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Poland Keeps Key Interest Rate Unchanged
Poland’s central bank left its benchmark interest rate unchanged for the fourth consecutive month as markets and policymakers weigh whether inflation risks warrant bringing a monetary easing cycle to an end. The rate-setting Monetary Policy Council kept the benchmark on hold at 5.75%, as expected by all 35 economists surveyed by Bloomberg. Borrowing costs are likely to hold steady at least until March, when the central bank releases its fresh inflation projection. In the meantime, investors will look to the monthly conference with Governor Adam Glapinski on Thursday for more guidance on the panel’s next moves. ... (full story)
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- From forexlive.com|Feb 7, 2024|4 comments
There are some details of the Hamas proposal which are not acceptable according to sources. Axios: • Senior Israel official believes they will reject Hamas response to plan for hostage release. Israel's Netanyahu is to hold a press conference at 12:30 PM ET post:
AXIOS REPORTER TWEETS: AN ISRAELI OFFICIAL TOLD ME HE EXPECTS ISRAEL TO REJECT HAMAS' RESPONSE TO THE HOSTAGE DEAL PROPOSAL. THE OFFICIAL SAID THE BALL WILL THEN MOVE TO THE MEDIATORS QATAR AND EGYPT THAT WILL TRY TO PRESS HAMAS TO ACCEPT A MORE REASONABLE FRAMEWORK. post:
*NEW ROUND OF GAZA TALKS TO START THURSDAY IN CAIRO: AFP
- From channelnewsasia.com|Feb 7, 2024
Most emerging market currencies will struggle to recoup this year's losses against the dollar in coming months as expectations for aggressive rate cuts from the U.S. Federal ...
- From marketpulse.com|Feb 7, 2024
Since our last analysis, the EUR/AUD has rallied as expected in the short term and hit the 1.6655 resistance (printed an intraday high of 1.6675 on 18 January). Thereafter, it ...
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- From streetinsider.com|Feb 7, 2024
U.S. crude oil refinery inputs averaged 14.8 million barrels per day during the week ending February 2, 2024, which was 9 thousand barrels per day less than the previous week’s ...
- From cnbc.com|Feb 7, 2024|1 comment
Minneapolis Federal Reserve President Neel Kashkari said Wednesday that he expects the central bank to cut rates only a few times this year, contrary to market expectations. ...
- From federalreserve.gov|Feb 7, 2024
I am very pleased to be speaking here at the Brookings Institution, one of the country's premier centers for policy discussion and analysis.1 As you all know, the Federal Open Market Committee (FOMC) has been working to lower inflation in the context of achieving our dual mandate of maximum employment and price stability. Today I will discuss recent economic developments in the U.S., talk about how I approach our dual mandate, and explain how I view the current stance of monetary policy. By way of introducing myself, my career in both academia and public service has included a focus on both labor markets and inflation. In my academic work, I have explored various aspects of labor markets—including the effects of labor market policies and the role of educational attainment, among other topics—as well as detailed measurement of productivity and prices. As the chief economist at the U.S. Department of Labor, I engaged regularly with the Bureau of Labor Statistics, which produces data on both employment and inflation. I have approached these topics through both a rigorous focus on measurement considerations and a broader view of the real-world experiences of the people who underlie the headline data. I will continue to do that as a member of the FOMC. With that background, I will now turn to recent economic developments and the outlook for this year. The pace of inflation continues to slow. Twelve-month inflation, as measured by the personal consumption expenditures (PCE) index, was 2.6 percent in December, down from its peak of 7.1 percent in June 2022. And the six-month rate for PCE inflation was even lower, at 2 percent. While the FOMC uses PCE inflation for our 2 percent target, we also look to core PCE inflation, which excludes more volatile food and energy prices, as an indication of the underlying inflation trend. Core PCE inflation was 2.9 percent in December, also down from its high of 5.6 percent in February 2022, and six-month core PCE inflation was just 1.9 percent in December. We have made great progress. The slowing in total and core PCE inflation that we have seen over the past year or so is the most dramatic since the early 1980s—even though this progress has been uneven from month to month. post: KUGLER: FED’S JOB ON INFLATION ‘NOT DONE YET’ #News #Markets #INFLATION #live post: ? FED’S KUGLER: MAY BE APPROPRIATE TO CUT RATES `AT SOME POINT’ post:
FED'S KUGLER: OUR POLICY STANCE IS RESTRICTIVE. post: ? FED'S KUGLER: IF DISINFLATION PROGRESS STALLS, MAY BE APPROPRIATE TO HOLD POLICY RATE STEADY FOR LONGER
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- Posted: Feb 7, 2024 10:15am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 1,902