Fed officials divided on US inflation views; US home prices hit all-time high

The IMF downgraded its 2026 global growth forecast to 3%, down from 3.5% in 2025, citing the Iran war energy shock, though it expects a rebound to 3.4% in 2027. US home prices hit an all-time high with the median sales price rising 1.8% year-on-year to $440,600, while existing home sales fell 2.4% in June. The US Fed remains deeply divided on inflation, with half of policymakers favouring a rate hike and the other half supporting steady or lower rates from the current 3.6% level, while the IEA projects the first global oil demand decline since the pandemic, dropping about 1 million barrels per day in 2026.