Central Bank Watch – Week Ahead Focus on Canada, Australia and India Monetary Policy

Viewing 9 posts - 1 through 9 (of 9 total)
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  • #68132
    Truman
    Participant

    Bank of England’s executive director of markets, Andrew Hauser, was appointed to be the next deputy governor of the Reserve Bank of Australia
    Reserve Bank of New Zealand’s shadow board recommends no change to the official cash rate this month
    ECB policymaker Muller said that inflation is clearly slowing and that another rate hike should not be necessary

    #68166
    Helmholtz Watson
    Participant

    The People’s Bank of China released its Monetary Policy Implementation report for Q3, noting that the 5.0% growth target for 2023 is achievable.

    #68167
    Helmholtz Watson
    Participant

    European Central Bank policymaker Nagel said that it is too early to discuss rate cuts while policymaker De Cos echoed the sentiment, though he acknowledged that demand is weakening.

    Bank of England policymaker Ramsden highlighted the risk of sticky inflation in the services sector.
    EasyJet will reinstate its dividend after returning to profitability.

    #68168
    Helmholtz Watson
    Participant

    Feds Waller:

    Need some improvement in services inflation X housing for overall inflation to reach 2%.
    Increasingly confident policy is well-positioned to slow economy, get inflation back to 2%
    Cannot say for sure if Fed has done enough
    Data over the next couple months will hopefully tell if the Fed has done enough
    Recent loosening of financial conditions a reminder to be careful about relying on market tightening to do Fed’s job
    Encouraged by signs of moderating economic growth
    Inflation still too high, too early to say if slowing will be sustained
    Supply-side problems mostly behind us. Monetary policy will need to do the work from here.
    Premature to rely on productivity growth gains to guide stance of Fed policy.
    Consumer spending is calling, manufacturing and nonmanufacturing activity has slowed.
    Labor market is cooling off, but still fairly tight and will watch closely.
    Need some improvement in services inflation ex housing for overall inflation to reach 2%
    Will closely monitor goods, services prices in coming weeks to see if inflation still on downward path.

    Fed Waller is a Governor on the Federal Reserve board which gives him a permanent vote on policy.

    #68169
    Helmholtz Watson
    Participant

    Chicago Fed President Austan Goolsbee at an agricultural conference.

    “Food price inflation has been well-above levels comfortable for average Americans,” he said. “But overall we have made progress on inflation outside of the food sector; it’s been coming down, it’s not yet down to target but 2023 we’re on path to set the highest drop in the inflation rate in 71 years.”

    #68225
    TradersCom
    Keymaster

    Fed’s Daly:
    It’s still too early to know if Fed is done hiking rates
    Should take our time now and remain vigilant’
    Need to better understand what’s happening with the economy and inflation
    Latest data is encouraging
    I’m not thinking about rate cuts at all right now
    Economy needs to cool down a little more
    Further rate hikes are not our ‘base case’
    Hearing more and more it is harder for companies to pass along price hikes
    People’s fear of recession has faded into the background

    #68226
    TradersCom
    Keymaster

    Fed’s Williams:
    If inflation pressures persist, we could hike again
    We are at or near the peak of interest rate target

    #68294
    Truman
    Participant

    European Central Bank policymaker Nagel repeated that it is too early to discuss rate cuts and that inflation could still accelerate.
    Goldman Sachs now expects that the first cut from the ECB will take place in Q2 instead of Q3. Fitch Ratings is expected to release its latest review of Greece’s rating later today.

    #68125
    Helmholtz Watson
    Participant

    In the week ahead decisions by the Bank of Canada, Reserve Bank of Australia, Poland’s central bank and the Reserve Bank of India who are all expected
    [See the full post at: Central Bank Watch – Week Ahead Focus on Canada, Australia and India Monetary Policy]

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