Australia's central bank slashed its near-term growth outlook and is relying on persistent jobs market strength to cushion a property-driven downturn in household spending. The economy is expected to expand 1.75% in the year through June versus 2.5% seen three months earlier, and is then forecast to lift to 2.75% for the rest of the forecast period, the Reserve Bank said in Sydney Friday. It made substantial cuts to the outlook for consumption and dwelling investment despite all forecasts being premised on two cuts in the cash rate. œGrowth in the Australian economy has slowed and...
Federal Reserve Chairman Jerome Powell on Tuesday said the economy has been sending "conflicting signals" that justify a "patient approach" on future changes to interest rates. œWhile we view current economic conditions as healthy and the economic outlook as favorable, over the past few months we have seen some crosscurrents and conflicting signals, Powell said in testimony prepared for delivery to the Senate Banking Committee. The Fed chairman did not give a ringing endorsement of the economic outlook, saying only that in January œmy colleagues and I generally expected the...
The BoE Governor Mark Carney, testifying before parliament's Treasury Committee this Tuesday, said that we aren't seeing any liquidity stress in the market but stand ready to provide liquidity in all major currencies. Adding to this, the BoE MPC member Gertjan Vlieghe said that the direction of rate moves after non-deal Brexit will be a trade-off between supporting the economy and stopping temporary inflation overshoot. After a no-deal Brexit, likely to keep policy on hold or ease, Vlieghe added further. Meanwhile, the GBP/USD pair continued scaling higher and might now eye a...
Bank of England Governor Mark Carney said on Monday that the possibility of Britain leaving the European Union next month without a transition deal ranked as the riskiest Brexit scenario for the stability of the financial services industry. œThe biggest issue from a financial stability perspective, from a market integrity perspective, from a continuity perspective, is a no-deal scenario by the end of March, Carney said at a news conference. Brexit is scheduled to take place on March 29 and lawmakers in London have yet to approve a deal that would smooth Britain's departure from the...
Minutes of the Federal Reserves January meeting showed officials debated whether increases in borrowing costs might be needed later this year, shedding additional light on the central banks pivot away from projecting gradual interest-rate hikes. œMany participants suggested that it was not yet clear what adjustments to the target range for the federal funds rate may be appropriate later this year, according to the record of the Federal Open Market Committees Jan. 29-30 gathering released Wednesday in Washington. While several said rate hikes might be necessary...
Federal Reserve Chairman Jerome Powell said the U.S. economy is œstrong though its benefits havent been felt evenly across the country. Speaking in Itta Bena, Mississippi, located in Leflore County where unemployment at 7.3 percent in December was almost double the national average, Powell said œwe know that prosperity has not been felt as much in some areas, including many rural places. The central bank can help by delivering on its goals for price stability and full employment, he said. It was the first visit by a Fed chairman to the nations...
Bank of England Governor Mark Carney said on Monday that the possibility of Britain leaving the European Union next month without a transition deal ranked as the riskiest Brexit scenario for the...
Bank of Japan meninggalkan kebijakan moneter tidak berubah bahkan ketika menurunkan penilaian inflasi, turun lebih jauh di belakang rekan globalnya pada akhir minggu yang sibuk bagi bank-bank...