The Bureau of Economic Analysis (BEA) has revealed that the United States economy grew by 5.2% in the third quarter (Q3), up from the previously read 4.9%, which surpasses the estimated 5.0%. Michelle Bowman, a Federal Reserve Governor, mentioned that the Fed might maintain interest rates longer at their current levels to exert sufficient pressure on inflation.

Stable labor markets and decreasing inflationary pressures provide investors with further positive signals. The core Personal Consumption Expenditures (PCE) index for October is expected to decrease monthly and annually to 0.2% and 3.5%, respectively. The Core PCE is another factor the Fed considers in shaping future monetary policy.

Andrew Bailey, Governor of the Bank of England (BoE), stated on Wednesday that the BoE will do everything possible to reduce inflation to the 2% target. He also emphasized that the central bank could further increase interest rates if necessary.