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Thursday, 21 March 2024 19:28 WIB

Britain's economy is "moving in the right direction" for the Bank of England to start cutting interest rates, Governor Andrew Bailey said as two of his colleagues dropped their vote a rate hike. The BoE's interest rate-setters voted 8-1 to keep borrowing costs at their 16-year high of 5.25% on Thursday as the two officials who had previously called for higher rates changed their stance. Most economists polled by Reuters had expected one member of the Monetary Policy Committee to continue voting for an increase in Bank Rate. But both Jonathan Haskel and Catherine Mann joined the majority...

RECENT NEWS
European Central Bank raises rates by 25 basis points after Fed opts to pause
Thursday, 15 June 2023 19:21 WIB | ECB Fiskal & Moneter

The European Central Bank on Thursday announced a new rate increase of 25 basis points, taking its main rate to 3.5%. The central bank has raised rates since July 2022 in an attempt to bring down record-high inflation across the region. The latest inflation reading showed prices cooling down at a faster-than-expected pace, with headline inflation coming in at 6.1% in May and core inflation, which excludes volatile items, coming in at 5.3%. This remains well above the ECB's target of 2% headline inflation, however. An additional challenge for the ECB is the lackluster growth in the region....

Fed Pauses Rate Hikes But Signals More Tightening to Come
Thursday, 15 June 2023 01:10 WIB | Federal Reserve The Fed

Federal Reserve officials paused on Wednesday following 15 months of interest-rate hikes but signaled they would likely resume tightening to cool inflation, projecting more increases than economists and investors expected. "Holding the target range steady at this meeting allows the Committee to assess additional information and its implications for monetary policy," the Federal Open Market Committee said in a statement released in Washington Wednesday. Policymakers also adjusted the language in their post-meeting statement, referring to how they would determine "the...

Bailey Laments Slow Falling Inflation In 'Very Tight' Job Market
Tuesday, 13 June 2023 22:32 WIB | Fiskal & Moneter

The UK jobs market is "very tight" with so few available workers that employers are having to hoard labor, Bank of England Governor Andrew Bailey told the House of Lords. Addressing the Economic Affairs Committee shortly after official data shook markets as wages rose faster than expected and unemployment fell, the governor said there are signs that the supply of labor is recovering but "very slowly, frankly." "We still think inflation is going to come down but it's taking a lot longer than expected," he said. "Employers say they are finding it so hard to recruit labor in this...

Australia's Central Bank Hikes Rates by 25 Basis Points, Defies Expectations
Tuesday, 6 June 2023 11:47 WIB | RBA

The Reserve Bank of Australia on Tuesday again defied market expectations and raised its benchmark rate by 25 basis points to 4.1%. Economists polled by Reuters were widely expecting the central bank to hold its rates steady. The Australian dollar rose by 0.73% to 0.6667 against the U.S. dollar shortly after the decision as the central bank grapples with the latest inflation rate of 7% for March quarter. Australian stocks fell further, and the S&P/ASX 200 last traded 1.14% lower. Source : CNBC  

ECB's Lagarde Says Price Pressures Strong, Rate to Rise More
Monday, 5 June 2023 20:39 WIB | ECB

European Central Bank President Christine Lagarde said inflation pressures remain powerful and borrowing costs will be raised further to tackle them. With the full effects of the ECB's action to date still materializing, Lagarde reiterated that there's no clear evidence that underlying inflation has peaked. Food inflation remains elevated, she told European Union lawmakers in Brussels. "Price pressures remain strong," Lagarde said Monday. "Our future decisions will ensure that the policy rates will be brought to levels sufficiently restrictive to achieve a timely return...

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FISCAL
Powell Says Fed Prepared to Tighten Further If Appropriate
Thursday, 14 December 2023 02:51 WIB

Federal Reserve Chair Jerome Powell said the central bank is prepared to tighten policy further if appropriate. "We will make decisions about the extent of any additional policy and how...

MONETARY
RBA Holds Cash Rate at 4.1% as Seen by 33 of 34 Economists
Tuesday, 5 September 2023 11:36 WIB

In a statement after the September policy meeting on Tuesday, Reserve Bank of Australia Governor Philip Lowe said: "Some further tightening of monetary policy may be required to ensure that...