BOJ Keeps Easing Stance Under Yield Curve Control Framework After Making It More Flexible in Oct, July
–BOJ Repeats: To ‘Patiently’ Pursue Stable 2% Inflation –BOJ Maintains Negative Short-Term Rate, Zero Long-Term Rate; Keeps 1% Loose Upside Limit on 10-Year JGB Yield By Max Sato (MaceNews) – The Bank of Japan said Tuesday its policy board decided unanimously, as widely expected, to maintain its seven-year-old yield curve control framework and retain its […]
FOMC Holds Rates Steady; Indicates Funds Rate Has Peaked at 5.25-5.50%
– FOMC Retains Tightening Bias; Powell says Will Hike Rates Further If Needed – Officials Project Funds Rate Will Fall To 4.6% by End of 2024; 3.6% End 2025 – Officials Leave Longer Run Funds Rate Estimate Unchanged at 2.5% – Powell: FOMC Not Talking About Altering Quantitative Tightening By Steven K. Beckner (MaceNews) – […]
TRANSCRIPT: Fed’s Powell Said the FOMC Participants Did Discuss the ‘Next Question’ of Rate Cuts At This Meeting
WASHINGTON (MaceNews) – Federal Reserve Chair Jerome Powell Wednesday said the Federal Open Market participants did discuss rate cuts at its latest meeting and that as the inflation rate approaches the 2% target policy must become less restrictive to avoid overshooting. The transcript of his post-FOMC news conference follows: OPENING STATEMENT and Q&A:
FOMC Keeps Rates Unchanged as Expected, Retains Tightening Bias But Says Assessing Need for ‘Any’ Additional Firming
WASHINGTON (MaceNews) – The latest policy statement of the Federal Open Market Committee follows: Recent indicators suggest that growth of economic activity has slowed from its strong pace in the third quarter. Job gains have moderated since earlier in the year but remain strong, and the unemployment rate has remained low. Inflation has eased over […]
Analysis: Bank of Japan Cautious About Lifting Negative Short-Term Rate Target Until Confirming Path to Higher Wages in April
By Max Sato (MaceNews) – Bank of Japan policymakers are expected to maintain the current easing stance for now as they are likely to refrain from raising interest rates at least until April, when they may be able to see a clearer sign that wages will continue rising substantially in the next fiscal year. In […]
White House and Other Schedules for Wednesday, Dec 13
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 SCHEDULE FOR WEDNESDAY, DECEMBER 13, 2023 In the morning, the President will receive the President’s Daily Brief. This meeting will be closed press. Then, […]
Preview: BOJ December Tankan to Show Major Manufacturer Sentiment Up for 3rd Straight Quarter on Improved Supply Chains, Lower Import Costs
–Major Non-Manufacturer Confidence Seen Unchanged; Inbound Spending High but Labor Shortages Bite –Firms in Many Sectors Likely to Be Wary of Near-Term Outlook Amid Slowing Global Growth –Large Firms Seen Revising Down Fiscal 2023 Capex Plans; Small Firms to Raise Theirs Further By Max Sato (MaceNews) – The Bank of Japan’s quarterly Tankan business survey […]
Bank of Canada Keeps Policy Rate at 22-Year High of 5% as Past Rate Hikes Slowing Spending, Relieving Price Pressures
–Governing Council Still Concerned About Inflationary Risks, Remains Prepared to Raise Policy Rate Further if Needed By Max Sato (MaceNews) – The Bank of Canada on Wednesday maintained its policy interest rate — the target for overnight lending rates — at a 22-year high of 5.0% for the third straight meeting, as expected, after the […]
Preview: Bank of Canada Expected to Keep Policy Rate at 22-Year High of 5% in Light of Softer Economic Data While Warning Underlying Inflation Still Too High
By Max Sato (MaceNews) – The Bank of Canada is widely expected to hold its policy interest rate steady for a third straight meeting on Wednesday in the face of sluggish GDP data and an uptick in unemployment. But BOC policymakers are also expected to warn against being complacent about the risk of prolonged inflation […]
Powell Counters Wall Street Speculation About Impending Rate Cuts
– Welcomes Disinflation but Repeats Need ‘Confidence’ Policy ‘Sufficiently Restrictive’ – ‘Premature’ To ‘Speculate on When Policy Might Ease’ – Reiterates FOMC To ‘Proceed Carefully” But Will Raise Rates Further If Needed By Steven K. Beckner (MaceNews) – Federal Reserve Chair Jerome Powell welcomed continued progress on inflation reduction Friday, but declined to reinforce recent […]