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...Traders are even building up bets that the next move might be up. Borrowing costs at the end of 2024 are therefore highly uncertain....
...It was a moment of vindication for the Federal Open Market Committee, whose rosy outlook in December had defied more gloomy expectations from economists....
...US Federal Reserve chair Jay Powell has said it is likely to take “longer than expected” for inflation to return to the central bank’s 2 per cent target and justify cuts to interest rates....
...The market reaction came after the Federal Open Market Committee voted unanimously to leave rates unchanged at a 23-year high of 5.25 per cent to 5.5 per cent....
...Overall, the delay means that US banks will have to wait a couple of months longer than hoped for an easing of pressure on deposit costs....
...A top Federal Reserve official has said “disappointing” inflation data means the US central bank should “push back” the timing of cutting interest rates from their current 23-year high....
...The trading activity of two former top Federal Reserve officials created an “appearance of conflict of interest” with their duties as US monetary policymakers, although they were cleared of any unlawful...
...Ten of the Federal Reserve’s 12 rate-setting voters have managed at least 20 public appearances between them in the past fortnight....
...The market reaction on Wednesday came after the Federal Open Market Committee voted unanimously to leave rates unchanged at a 23-year high of 5.25 per cent to 5.5 per cent....
...In its new mood for effective communication, the Bank of England’s Monetary Policy Committee was even more explicit in the minutes of its March meeting: “The committee recognised that the stance of monetary...
...Powell told US senators on Thursday that the Federal Open Market Committee was “in the right place” on monetary policy while it waited for proof that almost two years of higher rates had tamed inflation....
...But you are in the FOMC [Federal Open Market Committee], sitting around the table, you’re saying inflation has come down from the peak in 2022. That’s great. And went down from 9 per cent to roughly 3....
...Loretta Mester, president of the Cleveland Federal Reserve and a voting member of the Federal Open Market Committee, revealed in a speech on Tuesday that she had raised her estimate of the longer-run federal...
...Jay Powell moved to cool speculation that the Federal Reserve would begin cutting interest rates as soon as March, saying that was not the “base case” as the US central bank considers easing monetary policy...
...Analysts have upgraded their forecasts for the US economy this year, bolstering hopes of a soft landing and bets that the Federal Reserve will delay interest rate cuts until the summer....
...Powell’s assessment was endorsed by members of the policy-setting Federal Open Market Committee....
...Federal Reserve officials were wary of cutting interest rates too quickly this year, according to a record of their last meeting in January, as they remained “highly attentive” to the risk of resurgent inflation...
...The head of the New York Federal Reserve said he still expects inflation to drift towards the US central bank’s 2 per cent goal, despite some bumpy recent readings....
...An SRR could follow the model of the Federal Reserve’s efforts to address financial stability risk: aiming to prevent crises, and reducing harm when they occur....
...He said the former Federal Reserve chair Ben Bernanke, who is advising the bank on forecasting, was actively looking at a greater role for scenarios in future BoE analysis, policymaking and communication...
...At the same time, the bank cut its loss reserves for those loans by $50mn to just under $1.3bn....
...Shortly before Jay Powell, Federal Reserve chair, announced that the central bank was keeping benchmark rates at 5.25 per cent to 5.5 per cent, Colin Simpson, Manulife’s chief financial officer, revealed...
...BlackRock has 10 per cent or more of the shares in 38 bank holding companies that are supervised by the US Federal Reserve or the Office of the Comptroller of the Currency but which own FDIC-supervised banks...
...US central bank officials still expect to be able to cut interest rates three times this year, despite the “persistence of high inflation” at the start of this year, according to minutes of the Federal Reserve...
...A senior European Central Bank executive has said publishing the interest rate forecasts of its policymakers — similar to the US Federal Reserve’s so-called “dot plot” — could help to address shortfalls...
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