Share: In an interview with CNBC on the sidelines of the Jackson Hole Symposium, “right now I think that we’ve probably done enough and with monetary policy in a restrictive stance” Federal Reserve Bank of Philadelphia President Patrick Harker said. Key takeaways “Fed must deal with inflation and is dealing with it.” “Fed will need to
Share: UOB Group’s Senior Economist Julia Goh and Economist Loke Siew Ting review the latest interest rate decision by the BSP. Key Takeaways Bangko Sentral ng Pilipinas (BSP) extended a pause in its tightening cycle for the third straight meeting, as widely expected. It left the overnight reverse repurchase (RRP) rate untouched at
Share: USD/INR prints the first daily loss in three, retreats from multi-day high. China inflation, Biden Administration’s easy stand on Beijing-backed AI investment ban favor pullback. Cautious mood ahead of RBA Interest Rate Decision, US inflation data restrict Indian Rupee moves. Softer Oil price, US Dollar’s retreat from key resistance add strength to
Share: According to Federal Reserve Bank of Chicago President Austan Goolsbee, they should start thinking about how long to hold rates. In an interview with Bloomberg, he said that the last couple of inflation readings were pretty positive. Regarding Fitch’s US credit downgrade, Goolsbee mentioned that it won’t make much difference. On the
Share: Atlanta Federal Reserve Bank President Raphael Bostic said on Friday to Bloomberg, that the central bank is likely to keep monetary policy in a restrictive territory well into 2024. He added that the Fed is on a trajectory to get to the 2% inflation target. Asked about the recent jobs report, Bostic
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Share: The Federal Reserve (Fed) released the July 2023 Senior Loan Officer Opinion Survey on Bank Lending Practices (SLOOS) that “addressed changes in the standards and terms on, and demand for, bank loans to businesses and households over the past three months, which generally correspond to the second quarter of 2023.” The survey
Share: At the highly-anticipated July policy review meeting, the Bank of Japan (BoJ) board members decided to leave their current monetary policy settings unchanged, maintaining rates and 10yr JGB yield target at -10bps and 0.00% respectively. Summary of the statement BoJ maintains band around 10-year JGB yield target at up and down 0.5% each. BoJ makes decision on
Share: Dow Jones rises after the Fed executes a 0.25% hike at its meeting on Wednesday – as expected. The index rose intitially, clocking 0.35% gains but then fell flat soon after. Dow component earnings results have been mixed so far this week with plenty still to report. The Dow Jones Industrial Average
Share: Federal Reserve is widely expected to raise its policy rate by 25 bps to 5.25-5.50%. Fed has been struggling to convince markets that they will raise rates at least twice more this year. US Dollar valuation could be significantly impacted by Chairman Powell’s comments. The Federal Reserve (Fed) is expected to raise
