Top-of-mind economic news as we start the week:
— The Federal Reserve took no action on interest rates at its June 2023 meeting, after raising its key interest rate 10 times since March 2022.
— U.S. consumers expect inflation for the coming year to decrease slightly to 4.1%, the lowest anticipated level since May 2021.
— U.S. consumer sentiment in June rose to 64 on key University of Michigan index, up 28% from the historic low of 2022 but below the 90-100 levels pre-2020.
— The European Central Bank raised its key interest rate 25 basis points to 3.5%, the highest in 22 years; foresees regional inflation of 5.4% in 2023, 3.0% in 2024.
— The European Commissions proposed regulating ESG ratings firms to increase the transparency, reliability and comparability of the data provided.
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