FOMC Minutes Show Central Bank Bedeviled by Uncertainty, Unsure of Future Rate Cuts But Still Hoping For This Year
WASHINGTON (MaceNews) – The Federal Open Market Committee’s latest meeting saw a cautious wariness about the possible arrival of worse data – anticipating the day’s CPI — but still hopeful for a rate cut or more later this year, according to the minutes of the meeting released Wednesday. The portion of the minutes devoted to […]
Bank of Canada Keeps Policy Rate at Restrictive 5% for 6th Straight Meeting but Points to Easing Price, Wage Pressures; Governor Won’t Rule Out a June Rate Cut
–Governing Council Looking for Evidence Downward Momentum in Inflation Is Sustained–Governor Macklem: Lowering Policy Rate Too Early or Cutting Too Fast Could Jeopardize Progress Made Bringing Inflation Down–Macklem: A June Rate Possible on Condition Policymakers Become More Confident that Inflation is Clearly on Path to 2% By Max Sato (MaceNews) – The Bank of Canada […]
Japan March Producer Inflation Picks Up Slightly to 0.8% from January’s 0.7% as Base Effect of Utility Subsides Has Waned, Import Costs Up on Weak Yen
—Producer Inflation Has Slowed from Recent Peak of 10.6% in December 2022 Amid Relatively Tame Commodities Markets–Producer Prices Up 0.2% M/M on Non-Ferrous Metals, Farm Produce, Utilities By Max Sato (MaceNews) – Producer prices in Japan rose 0.8% on the year in March, as expected, accelerating slightly from an upwardly revised 0.7% rise in February […]
Preview: Bank of Canada Expected to Keep Policy Rate at 5%, Facing Tough Decision Ahead as Jobless Rate Rises but Wage Pressures Remain
–Governing Council Monitoring Inflation Expectations, Wage Growth, Corporate Pricing–Governor Macklem Wants to See Clear Downward Momentum in Underlying Inflation By Max Sato (MaceNews) – The Bank of Canada is widely expected to maintain its policy interest rate – the target for overnight lending rates – at 5.0% on Wednesday for the sixth straight meeting as […]
ISM: US Services Sector Expands for 15th Straight Month in March but Key Index Unexpectedly Slips on Slower New Orders Growth, Weaker Employment
US service sector growth slows
Japan March Tokyo Core CPI Annual Rate Eases Slightly to 2.4% after Rising to 2.5% in February on Waning Base Effect of Utility Subsidies
Tokyo core CPI declines
Preview: BOJ March Quarter Tankan to Show Major Manufacturers’ Sentiment Posts 1st Drop in 4 Quarters as Suspended Vehicle Output Causes Widespread Downturn
Forecasters see Tankan report showing weaker outlook
Japan Govt Keeps Its View on Moderate Economic Recovery After Downgrade Last month, March BOJ Rate Hike as Many Firms Offer Higher Wages to Secure Workers
Japan sees moderate recovery continuing
FOMC Leaves Funds Rate Unchanged; No Clear Signal When Rate Cuts To Start
– 2024 Rate Cut Projections Stay at Three – to 4.6%; Rate Cuts Trimmed for 2025, 2026 – Powell: FOMC Wants ‘Confirmation’ Inflation Falling After Jan, Feb Data – Powell: FOMC Could Decide To Curb Balance Sheet Run-off “Fairly Soon” By Steven K. Beckner (MaceNews) – Not long ago, many were expecting the Federal Reserve […]
TRANSCRIPT: Fed Powell’s Post-FOMC News Conference Offers No Surprises … Again
WASHINGTON (MaceNews) – The transcript of Federal Reserve Chair Jerome Powell’s post-FOMC meeting news conference Wednesday follows: