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BOJ Expected To Hold Rates Steady
Colombia University Professor Takatoshi Ito talks about what to expect from the next Bank of Japan rate decision. He speaks with Scarlet Fu and Katie Greifeld on "Bloomberg Markets: The Close."
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- From rba.gov.au|Dec 18, 2023
Members commenced their discussion of international economic developments by noting that the information on global inflation had been a little more encouraging over the prior month. Headline inflation rates had declined, driven by a fall in oil prices, while core inflation had continued to ease. Goods prices had declined in some countries in preceding months. However, inflation in the services sector had declined only gradually, reflecting still-tight labour markets, and housing inflation remained strong in a number of countries. Central banks generally expected inflation to return to their targets in late 2024 or 2025. Members observed that output growth in several advanced economies had slowed noticeably in response to tighter monetary policy and cost-of-living pressures, particularly in Europe. In the United States, output growth had held up better than expected, helped by resilient consumption. Labour markets remained tight, but conditions had clearly eased in response to the slowing in economic activity. Job vacancies had fallen and unemployment rates, while still very low, had increased over preceding months, including in the United States. The pace of wages growth remained above levels considered consistent with central banks’ inflation targets for some economies, but they had generally moderated in response to the gradual easing in labour market conditions and inflation. As a result, core inflation was expected to continue to moderate. Turning to developments in China, members observed that the latest indicators of activity had generally been positive, and growth in retail sales and industrial production in October had remained strong. Activity had been supported by the continued recovery in services consumption after the pandemic, along with a range of supportive fiscal policy measures. There had, however, been little sign of improvement in the property sector. Real estate investment had continued to decline because of weak demand and liquidity constraints facing property developers. Nonetheless, the continued positive information about the Chinese economy outside the propert post:
RBA: BOARD CONSIDERED WHETHER TO RAISE RATES BY 25 BPS OR HOLD STEADY. post:
RBA: WHETHER FURTHER TIGHTENING REQUIRED WOULD BE DECIDED BY DATA AN ASSESSMENT OF RISKS. post: RBA: RISK INFLATION COULD STAY HIGH TOO LONG BALANCED BY RISK OF SHARPER SLOWDOWN IN DEMAND post:
RBA: BOARD NOTED RBA STAFF FORECAST HAD INFLATION RETURNING TO TOP OF BAND BY END 2025 RATHER THAN MIDPOINT.
- From schwab.com|Dec 18, 2023
History shows us that the biggest risks in a typical year aren't usually from out of left field (although that sometimes happens, as it did in 2020 with the COVID-19 outbreak). ...
- From channelnewsasia.com|Dec 18, 2023
Asian shares and the yen steadied early on Tuesday as traders' focus turned on Japan's central bank and whether it might edge further away from its ultra-easy monetary policy, ...
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- Posted: Dec 18, 2023 7:17pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 4,133
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