China has unexpectedly cut rates on policy loans for the first time since April 2020 in the face of lowered economic performance owing to critical power shortages, defaults in the property market, a crackdown on major companies, and repeated COVID-19 outbreaks. The interest rate on 700 billion yuan ($110.2 billion), one-year, medium-term, lending facility (MLF)…
China Cuts Key Interest Rates as Economic Growth Wanes
January 17, 2022
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Stocks Rise as Inflation Report Keeps Rate Hikes on Track
Wall Street capped a day of wobbly trading with modest gains for stocks Wednesday, as investors weighed the implications of the latest economic snapshot showing rising inflation. The S&P 500 rose 0.3 percent after veering between a loss of 0.1 percent and a gain of 0.8 percent over the course of the day. The Dow…
Banks Are Buying Bonds
Commentary Inflationists are cheering the rise in lending growth as it appears to be a sign of reflation and economic growth as we head into the new year. With the Fed rapidly tapering its balance sheet, a rise in lending growth is providing validation that inflation is here to stay and that perhaps the economy…
UK Central Bank Hikes Interest Rates to Fight Surging Inflation
The Bank of England (BoE) has become the first major central bank to hike interest rates in the pandemic era, with the move coming in response to surging inflation as officials made clear their chief focus is to tame runaway prices even as they expect the Omicron variant to weigh on the economic recovery. The…
Fed Speeds Up Tapering, Projecting Three Rate Hikes in 2022
The Federal Reserve announced that it will end its aggressive pandemic-era stimulus sooner than expected. The central bank will speed up its tapering of bond purchases, bringing the monthly drawdown to $30 billion versus $15 billion announced last month. This would conclude the tapering process in March, opening the door for earlier interest rate hikes. Fed officials expect…
Fed Speeds Up Tapering, Projecting 3 Rate Hikes in 2022
The Federal Reserve announced on Dec. 15 that it will end its aggressive pandemic-era stimulus sooner than expected as the inflation is becoming “more persistent.” The central bank will speed up its tapering of bond purchases, bringing the monthly drawdown to $30 billion versus $15 billion announced last month. This would conclude the tapering process…
Ahead of FOMC Meeting, Experts Debate If Federal Reserve Can Cure Inflation
News Analysis The Federal Reserve will complete its two-day December monetary policy meeting on Wednesday, and market analysts are describing it as the most important meeting of the year. According to the latest CNBC Fed Survey results, economists, strategists, and money managers anticipate the central bank will stop its asset acquisitions by March and begin…
High Inflation Will Force Fed to Roll Back Stimulus Faster, Goldman Sachs Predicts
November 25, 2021
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Goldman Sachs strategists predicted in a Nov. 25 note that hotter-than-expected inflation will push the Federal Reserve to accelerate the pace of phasing out its massive bond-buying program in a bid to ease price pressures. At their most recent policy meeting in early November, Fed officials said they would start dialing back the central bank’s monthly…
1970s Inflation Runs Amuck and Then Is Beaten
News Analysis In 1970 inflation wasn’t excessive but it was becoming a problem. It worried many Americans, including those facing re-election in 1972. The annual inflation rate in the United States was only 5.7 percent, according to the U.S. Bureau of Labor Statistics. And the prime interest rate had climbed to 8 percent, the Federal…
Bank of Israel Seen Holding Rates but Some Analysts Call for a Cut: Reuters Poll
JERUSALEM—The Bank of Israel is expected to leave short-term interest rates unchanged this week, its 13th such decision in a row, though some analysts believe it should cut rates to halt the shekel that stands at a 26-year high versus the dollar. All 16 economists polled by Reuters believe the central bank’s monetary policy committee…
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