Wholesale prices rose more than expected in November, indicating a slowdown in inflation progress, with the producer price index increasing 0.4% month-over-month and 3% annually, the largest advance since February 2023. Despite the rise, core PPI met forecasts at 0.2%, with the exclusion of trade services showing a 0.1% increase. The Federal Reserve is expected to lower its key overnight borrowing rate next week, as markets react to mixed inflation data and concerns over a slowing labor market.
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Saudi Arabia says no normalization with Israel without establishing Palestinian state – Middle East Monitor
Saudi Arabia's foreign minister, Prince Faisal bin Farhan, stated that the kingdom will not normalize relations with Israel until a Palestinian state is established and the Gaza conflict ends, linking recognition to the two-state solution's progress. During a conference co-hosted with France, he emphasized that normalization discussions are impossible amid ongoing violence and suffering in Gaza. Want More Context? 🔎
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