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Higher for longer: US interest rates poised for increase after strong July retail sales

US interest rates are anticipated to remain elevated for an extended period following the surprising surge in July’s retail sales, which exceeded expectations. The robust 0.7% increase (compared to a forecast of 0.4%) and a revision for June from an initial 0.2% rise to 0.3%, have prompted a couple of US economists to speculate whether

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US bank shares decline as Fitch hints at possible credit downgrades

Shares in US banks experienced a drop on Tuesday following indications that the Fitch ratings group might follow rival agency Moody’s in downgrading the credit ratings of several American banks, including industry leader JP Morgan. The news emerged from an interview with a Fitch bank analyst on CNBC, discussing a report released by the ratings

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