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Euro zone inflation stubborn and wages are a risk: policymakers
Euro zone inflation is stubbornly and may require a protracted period of high interest rates to contain, in part due to an exceptionally tight labour market, the European Central Banks' (ECB) two German policymakers said on Wednesday. The ECB has lifted rates by a combined 4 percentage points in the past year and promised another move in July as it could take until 2025 to get price growth back to 2%. "Inflation to me is like a greedy beast and we do have to fight against this very greedy beast," Bundesbank chief Joachim Nagel told a conference. "As inflation fighters we have to be very stubborn because ... (full story)
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A winning bidder in a charity auction will pay $115,000 for a chance to lunch with Bridgewater Associates founder and billionaire investor Ray Dalio. Dalio will match the bid in a ...
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post at 12:43pm: Fed’s Goolsbee: Decision Last Week Was A Close Call For Me - It's Perfectly Appropriate To Have A Reconnaissance Mission Now - Trying To Figure Out If We Have Done Enough, How Much More Needs To Be Done post at 12:42pm: FED'S GOOLSBEE: THE JOB NUMBERS ARE EXTREMELY ROBUST. post at 12:45pm: Fed’s Goolsbee: I’ve Not Decided the Rate Decision in July post at 12:48pm: Fed's Goolsbee Says Over Next Couple Months Will Get A Sense If Goods Inflation Is Coming Down - By The Fall, Housing Inflation Should Begin Falling - We Should Be Able To Get 'yay' Or 'nay' Readings On Persistence Of Inflation, Not Just Confusing Signals
Federal Reserve Chair Jerome Powell said on Wednesday he expects the U.S. dollar to remain the world’s reserve currency as long as democratic institutions and the rule of law ...
This summary reflects discussions and deliberations by members of Governing Council in stage three of the Bank’s monetary policy decision-making process. This stage takes place after members have received all staff briefings and recommendations. Governing Council’s policy decision-making meetings began on Friday, June 2. The Governor presided over these meetings. Members in attendance were Governor Tiff Macklem, Senior Deputy Governor Carolyn Rogers, and Deputy Governors Paul Beaudry, Toni Gravelle, Sharon Kozicki and Nicolas Vincent. Governing Council began by discussing recent global economic developments. On balance, global growth has evolved broadly in line with the projection in the April Monetary Policy Report (MPR), and rising interest rates are weighing on growth in most regions. In both the United States and the euro area, economic growth was slowing and headline inflation was coming down as energy prices fell. However, core inflation in both regions showed little to no decline. Governing Council reflected on some common themes that were evident across advanced economies: namely tight labour markets, slow progress in bringing core inflation down and—in North America—surprisingly resilient consumer spending. These occurred despite rapid and significant monetary policy tightening by central banks over the past year. Governing Council members revisited their April discussions about the banking sector stress in the United States and Europe. Members agreed that the risk of re-emerging or more acute stresses remained, but this probability had decreased. With an agreement on the debt ceiling reached and the banking stress receding, market attention was returning to core macroeconomic developments, inflation and monetary policy. The Chinese economy had rebounded in the first quarter, after the pandemic restrictions had been lifted. However, growth was led by services consumption and public investment, with relatively less strength in goods consumption, exports and business investment. If this mix of ac post at 1:31pm: BOC MINUTES: AHEAD OF JUNE 7 DECISION, GOVERNING COUNCIL DEBATED WHETHER TO KEEP RATES ON HOLD AND SIGNAL A HIKE WAS LIKELY IN JULY. post at 1:31pm: BOC MINUTES: GOVERNING COUNCIL FELT Q2 GROWTH WAS LIKELY TO BE STRONGER THAN FORECAST IN APRIL. post at 1:31pm: BOC MINUTES: GOVERNING COUNCIL IS INCREASINGLY CONCERNED THAT THE DISINFLATIONARY MOMENTUM NEEDED TO BRING INFLATION BACK DOWN TO 2% COULD BE WANING.
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- Posted: Jun 21, 2023 12:15pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 908
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