Thursday, 25 November, 2021
GS: The November FOMC minutes provided little new insight into the FOMC’s tapering plans. All participants judged it appropriate to announce the start of tapering at the November meeting and “some” participants favored a faster taper, but the September minutes had already revealed that “several” participants advocated for a more rapid reduction of purchases. Inflation commentary in the minutes was hawkish on net, however and since the November meeting, several FOMC members have signaled openness […] Read More
Monday, 22 November, 2021
REFINITIV Alerts History 22-Nov-2021 14:00:00 – BIDEN INTENDS TO NOMINATE JEROME POWELL AS FED CHAIR, LAEL BRAINARD AS VICE CHAIR – WHITE HOUSE 22-Nov-2021 14:00:00 – WHITE HOUSE SAYS POWELL HAS PROVIDED STEADY LEADERSHIP DURING AN UNPRECEDENTEDLY CHALLENGING PERIOD 22-Nov-2021 14:00:00 – WHITE HOUSE SAYS BRAINARD HAS PLAYED A KEY LEADERSHIP ROLE AT THE FED 22-Nov-2021 14:00:00 – WHITE HOUSE SAYS POWELL AND BRAINARD SHARE THE ADMINISTRATION’S FOCUS ON ENSURING THAT ECONOMIC GROWTH BROADLY BENEFITS […] Read More
Monday, 15 November, 2021
Central banks will stay on the alert as they guide the recovery Progress in overcoming the pandemic’s effects is faster than expected, but monetary stimulus is still required Tiff Macklem The writer is governor of the Bank of Canada https://www.ft.com/content/44902f21-80fb-47b3-a56d-1356d359b679 Even as the global economy recovers, the pandemic continues to challenge people, businesses and governments. For central banks, charting and communicating monetary policy now requires a more delicate balance. In Canada, as in many other […] Read More
Wednesday, 10 November, 2021
RBA economic forecasts at odds with its guidance on rates: CBA Ronald Mizen Economics correspondent https://www.afr.com/policy/economy/rba-economic-forecasts-at-odds-with-its-guidance-on-rates-cba-20211110-p597s3 The Reserve Bank of Australia’s outlook for the economy – and therefore its guidance on interest rates – is inconsistent and should be overhauled, according to Commonwealth Bank economists. RBA governor Philip Lowe last week reiterated the central bank’s view the current record low 0.1 per cent cash rate would remain on hold until 2024, based […] Read More
Tuesday, 09 November, 2021
FRANKFURT, Nov 9 (Reuters) – Euro zone inflation is likely to fall back below 2% late next year but the European Central Bank should prepare for a less benign scenario, avoiding long policy commitments as upside risks dominate, Dutch policymaker Klaas Knot said on Tuesday. Inflation rose above 4% last month, more than twice the ECB’s 2% target. But the bank has pushed back on calls for tighter policy, arguing transitory forces are behind the […] Read More
Tuesday, 09 November, 2021
The U.S. Federal Reserve looks at a wide range of indicators in gauging how close the economy is to reaching full employment, Fed Chair Jerome Powell said on Tuesday, as he reiterated the benefits of targeting workers who often remain on the sidelines. “When we assess whether we are at maximum employment, we purposely look at a wide range of indicators,” Powell told a virtual conference on diversity and inclusion in economics, finance, and central […] Read More
Friday, 05 November, 2021
FT: UK lenders begin to raise mortgage rates despite BoE decision Mortgage borrowers’ chances of securing an ultra-cheap deal narrowed this week in spite of a decision by the Bank of England to hold interest rates at 0.1 per cent, as banks and building societies raised interest rates across their fixed-rate home loans. The central bank’s decision surprised financial markets, which had factored in a rise this month. Rates are nonetheless likely to rise to […] Read More
Wednesday, 03 November, 2021
FOMC: At 14:00EST/18:00GMT – FOMC rate decision and statement. No updated Summary of Economic Projections (SEPs). Chair Powell’s press conference will begin at 14:30ET/18:30GMT. Summary: It should be a more straightforward meeting with just the statement and Powell’s press conference to digest. Powell removed much of the guess work heading into this meeting at his appearance just ahead of the premeeting black out (10/22nd) in which he conceded he thinks it is time to taper, […] Read More
Tuesday, 02 November, 2021
https://www.ft.com/content/f993201b-2400-4c20-8d29-2d5bcfadfc59 The Bank of England should not raise rates yet Central bank should cease asset purchases and no longer reinvest maturing bonds THE EDITORIAL BOARD Add to myFT The bounceback has been much stronger than the Bank of England originally expected © Daniel Leal-Olivas/AFP/Getty Share on twitter (opens new window) Share on facebook (opens new window) Share on linkedin (opens new window) Share Save The editorial board 14 MINUTES AGO 0 Print this page Be […] Read More
Tuesday, 02 November, 2021
The Bank of England should not raise rates yet Central bank should cease asset purchases and no longer reinvest maturing bonds The editorial board 12 MINUTES AGO https://www.ft.com/content/f993201b-2400-4c20-8d29-2d5bcfadfc59 The arguments for and against the Bank of England raising its policy rate this Thursday are finely balanced. But ultimately members of the central bank’s Monetary Policy Committee should hold off and wait. While inflation has risen, and is likely to continue […] Read More
