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 […]
TRANSCRIPT: Fed’s Powell Answers Questions After FOMC Holds Rates Steady
WASHINGTON (MaceNews) – The following is a transcript of Federal Reserve Chair Jerome Powell’s news conference Wednesday following the meeting of the Federal Open Market Committee: >> Good afternoon, everyone. My colleagues and I remain squarely focused on our dual mandate to promote maximum. Good afternoon, everyone. My colleagues and I remain squarely focused on […]
FOMC Holds Steady as Expected; Hints at Higher for Longer
WASHINGTON (MaceNews) – The Federal Open Market Committee Wednesday issues a policy statement that contained no surprises, maintaining the federal funds rate at 5.25% to 5.5%. The central bank accompanied its statement with updated economic and fed funds rate projections that continue to see the inflation not regressing to the targeted 2% until 2026, meanwhile […]
White House and Other Schedules for Wednesday, Sept 20
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: COMPREHENSIVE TRIP GUIDANCE AND PRESS SCHEDULEFOR WEDNESDAY, SEPTEMBER 20, 2023 Wednesday, September 20, 2023 In the morning, the President will receive the President’s Daily Brief. […]
FOMC To Skip September but Hold Door Open To Future Rate Hikes
– Fed Faces Tricky Calculations, Choices as It Plots Policy Course By Steven K. Beckner (MaceNews) – As the Federal Reserve prepares for its sixth monetary policy meeting of 2023, the way forward for interest rates is hazy. It seems likely the Fed’s policymaking Federal Open Market Committee will raise the federal funds rate further […]