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China's Central Bank to Keep Policy Support for Economy
China's central bank on Thursday said it would keep policy flexible and precise to boost domestic demand, while maintaining price stability, amid signs of a patchy economic recovery and rising deflationary risks. In its quarterly policy implementation report, the People's Bank of China said the authorities face some difficulties and challenges in promoting an economic recovery amid global uncertainties. "Prudent monetary policy should be flexible, moderate, precise and effective... and keep the scale of social financing and the money supply in line with the expected goals of economic growth and price ... (full story)
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High commercial real estate vacancies are expected to create some stress for smaller banks, Treasury Secretary Janet Yellen said Thursday. However, she said she does not see them ...
Today, I wish to report on the progress in disinflation in the euro area. Chart 1 shows the dynamics of headline and core inflation, extended forward through 2026 on the basis of the December 2023 Eurosystem staff projections.[ 1 ] Relative to its pandemic low point in late 2020, inflation started to increase in early 2021, rising above the two percent medium-term target in July 2021. Inflation continued to climb through the rest of 2021 and most of 2022, peaking at 10.6 percent in October 2022. Since late 2022, inflation has declined and stood at 2.8 per cent in January 2024. According to the December 2023 Eurosystem staff projections, inflation is expected to stabilise around the two per cent target from about the middle of 2025 onwards. post: #ECB CHIEF ECONOMIST PHILIP LANE SPEAKS IN WASHINGTON - BBG *ECB'S LANE: DISINFLATION TREND IS CONTINUING *LANE: DATA SUGGEST FASTER-THAN-EXPECTED NEAR-TERM DISINFLATION *LANE: ECB CONTINUING TO FOLLOW A DATA-DEPENDENT APPROACH *LANE: MUST BALANCE RISK OF OVERTIGHTENING WITH… post: ECB Lane: Need Further Disinflation To Be Sure Of Path To 2% Goal
Germany’s CPI is expected at 0.2% m/m on Friday, which would confirm the initial estimate from two weeks earlier. On an annualized basis, the initial estimate for CPI came in at ...
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Thank you for that kind introduction and for having me here today. I thought I would speak about the economy and where we may be headed. I caution you these are my thoughts alone and not necessarily those of anyone else on the Federal Open Market Committee or in the Federal Reserve System. The recent data have been remarkable. Twelve-month PCE inflation is at 2.6 percent. Core is down to 2.9 percent. Six-month and even seven-month core inflation are even lower, just below our target at 1.9 percent. The 12-month numbers will almost assuredly get even better over the next five months, as we cycle over last year’s inflationary winter and spring. At the same time, contrary to most forecasts (including mine), the progress on inflation has come while the economy has remained healthy. The unemployment rate remains low at 3.7 percent. On Friday, we added another 353,000 jobs. And GDP growth in the last quarter of 2023 was an impressive 3.3 percent. If you had told me a year ago we would end 2023 with 2.6 percent inflation and 3.7 percent unemployment, I would have taken it. As you may know, I don’t like to depend solely on published data. I spend a lot of my time talking to businesses across the Fifth District. And there, too, I’m hearing good news. With the exception of interest-sensitive sectors like banking and real estate, the tone has shifted decisively away from talking about a recession. They may not be hiring as much, but they’re not firing either. And while price-setters continue to try, they seem more and more convinced that price increases will be smaller, less frequent, and less likely to stick. I take a lot of signal from the major consumer products manufacturers. In their most recent earnings reports, I was happy to see their realized price increases have finally moderated, from double digits a year ago to low single digits today. So now the phrase “soft landing” enters every conversation, suggesting a scenario where inflation returns to our 2 percent targ post: <=USD>: *BARKIN REITERATES FED CAN TAKE ITS TIME BEFORE CUTTING RATES *BARKIN: DEMAND, INFLATION, JOBS ON `GOOD' PATH BUT NO CERTAINTY *BARKIN:SENTIMENT REBOUND, LOOSER FINANCIAL CONDITIONS POSE RISK *BARKIN: TIGHT JOB MARKET MEANS WAGE PRESSURE LIKELY TO PERSIST post: Fed's Barkin: Ample Evidence Americans Continue To Spend - In Aggregate, Past Rate Hikes Still Working Way Into Economy post: Fed's Barkin: Would Like To See A Broadening In Forces Lowering Inflation - Would Like To See Rents, Service Prices Cool More post: FED'S BARKIN Q&A AT ECON CLUB OF NY: WITH ECONOMY AS STRONG AS IT IS, 'HARD TO FEEL URGENCY ON TAKING RATES DOWN' #InterestRates
post: ? ECB'S HOLZMANN: CERTAIN CHANCE THAT ECB WON'T CUT RATES THIS YEAR
Mention the government’s annual revisions to seasonal adjustment factors for monthly inflation data and you’re likely to make eyes glaze over, even among hardcore economics nerds. ...
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- Posted: Feb 8, 2024 11:32am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 2,133