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[ Fed ] December Meeting: Slower, Longer, Higher
On December 14 EST, the Federal Reserve raised interest rates by 50 basis points to 4.25%-4.5%, while releasing a new round of economic forecasts and dot plots, the main contents of which are as follows. Policy Statement Recent indicators point to moderate growth in spending and production. Employme
[Bank of Canada] Kozicki: Moving from Rate Hike Magnitude to Whether or Not to Raise Rates
Sharon Kozicki, Deputy Governor of the Bank of Canada, delivered a speech on December 8, the main points of which are as follows. In yesterday's meeting, we indicated that we will consider whether to raise interest rates further in the future. What we meant was that we expect our decision to be more
[Bank of Canada] Tightening Cycle Likely Nearing End
The Bank of Canada raised interest rates by 50 basis points to 4.25% on December 7, in line with market expectations, with the highest level of interest rates since December 2007. Its monetary policy statement is as follows. Canada's third-quarter GDP growth was better than expected, and the economy
[ECB] Lane: Inflation May Be Close to Peak, But There Will Be a Second Round of Inflation
Philip R. Lane, Member of the Executive Board of the ECB, Interviewed by Francesco Ninfole on December 6, the main points of which are as follows: Q: Has the euro zone reached peak inflation? A: It’ s probably too early to make that judgement, but I would be reasonably confident in saying that it is
[ Reserve of Australia ] 25 BPS Rate Hike, Further Hikes on the Horizon
The Australian Federal Reserve decided to increase the cash rate target by 25 basis points to 3.10% on December 6, with the following monetary policy statement. Inflation in Australia is too high. Returning inflation to target requires a more sustainable balance between demand and supply. Inflation
[ECB] Makhlouf: 50 BPS Rate Hike Needed in December at Least
ECB Governing Council member Gabriel Makhlouf, Governor of the Central Bank of Ireland, delivered a speech at the Institute of International and European Affairs on December 5, the main points of which are as follows. For monetary policy to be effective it has to be credible, and credibility and cle
【Fed】Q&A session after Powell's speech
Fed Chairman Jerome Powell spoke at Brookings Institution on November 30 (local time), the content of which is already known. This article explains the Q&A session after the speech, the main contents of which are as follows: Q: What is the rate of wage growth in line with the 2% inflation target? A:
【Fed】Slow Down Rate Hikes Is Appropriate, but the Peaking of Inflation is Unknown
Federal Reserve Governor Michelle W. Bowman said during an appearance on Dec 1st: As the federal funds rate approaches a sufficiently tight level, it would be appropriate to slow the pace of rate hikes as the Fed decides how much it needs to raise the target range. Despite October inflation data sho
[Fed] Cook: It's Prudent to Slow the Pace of Interest Rate Hikes
Federal Reserve Governor Lisa Cook spoke on the economic outlook and U.S. productivity on November 30. The key points are as follows. Inflation remains too much high, but we have begun to see some improvement in the inflation data (for October). Nonetheless, I would be cautious about reading too muc
[Fed] Beige Book: Inflation Expected to Remain Stable or Slow Down
On November 30 ET, the Federal Reserve released its latest Beige Book, reporting as follows. Economic activity was about flat or up slightly since the previous report. High interest rates and inflation continued to weigh on activity. Many contacts expressed greater uncertainty or increased pessimism
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