FOMC Holds Funds Rate Steady; No Rate Cut Til Confident Inflation Headed to 2%
–Fed Officials Project Single 25 BP Rate Cuts in 2024 –Powell Calls CPI ‘Encouraging,’ But Wants More Data To Gain ‘Confidence’ By Steven K. Beckner (MaceNews) – The Federal Reserve’s policy making Federal Open Market Committee again held the federal funds rate steady Wednesday and gave no indication it will be cutting that key money […]
TRANSCRIPT: Fed’s Powell Says Waiting for Better Inflation Data, In Addition to ‘Encouraging’ CPI Report
WASHINGTON (MaceNews) – Federal Reserve Chair Jerome Powell’s bottom line is that more inflation data is needed before any rate cuts regardless of the “dot plot” and regardless of the day’s encouraging Consumer Price Index report. The transcript of his post-FOMC news conference follows: Inflation has eased substantially from a peak of 7% to 2.7% […]
FOMC Stands Pat Hints of More Hawkish Stance; ‘Dot Plot’ Sees One Rate Cut This Year
WASHINGTON (MaceNews) – The Federal Open Market Committee kept the fed funds rate as is again this time around while the “dot plot” projections that accompanied the policy statement contained hints of a slightly more hawkish stance, seeing just one rate cut this year. The statement text, with no dissents, follows: Recent indicators suggest that […]
Japan May Producer Prices Jump 2.4% Y/Y After 1.1% Rise in April on Higher Renewable Energy Utility Fees, Global Concerns over Copper Supply
Japan producer prices rise
Italy’s Premier Meloni Tops Italian Rivals in EU Vote, Key to New European Power Balance
Italy’s Meloni gets boost in EU elections
Japan Q1 GDP Slump Revised Up Slightly to 1.8% from 2.0% Drop as Upward Revision to Private Inventory Buildup Offsets Larger-Than-Expected Export Drop
Japan GDP slightly better in revised report
Japan April Household Spending Posts 1st Y/Y Rise in 14 Months on Higher Education Costs, More Gift Money at Ceremonies; Autos, Package Tours Slip
Japanese household spending rises from year ago
ISM: US Services Sector Swings Back into Growth in May from April’s Brief Contraction but More Firms Concerned About High Interest Rates
US service sector business rebounds
Bank of Canada Cuts Policy Rate by 25 Basis Points to 4.75% as Widely Expected amid Easing Inflation, Slower Growth
Bank of Canada cuts interest rates
Preview: Bank of Canada Set to Cut Policy Rate by 25 Basis Points amid Signs of Easing Inflation, Slowing Economic Activity
By Max Sato (MaceNews) – The Bank of Canada is widely expected on Wednesday to lower its policy interest rate — the target for overnight lending rates — by 25 basis points to 4.75% to help reduce high mortgage rates and other borrowing costs in light of easing inflation and slower economic growth, but some […]