CNBC Economy

The Bank of England kept rates steady Thursday, even after U.K. inflation rose to 3.1% and energy costs put pressure on prices.

The reading comes a day before the Bank of England updates its monetary policy.

Prices for diesel, the fuel type used to power trucks and trains, came in at an all-time high of $6.31 per gallon on Wednesday.

Rising oil prices and Treasury yields are lifting energy and borrowing costs for U.S. households, pushing consumers to draw more heavily on savings.

Nazara, sworn in hours after Purbaya's dismissal, spent seven years as deputy finance minister and led the ministry's fiscal policy agency from 2015 to 2019.

BRICS leaders have asserted the need to use local currencies in intra-BRICS trade to cut dependency on dollar.

Traders were pricing in a better than 92% probability of a rate increase, as well as a more than 75% chance for another one in December.

In August, consumer prices rose 3.4% over the past year while wages increased just 3.1%.

The survey's headline index hit a level of 47.8, down 7.5% from the August reading and off 13.2% from a year ago.

The largest outbreak, linked to shredded iceberg lettuce from Taylor Farms, sickened more than 12,000 people.

The all-items consumer price index was expected to rise 0.4% in August, with core, excluding food and energy, showing a 0.2% gain, according to the Dow Jones consensus.

The Bureau of Labor Statistics will release the August consumer price index report at 8:30 a.m.

Traders pushed chances for a rate increase to 70% in morning action.

The producer price index was expected to rise 0.4% in August, according to the Dow Jones consensus forecast.

Import bans on motorbikes, alcohol and dairy products are due to come into effect on Sept. 29 as the rift between the countries deepens.

Duties on Canadian imports of U.S. steel and aluminum products have doubled to 50% as a trade war between Washington and Ottawa intensifies.

Finance ministry data showed that Japan's official foreign reserves stand at $1.207 trillion, down from July's figure of $1.287 trillion.

China's exports and imports gathered momentum in August, as the world's second-largest economy faces mounting pressure to rebalance trade.

Despite rising prices and the travel industry focusing on the luxury segment, budget-minded vacationers are still finding ways to get away.

Ten days ahead of the next Federal Reserve meeting, the Trump administration looks to be in a full-court press to halt a rate hike in its tracks.