TOKYO—Bank of Japan Governor Haruhiko Kuroda said on Thursday the central bank can execute a smooth exit from its ultra-loose monetary policy, though doing so “won’t be easy.” Kuroda repeated his view that the central bank must maintain ultra-easy monetary policy for now, with consumer inflation expected to slow next year and beyond, after speeding…
Fed Officials Suggest Faster Rate Hikes, Admit Inflation Is ‘Very High’: Fed Minutes
The Federal Reserve plans to move forward with multiple 50-basis-point interest rate hikes to fight inflation, minutes from the May Federal Open Market Committee (FOMC) policy meeting revealed Wednesday. According to the minutes, Committee members stated that the first-quarter economic construction offered “little signal about subsequent growth,” adding that they think real GDP would expand…
European Central Bank Likely to Exit Negative Rate Policy by End of September: Bank President
The European Central Bank (ECB) will probably begin raising interest rates in July and exit negative territory by the end of September, said ECB President Christine Lagarde in her May 23 blog post. She said the bank could raise rates further to a neutral level if it sees inflation stabilizing at 2 percent. “If we…
SoftBank Vision Fund Posts $26 Billion Loss; Son Pledges Defense
TOKYO—Japan’s SoftBank Group Corp. reported a record $26.2 billion loss at its Vision Fund investment arm on Thursday, as rising interest rates and political instability whiplashed high-growth tech stocks. The loss was in stark contrast to a year earlier when SoftBank delivered a record annual profit, putting founder and CEO Masayoshi Son’s strategy of concentrating…
Spiraling Home Costs and Mounting Interest Rates Could Slam the Door on First-Time Buyers
A recent survey from the Federal Reserve Bank of New York indicates U.S. households expect home prices to continue to rise at a faster rate over the next year and that the value of their homes will appreciate at a slower rate over the next five years. In addition, the survey shows that most Americans also…
US Household Debt Hits Fresh Record High of Nearly $16 Trillion, NY Fed Says
Total U.S. household debt surged to a fresh all-time high of nearly $16 trillion to kick off 2022, the latest Federal Reserve Bank of New York (FRBNY) data showed. According to the Quarterly Report on Household Debt and Credit, household borrowing surged by $266 billion, or 1.7 percent, in the first quarter to $15.84 trillion….
Federal Reserve Rejects Notion It’s Behind the Curve, ‘Confident’ Inflation Will Fall to 2 Percent Target
The Federal Reserve can deploy 50-basis-point interest rate hikes for the next two to three meetings, says Atlanta Fed Bank President Raphael Bostic. Bostic, who was one of the first central bank officials to retire the term “transitory” last year, told Bloomberg that the institution does not need to be more aggressive than it already…
Bank of England Hikes Rates to 13-Year High as Inflation Expected to Hit Double Digits
Britain’s central bank has raised its key interest rate to 1.00 percent, the highest level in 13 years, as policymakers scramble to curb soaring inflation that has risen faster than wages and eroded the purchasing power of many households. The Bank of England announced on Thursday that its rate-setting body, the Monetary Policy Committee (MPC),…
Federal Reserve Hikes Rates by 50 Basis Points, the Most Since 2000
The Federal Reserve raised interest rates by the most since 2000 on Wednesday as part of efforts to fight 40-year-high inflation. Officials serving on the Federal Open Market Committee (FOMC) agreed to hike the benchmark fed funds rate by 50 basis points, bringing it to a target range of 0.75 percent to 1 percent. Investors…
Federal Reserve Hikes Rates by Half Point, the Most Since 2000
The Federal Reserve raised interest rates by the most since 2000 on Wednesday as part of efforts to fight 40-year-high inflation. Officials serving on the Federal Open Market Committee (FOMC) agreed to hike the benchmark fed funds rate by 50 basis points, bringing it to a target range of 0.75 percent to 1 percent. The…
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