Fed Officials Agree It’s Time to Start Lowering Federal Funds Rate
– But Williams, Waller Won’t Say Size or Pace of Rate Cuts By Steven K. Beckner (MaceNews) – Two top Federal Reserve policy-makers strongly signaled Friday that the Fed will be cutting short-term interest rates for the first time since March 2020 when its rate-setting Federal Open Market Committee meets in mid-September. However, neither New […]
Japan Government Slightly Upgrades Its View on Economic Recovery after BOJ Conducts 2nd Rate Hike in July
By Max Sato (MaceNews) – Japan’s government upgraded its overall economic assessment for the first time in six months, noting consumer spending is supported by wage hikes and temporary income tax credits, but the change in wording is subtle and it continues to say the economy is recovering “moderately.” In its monthly report for August […]
Fed’s Powell Declares ‘The Time Has Come’ to Lower Federal Funds Rate
– Leaves Timing and Amount of Rate Cuts In Doubt – Says Inflation Risks Receding While Employment Risks Rising. By Steven K. Beckner (MaceNews) – Federal Reserve Chair Jerome Powell left no doubt Friday that he and his fellow monetary policymakers will begin lowering interest rates next month, but was far less clear about how […]
BofA Global Research Fund Manager Survey: Global Investors Buy Bonds on Declining Global Growth Expectations
–US Recession Concern Top Tail Risk –Sixty percent of Managers Expect Four Or More Fed Cuts in Next 12 Months By Vicki Schmelzer NEW YORK (MaceNews) – Global investors made a beeline into bonds in July, driven by declining world growth expectations, according to BofA Global Research’s monthly fund manager survey, released Wednesday. Jitters about […]
Fed Officials Remain Hesitant To Back Aggressive Rate Cuts Despite Weaker Job Data
– Consensus for 25 bp Cut in September Seemingly Intact, But Early or Larger Cut Doubtful By Steven K. Beckner (MaceNews) – When a disappointing July employment report and other worrisome economic indicators triggered a Wall Street sell-off, speculation mounted that the Federal Reserve would have to play catch-up and ease monetary policy more aggressively […]
Bank of Japan Board Members See Upside Risks to Inflation Outlook at July Meeting; Some Note Low Real Rates, Others Warn of Weak Consumption
–One Member Estimates Minimum 1% Neutral Rate, Calls for Gradual Pace of Rate Hikes By Max Sato (MaceNews) – Bank of Japan board members called for a close watch on upside risks to their inflation outlook amid labor shortages and higher import costs, with a majority seeking to justify a follow-up interest rate by pointing […]
FOMC Holds Funds Rate Steady; Powell Says Rate Cut Getting ‘Closer’
– FOMC Repeats Doesn’t Expect Rate Cut Til ‘Greater Confidence’ Inflation Headed To 2% – Powell: Rate Cut May be ‘On The Table” At Sept FOMC, But Need More Good Data – FOMC Statement More Upbeat About Inflation; Less Upbeat About Jobs By Steven K. Beckner (MaceNews) – The Federal Reserve refrained from cutting interest rates Wednesday but its rate-setting […]
Bank of Japan Hikes Overnight Rate Target to 0.25% from Range of 0% to 0.1% in 7 to 2 Vote
–BOJ Releases Specific Plans to Trim its Monthly JGB Purchases to Y3 Trillion from Y6 Trillion by end of Q1 2026–BOJ Governor Ueda: Raised Rates Because Economy, Prices Have Been on Track–Ueda: Weak Yen Impact on Prices ‘Not Necessarily Biggest Reason’ for Rate Hike By Max Sato (MaceNews) – The Bank of Japan said Wednesday […]
Preview: Bank of Japan Expected to Keep Rate Target This Week, Seek Rate Hike in September if Data Shows Wage Hikes Spreading to Smaller Firms, Pushing Up Weak Services Costs
By Max Sato (MaceNews) – The Bank of Japan board is widely expected to maintain its policy stance at its two-day meeting this week and wait until its next meeting on Sept. 20-21 to follow up on its first rate hike in 17 years in March by raising the overnight interest rate target to 0.25% […]
Bank of Canada Trims Policy Rate Further by 25 Basis Points to 4.50% on Easing Inflation, Cooling Economy; Leaving Door Open for More Cuts
–BoC: Excess Supply Lowers Inflationary Pressures but Shelter, Some Other Services Holding Inflation Up–Governor Macklem: Downside Risks Taking on Increased Weight in Monetary Policy Deliberations–Macklem: Need Growth to Pick Up So Inflation Does Not Fall Too Much, Even as We Work To Get Inflation Down To 2% Target By Max Sato (MaceNews) – The Bank […]