FOMC Keeps Rates Unchanged And Preserve Possibility of Future Tightening; Financial Conditions Tighter
WASHINGTON (MaceNews) – The Federal Open Market Committee Wednesday fulfilled expectations for a stand-still policy statement, noting financial and credit conditions have tightened and job gains have moderated – “but remain strong.” The barer-bones statement, very similar to the language in the preceding statement, follows: Recent indicators suggest that economic activity expanded at a strong […]
White House and Other Schedules for Wednesday, Nov 1
WASHINGTON (MaceNews) – The following are Wednesday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as U.S. economic data and Federal Reserve events: DAILY GUIDANCE AND PRESS SCHEDULEFOR WEDNESDAY, NOVEMBER 1, 2023 In the morning, the President will receive the President’s Daily Brief. This meeting in the Oval Office […]
BOJ Makes 1% Upper End of 10-Year JGB Yield Flexible ‘Reference,’ Not Definite Line to Defend, But Keeps Official Target at ‘Around Zero’
–Vote on Making Yield Curve Control More Flexible Is 8-to-1 –Board Member Nakamura Dissents Again, Should Wait Until Bank Can Confirm Firms’ Earning Power Is Up –BOJ Board Keeps Basic Easing Stance Unanimously To ‘Patiently’ Pursue Stable 2% Inflation By Max Sato (MaceNews) – The Bank of Japan said Tuesday its policy board decided in […]
Press Report: Bank of Japan Likely to Consider Allowing 10-Year Bond Yield to Trade Above 1% in Flexible Market Operations
By Max Sato (MaceNews) – Bank of Japan policymakers are likely to consider making the yield curve control framework even more flexible at their meeting this week by allowing the 10-year bond yield to trade above 1% “to some extent,” the upper end of its range the BOJ expanded in July, the Nikkei newspaper reported […]
Bank of Canada Keeps Policy Rate at 22-Year High of 5%, Expects Higher Inflation and Lower Growth in 2023, 2024
–Governing Council Concerned Inflationary Risks Have Increased, Prepared to Raise Policy Rate Further if needed –Governor Macklem: ‘We Are Keeping the Door Open for a Further Interest Rate Increase Because There Is Uncertainty’–Macklem: Path to Soft Landing Has Gotten Narrower By Max Sato (MaceNews) – The Bank of Canada on Wednesday maintained its policy interest […]
Bank of Canada Seen Keeping Policy Rate at 5% This Week Amid Dim Business Outlook, Easing Inflation
By Max Sato (MaceNews) – The Bank of Canada is widely expected to hold interest rates steady in Wednesday’s policy announcement in light of weak business survey results and slightly easing price pressures, but given some resilience in the labor market and the uncertain inflation outlook, the bank may not be done with tightening that […]
Officials Lean Toward A Skip At Nov. 1 FOMC but Door Open To More Rate Hikes
By Steven K. Beckner (MaceNews) – As the Federal Reserve’s penultimate monetary policy meeting of 2023 rapidly approached, Fed officials collectively leaned against another short-term interest rate hike, while expressing hope that rising long-term rates might substitute for Fed rate action. By no means, though, did they rule out additional monetary tightening to fight inflation, […]
Fed Vice-Chair Jefferson: Inflation Too High but Fed ‘Should Proceed Carefully’
– Jefferson: Must Be Mindful of Downside Risks; Tighter Financial Conditions – Dallas Fed’s Logan: Must Stay Restrictive to Cut Inflation ‘In Timely Way’ By Steven K. Beckner (MaceNews) – Federal Reserve Vice Chair Phillip Jefferson declined Monday to conclude that the Fed has raised interest rates enough but said it should be careful to […]
BOJ Repeats Vow to Maintain Monetary Easing Patiently to Seek Stable 2% Inflation with Wage Growth
–BOJ Board Keeps Basic Easing Stance Unanimously After Allowing Greater Flexibility in July By Max Sato (MaceNews) – The Bank of Japan said Friday its policy board decided unanimously to maintain its monetary easing stance, keeping its zero to slightly negative interest rate targets along the yield curve as well as large asset purchases to […]
FOMC Stays on Hold But Projects One More 2023 Funds Rate Hike
– Powell Says FOMC Prepared to Go Higher But Will ‘Proceed Carefully’ – Fed Officials Project Fewer Rate Cuts in 2024 Than Previously By Steven K. Beckner (MaceNews) – The Federal Reserve left short-term interest rates unchanged Wednesday but indicated that at least one additional rate hike is probable before the year is out. After […]