<a href="https://craft.macenews.com/admin/entries/stories/52087-bank-of-canada-expected-to-lift-key-rate-by-25-bps-then-pause-this-year-as-inflation-continues-easing">Bank of Canada Expected to Lift Key Rate by 25 Bps, then Pause This Year as Inflation Continues Easing</a>
By Max Sato (MaceNews) – The Bank of Canada is widely expected by economists to slow the pace of its tightening, raising its short-term interest rate target by 25 basis points to 4.50% on Wednesday after conducting more aggressive hikes in 2022, then take a pause for the rest of the year as inflation eases […]
Fed’s Brainard: Slower Rate Hike Pace Lets FOMC ‘Probe’ For ‘Sufficiently Restrictive’ Level
By Steven K. Beckner (MaceNews) – Federal Reserve Vice Chairman Lael Brainard said Thursday that a slower pace of monetary tightening will allow the Fed to “probe for” a level of interest rates that is “sufficiently restrictive” to bring down inflation, while keeping an eye on divergent economic risks in a highly uncertain environment. Brainard, […]
<strong>BOJ Keeps Easing Stance Amid Slowing Global Growth, Expects Cost-Push Inflation to Lose Steam in FY23</strong>
–Board Sees 3% Core CPI Rise in FY22 to Slow to 1.6% in FY23, 1.8% in FY24 –Board Revises Down GDP Forecasts to 1.9% in FY22, 1.7% in FY23, 1.1% in FY24 By Max Sato (MaceNews) – The Bank of Japan said Wednesday its policy board decided unanimously to maintain its basic monetary easing stance, […]
<strong>White House and Other Schedules for Wednesday, Jan 18</strong>
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. data and Federal Reserve events: DAILY GUIDANCE AND PRESS SCHEDULE FOR WEDNESDAY, JANUARY 18, 2023 In the morning, the President will receive the President’s Daily Brief. This meeting will be closed press. In-Town […]
Japan December Producer Inflation Remains Elevated as Utilities Up Over 50% Y/Y, Steel, Paper Still Costly
By Max Sato –Annual Rate +10.3% in September 2022 Remains Highest in 41 Years–Weak Yen Continues Boosting Import Costs for Producers but at Slower Pace Amid Recent Dollar Pullback (MaceNews) – Producer inflation in Japan popped above 10% in December as utility charges stood over 50% above year-earlier levels and firms continued passing higher costs […]
Analysis: The CPI Conundrum – Smaller Rate Hikes Don’t Mean a Lower Terminal Rate
By Denny Gulino WASHINGTON (MaceNews) – The latest Consumer Price Index figures – suggesting a further softening of the inflation threat, rekindled hopes for a Federal Reserve pivot – hopes at odds with clearly stated Fed intentions to do no such thing. Good news for used cars, energy and some other categories came up against […]
White House and Other Schedules for Thursday, Jan 12
WASHINGTON (MaceNews) – The following are Thursday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as U.S. data and Federal Reserve events: DAILY GUIDANCE AND PRESS SCHEDULE FOR THURSDAY, JANUARY 12, 2023 In the morning, the President will receive the President’s Daily Brief. This meeting will be closed press. Later, the […]
Analysis: US Political System Struggles to Deal With Era of Limits
By Denny Gulino WASHINGTON (MaceNews) – As the Speaker of the U.S. House of Representatives enters 2023 as a greatly diminished figure, derided by late show comedians as “House Squeaker,” his humiliating path to leadership may be a bell which tolls for his peers in the U.S. political system as well. Although many market participants […]
<strong>Japan December Tokyo Core CPI Up Above-Forecast 4.0% Y/Y, Sets Another 40-Year High on Widespread Markups</strong>
–Total CPI Also Jumps 4.0% Y/Y, Highest in 41 Years With or Without Effects of 2014, 1997 Sales Tax Hikes –Narrow CPI (Ex-Fresh Food, Energy) +2.7%, 30-Year High, As Expected By Max Sato (MaceNews) – Consumer prices in Tokyo, the leading indicator of the national average, continued rising at the fastest pace in decades in […]
US Consumer Near-Term Inflation Expectations Down in December; Spending Plans Fall
NEW YORK (MaceNews) – US consumer inflation expectations were mixed in December with short-term expectations down while medium term expectations were flat, and long-term expectations rose, according to a survey from the Federal Reserve Bank of New York. Expectations for household income rose but spending growth plans dropped, and concern about possible job losses increased […]