The Federal Reserve held interest rates steady on Wednesday, just days after President Donald Trump called on the central bank to lower them. The announcement put the central bank on a potential collision course with Trump, though a longstanding norm of independence typically insulates the Fed from direct political interference.

President Donald Trump on Thursday said he will call for a lowering of U.S. interest rates, exerting pressure on the Federal Reserve despite a longstanding norm of political independence at the central bank.

The president says he wants Opec and Saudi Arabia to bring down the price of oil which he says is fuelling the Russia-Ukraine war.

The Federal Reserve on Wednesday will announce its latest decision setting the level of interest rates, just days after President Donald Trump called on the central bank to lower them. Investors widel

The central banks in the six-nation Gulf Cooperation Council (GCC) have aligned with the US Federal Reserve to hold their interest rates steady. The Central Bank of the UAE will maintain its base rate on overnight deposit facility (ODF) at 4.

The Federal Reserve held interest rates steady on Wednesday, just days after President Donald Trump called on the central bank to lower them. The announcement put the central bank on a potential collision course with Trump,

Saudi Arabia's energy minister and several of his OPEC+ counterparts have held talks following U.S. President Donald Trump's call for lower oil prices and ahead of a meeting next week of OPEC+ oil-producing countries,

The price for Gold stood at 330.78 Saudi Riyals (SAR) per gram, broadly stable compared with the SAR 330.64 it cost on Monday. The price for Gold was broadly steady at SAR 3,858.14 per tola from SAR 3,856.53 per tola a day earlier.

U.S. stocks are poised to pull back slightly from record highs as caution prevails following President Trump's remarks on tariffs and trade. The dollar faces its largest weekly drop in two months, amid investor confidence in potential Federal Reserve rate cuts.

Ultimately, global markets will determine medium- and long-term interest rates and oil prices. The caveat for Trump is that politicians who try to circumvent markets eventually lose. The price discovery mechanism, unlike politicians and bureaucrats, can’t be suppressed, bought off or rendered inert for long.

Addressing the World Economic Forum in Davos, the US president (pictured) said borrowing costs in America and around the world 'should be dropping'.

President Donald Trump took his America First economic platform to the international community Thursday, promoting tax cuts, oil extraction, and tariffs at the World Economic Forum at Davos.