BOJ’s New Governor Ueda Sees No Need to Change Yield Curve Control Policy Framework or Accord with Government
By Max Sato (MaceNews) – Bank of Japan Governor Kazuo Ueda said it is “appropriate” to continue seeking stable and sustainable 2% inflation under the bank’s yield curve control policy framework, indicating that there will be no major change to the current monetary easing stance at the April 27-28 meeting. He told an inaugural news […]
<strong>FOMC Apt to Raise Rates Again but Bank Failures Raise Doubt</strong>
– Once Predisposed Toward More Aggressive Moves, Fed Must Now Weigh Financial Risks By Steven K. Beckner (MaceNews) – The Federal Reserve finds itself in an awkward situation as it approaches its mid-March monetary policy meeting. Less than a week ago, it seemed, the Federal Reserve’s policy making Federal Open Market Committee was on the […]
<strong>BOJ Keeps Easing Stance to Pursue Stable 2% Inflation Target After Nearly a Decade of Flooding Markets with Cash</strong>
–March Meeting Last Scheduled One for Governor Kuroda Before His 2nd 5-Year Term Ends on April 8 –Kuroda’s 2 Deputies Will Also Retire at End of Their 5-Year Terms on March 19 –Incoming Governor, Ex-BOJ Board Member Kazuo Ueda Has Told Diet Current Easing Stance ‘Appropriate’ By Max Sato (MaceNews) – The Bank of Japan […]
<strong>Bank of Canada Pauses in Tightening but Repeats It is Prepared to Raise Rates Further If Needed</strong>
–BOC: Will Continue Assessing Economic Developments, Effects of Cumulative Tightening –BOC: Labor Markets ‘Very Tight,’ Employment Growth ‘Surprisingly Strong’ –BOC Keeps View Inflation to Slow to 3% in Mid-2023 but Says Needs to Come Down Further By Max Sato (MaceNews) – The Bank of Canada on Wednesday left its policy interest rate — the target […]
<strong>Analysis: Japan PM Kishida Seeking Monetary Policy Balance Between Continuity and Gradual Shift from Abenomics</strong>
–Reports Say Kishida Picks Academic Kazuo Ueda to Succeed Kuroda By Max Sato (MaceNews) – Japanese Prime Minister Fumio Kishida appears to have picked an academic candidate with some policymaking experience to replace retiring Bank of Japan Governor Haruhiko Kuroda in a surprise choice that could prompt a gradual departure from the decade-old reflationary Abenomics […]
Analysis: Odds Mount For 25 BP Rate Hike at Feb. 1 FOMC Meeting
By Steven K. Beckner (MaceNews) – As the Federal Reserve gets set to kick off its first monetary policy deliberations of 2023, it’s almost a foregone conclusion that Chair Jerome Powell and his colleagues will keep raising short-term interest rates, but speculation has been mounting for weeks that the Fed will further decelerate monetary tightening. […]
Analysis: The CPI Conundrum – Smaller Rate Hikes Don’t Mean a Lower Terminal Rate
By Denny Gulino WASHINGTON (MaceNews) – The latest Consumer Price Index figures – suggesting a further softening of the inflation threat, rekindled hopes for a Federal Reserve pivot – hopes at odds with clearly stated Fed intentions to do no such thing. Good news for used cars, energy and some other categories came up against […]
<strong>FOMC Hikes Funds Rate 50 BP to 4.25-4.50%; ‘Ongoing Increases’ Foreseen</strong>
– Powell Stresses Fed Commitment Tt Lower Inflation Despite Slower Pace ……. – Officials Raise 2023 Funds Rate Projection to Median 5.1%, Up From 4.6% – Officials Also Revise Up Inflation, Unemployment Forecasts; Revise GDP Growth Down By Steven K. Beckner (MaceNews) – The Federal Reserve closed out an eventful year with a seventh straight […]
<strong>FOMC, Powell Face Tricky Communication Task in Slowing Rate Hike Pace</strong>
– Key To Watch Is How Much Higher Fed Officials Move Their 2023 Rate Dots By Steven K. Beckner (MaceNews) – The Federal Reserve has well prepared financial markets for another “unusually large” interest rate increase in mid-December – just not quite as aggressive as we’ve seen since the spring. The Fed, nevertheless, is struggling […]
Analysis: FOMC Set for Fourth 75 BP Rate Hike But What Comes Next?
– Even After Another Big Hike Real Funds Rate Will Be Negative – Mixed Signals About How High Fed Willing to Go to Fight inflation By Steven K. Beckner (MaceNews) – The Federal Reserve will almost certainly take another fairly aggressive monetary tightening step at its Federal Open Market Committee meeting next week, but its interest rate hike […]