The European Central Bank kept all three key euro-area interest rates unchanged on July 23, 2026, while warning that volatile energy prices linked to the Middle East conflict could continue to fuel inflation.
U.S. nonfarm payroll employment fell by 23,000 in July, while a scheduled inflation report became more important to the Federal Reserve’s policy outlook.
The Federal Reserve kept its federal funds target at 3.50% to 3.75% after its July meeting, while three officials favored higher rates and inflation remained above the Fed’s 2% target.
The Federal Reserve kept its federal-funds target range at 3.50% to 3.75% after its July meeting, as inflation and energy prices remained high.
The Federal Reserve’s July 2026 Monetary Policy Report said headline PCE inflation accelerated to 4.1% through May, while core inflation reached 3.4% and energy prices rose 24%.
The IMF kept its global growth outlook broadly unchanged, but warned that the Middle East war, stalled disinflation and financial-market repricing threaten the recovery.
The average long-term U.S. mortgage rate reached its highest level since late July 2025, increasing borrowing costs for homebuyers and people considering refinancing.
U.S. employers cut 23,000 jobs in July, while earlier payroll gains were revised down by 103,000. The Federal Reserve is still awaiting July inflation data.
The European Central Bank kept its monetary-policy settings unchanged on July 23, 2026, as conflict-related energy risks and financial uncertainty complicated the euro-area outlook.
Employers cut 23,000 jobs in July, a weaker-than-expected result that eased expectations of near-term rate increases even as inflation remains above the Federal Reserve’s target.
U.S. employers unexpectedly shed 23,000 jobs in July, a sharp deterioration that weakened the labor-market outlook and increased expectations that the Federal Reserve could wait before raising interest rates further.
The Federal Reserve said U.S. inflation accelerated sharply through May, with energy prices up 24% and overall PCE inflation well above the central bank’s 2% objective.
The Federal Reserve’s July 2026 report to Congress said headline PCE inflation reached 4.1% through May, while energy prices rose 24% over the same period.
The Federal Reserve’s July 2026 report says U.S. inflation reached 4.1% and energy prices rose 24% through May as conflict and shipping disruptions affected energy markets.
U.S. employers cut 23,000 jobs in July, adding pressure for caution on interest rates while inflation remains elevated ahead of the next CPI report.
The U.S. economy expanded at a 1.5% annual rate in the second quarter as elevated inflation, fuel prices and borrowing costs continued to pressure households and businesses.
The IMF kept its global growth forecasts for 2026 and 2027 unchanged, but warned that energy shocks, stalled disinflation and financial repricing are widening differences between economies.
The Federal Reserve’s July report to Congress said inflation rose notably in recent months, while the economy continued to expand and the labor market remained broadly stable.
The Bureau of Labor Statistics will release the July 2026 Consumer Price Index on Aug. 12. June headline prices fell monthly but remained 3.5% higher than a year earlier.
The International Monetary Fund kept its global growth forecast at 3.0% for 2026 and 3.4% for 2027, while warning that the Middle East war, energy exposure and renewed financial repricing are making the outlook more uneven.
The Bureau of Labor Statistics is scheduled to release its July 2026 employment report on Aug. 7, while its latest data show median weekly earnings rose 4.6% year over year in the second quarter.
Hawaii’s economic forecast calls for continued growth in 2026, but at a slower pace, with modest employment gains and elevated Honolulu inflation gradually easing through 2029.
