- Story Log
User | Time | Action Performed |
---|---|---|
-
Market Hears a Dovish Fed and Sells the Greenback
The Federal Reserve triggered a dollar sell-off yesterday and follow-through selling was seen in Asia before profit-taking emerged. That created a new dollar selling opportunity in early European turnover. The FOMC revised up this year's growth forecast, shaved the unemployment projection, and while maintaining the PCE deflator forecast, and the median dot remained for three cuts this year. The soft-landing scenario was underscored and excited risk appetites. The G10 currencies are mixed ahead of the North American open. The Swiss franc is the weakest after the Swiss National Bank became the first G10 central bank to ... (full story)
- Comments
- Subscribe
-
- Older Stories
post: Turkish Central Bank Hikes One Week Repo Rate By 500Bps At 50.00% (Expected Unchanged)Press Release on Interest Rates (2024-14) The Monetary Policy Committee (the Committee) has decided to raise the policy rate (the one-week repo auction rate) from 45 percent to 50 percent. The Committee has also decided to adjust the monetary policy operational framework by setting the Central Bank overnight borrowing and lending rates 300 basis points below and above the one-week repo auction rate, respectively. In February, led by services inflation, the underlying trend of monthly inflation was higher than expected. While imports of consumption goods and gold slowed down and contributed to the improvement in the current account balance, other recent indicators imply that domestic demand remains resilient. Stickiness in services inflation, inflation expectations, geopolitical risks, and food prices keep inflation pressures alive. The Committee closely monitors the alignment of inflation expectations and pricing behavior with projections, and the impact of wage increases on inflation. In response to the deterioration in the inflation outlook, the Committee decided to raise the policy rate. Tight monetary stance will be maintained until a significant and sustained decline in the underlying trend of monthly inflation is observed, and inflation expectations converge to the projected forecast range. Monetary policy stance will be tightened in case a significant and persistent deterioration in inflation is foreseen. The decisiveness regarding tight monetary stance will bring down the underlying trend of monthly inflation through moderation in domestic demand, real appreciation in Turkish lira, and improvement in inflation expectations. Consequen
video AUDUSD had been losing ground since the beginning of March, dropping below its descending 50- and 200-day simple moving averages (SMAs). However, the pair managed to pause ...
A gangbusters jobs reading for February has confirmed the labour market remains red hot despite a broader economic slowdown. The economy added a blockbuster 116,500 jobs in ...
-
- Newer Stories
The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. At its meeting ending on 20 March 2024, the MPC voted by a majority of 8–1 to maintain Bank Rate at 5.25%. One member preferred to reduce Bank Rate by 0.25 percentage points, to 5%. Since the MPC’s previous meeting, market-implied paths for advanced economy policy rates have shifted up. In the United States and the euro area, inflationary pressures have continued to abate, though by slightly less than expected. Material risks remain, notably from developments in the Middle East including disruption to shipping through the Red Sea. Having declined through the second half of last year, UK GDP and market sector output are expected to start growing again during the first half of this year. Business surveys remain consistent with an improving outlook for activity. The fiscal measures in Spring Budget 2024 are likely to post: BoE’s Haskel And Mann Drop Votes For Higher Interest Rates -First Time Since September 2021 That No Member Voted For HikeBank of England keeps interest rate at 5.25% but cut moves closer The Bank of England interest rate has been kept at 5.25% for a fifth consecutive time, but says the prospects for a cut are "moving in the right direction". The nine-member rate-setting committee continued to collectively judge it was too early to contemplate a downwards move, despite further progress in taming inflation revealed earlier this week. However, two members who had previously voted for a rate hike dropped that view. It meant that eight of the nine supported no change while one member backed, for the second meeting in a row, a reduction to 5%. The minutes of the meeting made it clear the Bank was still worried about the outlook for inflation. While the pace of price growth in the economy is well down on the 11% witnessed at the height of the energy-driven cost of living crisis, a headline reading of 3.4% remains well above the Bank's target of 2%.
Dear Jeremy On 20 March 2024, the Office for National Statistics (ONS) published data showing that twelve-month inflation in the Consumer Prices Index (CPI) was 3.4% in February. ...
The national index edged up 0.1% month over month in February. Prices were up in 6 of the 27 census metropolitan areas (CMAs) surveyed, while prices were unchanged in 19 CMAs and ...
- Story Stats
- Posted: Mar 21, 2024 7:47am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 2,661
- Linked events: