTrafigura Group and G

Oil Set for Weekly Drop on Fed’s Slower Path and Tariff Risks

(Bloomberg) -- Crude extended a weekly drop as traders weighed the outlook for slower easing by the Federal Reserve and Donald Trump’s tariff threat on EU countries unless they buy more US oil and gas.Most Read from BloombergNew York City’s Historic Preservation Movement Is Having a Midlife CrisisNYPD Car Chases Are Becoming More Frequent — and More DangerousDakar’s Air Quality Plummets as Saharan Dust Descends on SenegalRescuing a Little-Known Modernist Landmark in BuffaloBrent futures fell tow

Fed's Preferred Inflation Gauge Falls More Than Expected: Markets Breathe Sigh Of Relief

The Federal Reserve’s key inflation measure came in below expectations for November, delivering welcome relief Friday to markets after the central bank warned earlier this week of mounting price pressures heading into the new year. The Personal Consumption Expenditures price index grew by 2.4% in November 2024 on a year-over-year basis, up from 2.3% in October, according to government data. The figure missed economist forecasts of 2.5%, yet it marked the second consecutive monthly increase in th