July 31, 2026

The US Federal Reserve kept its benchmark rate at 3.50%-3.75% in a 9-3 vote at Chair Kevin Warsh's second meeting, with three regional presidents dissenting in favour of an immediate rate increase as inflation stays elevated.

Investors sorted the megacap technology names into winners and losers after results, sending Amazon sharply higher and Apple lower, as the market rewarded companies seen as best placed to profit from artificial intelligence.

The average 30-year fixed US mortgage rate rose for a fourth straight week to 6.66%, its highest level in about a year, adding to affordability pressures for homebuyers as the Federal Reserve signals higher-for-longer policy.

Several insurers plan to exit Affordable Care Act marketplaces for 2027 and early rate filings point to steep premium increases, following the expiration of enhanced subsidies that had made coverage cheaper and driven record enrollment.

The Bank of Japan kept its policy rate at 1% and cautioned that core inflation could rise clearly above 2% later this fiscal year, as a yen hovering near a four-decade low fuelled speculation of government currency intervention.

Britain's largest lenders posted stronger first-half profits and continued returning cash to shareholders, buoyed by higher-for-longer interest rates, though some flagged the risk of rising bad loans linked to the conflict in the Middle East.

Australia's consumer inflation slowed by more than expected in the second quarter, with the closely watched core measure also moderating, offering the Reserve Bank of Australia some relief ahead of its August policy meeting.

The Monetary Authority of Singapore and the Association of Banks in Singapore have set up a taskforce to strengthen the financial sector's cyber and technology resilience against threats amplified by advances in artificial intelligence.

Gross written premiums in the UAE's insurance sector rose 15.5% to about Dh75.2 billion, with total assets climbing to Dh166.7 billion, as the industry rode strong momentum in the country's non-oil economy.

India's insurance regulator has approved a package of reforms aimed at strengthening governance, enhancing policyholder protection and speeding up insurance penetration, supporting the rollout of the amended insurance-law framework.

Statistics Canada released May economic output along with an early estimate for June, offering the first read on whether the economy returned to growth in the second quarter after two consecutive quarterly contractions.

South Korea's GDP grew 0.6% in the second quarter, double some forecasts, as a surge in semiconductor exports offset weaker construction, putting annual growth near 3% and strengthening the case for further rate action.

France's economy grew modestly in the second quarter, contributing to a stronger-than-expected euro area, while French inflation stayed among the lowest in the bloc even as price pressures picked up across parts of Europe.

Germany expanded only marginally in the second quarter even as the wider euro area beat expectations, while early data pointed to German inflation rebounding in July, complicating the outlook for Europe's largest economy.

The UAE's banking sector recorded robust growth, with total assets rising 17.7% year on year to AED 5.56 trillion and lending up more than 20%, while banks maintained strong capital buffers, the central bank reported.