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ECB's Kazaks: Rates to remain at 4% some time before likely cut
ECB’s Kazaks: Rates To Remain At 4% Some Time Before Likely Cut - Latvian TV
— LiveSquawk (@LiveSquawk) December 20, 2023
- Not As Optimistic As Markets On First Cut Timing
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ECB'S KAZAKS: THE FIRST RATE CUT COULD COME AROUND MID-2024.
— Breaking Market News (@financialjuice) December 20, 2023
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The UK's inflation rate has fallen to the lowest level in more than two years, but the cost of living is still rising faster here than in most of the world's advanced economies. ...
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, December 1 and continued on December 4 and 5. The Governor presided over these meetings. Members in attendance were Governor Tiff Macklem, Senior Deputy Governor Carolyn Rogers and Deputy Governors Toni Gravelle, Sharon Kozicki, Nicolas Vincent and Rhys Mendes. Governing Council members began their deliberations by discussing recent global economic developments. Global growth had continued to slow since October, and inflation had eased in most major economies. While the overall growth profile was consistent with expectations in October, the US economy had been stronger than expected. This was offset by weakness in the rest of the world. Members discussed the continued strength in US consumer spending and the drawdown in accumulated savings. Growth in the euro area weakened as monetary policy contributed to slower spending. In China, growth rebounded due to increased consumer spending, but uncertainty about the property sector and policy response remained high. As global growth slowed in recent months, inflation eased further. Lower energy prices contributed to a drop in year-over-year inflation in the United States and the euro area. Lower inflation for food and core goods also contributed to the decline in both economies. post: BOC SAYS HIKES MAY STILL BE NEEDED TO RESTORE PRICE STABILITY post: BANK OF CANADA SEES INCREASED CHANCE RATES NOW HIGH ENOUGH post: BoC Summary Of Deliberations: Members Agree Risks To Inflation Outlook Remain - Sees Increased Chance Rates Now High Enough - Wage Growth Of 4% - 5% 'Not Consistent' With Reaching 2% Target - Data Indicated Rate Policy Working To Slow Activity, Ease Price Pressures
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- Posted: Dec 20, 2023 1:51pm
- Submitted by:Category: Low Impact Breaking NewsComments: 0 / Views: 2,942