ZURICH—The European Central Bank could begin increasing interest rates before ending its bond purchasing programme, ECB policymaker Robert Holzmann said, challenging the bank’s long-held view on the sequence of its upcoming policy moves. With inflation hitting fresh record highs in recent months, the ECB recently walked back on a pledge not to raise rates this…
Three Fed Banks Voted to Increase Discount Rate in January
Directors at three regional Federal Reserve banks voted in January to increase the interest rate charged to commercial banks for emergency loans by a quarter of a percentage point, minutes of their discount rate meetings showed on Tuesday. The rate-hike recommendations—from directors of the Cleveland, St. Louis, and Kansas City Feds—were overruled two weeks later…
Japan Watching Impact of Rate Rises by the West on Its Economy
TOKYO—Japan will watch how rising interest rates in Western nations could affect its economy, the finance minister said on Tuesday, as higher bond yields would boost borrowing costs for the industrial world’s heaviest public debt burden. Shunichi Suzuki made the remark as the parliament’s powerful lower house is set to approve the fiscal 2022/23 budget…
US Fed Should Act Soon and Decisively to Raise Rates: World Bank’s Reinhart
WASHINGTON—The U.S. Federal Reserve should tighten monetary policy soon and decisively head off what could become “quite persistent” inflation, World Bank Chief Economist Carmen Reinhart told Reuters in an interview. Reinhart, who has been warning for some time that supply chain shocks could result in sustained inflation in the United States and elsewhere, said any…
ECB to Raise Deposit Rate to -0.25 Percent by Year-End: Poll
BENGALURU—The European Central Bank will raise its deposit rate in the second half of this year, and not wait until 2023 as previously expected, according to a Reuters poll of economists who also sharply upgraded their inflation forecasts for this year. The change in view followed a shift in the ECB Governing Council to concerns…
Fed’s Daly: Being Too Aggressive on Rate Hikes Could Be Destabilizing
Being too “abrupt and aggressive” with interest rate increases could be counter-productive to the Federal Reserve’s goals, San Francisco Federal Reserve Bank President Mary Daly said on Sunday, signaling she is not yet prepared to come out of the gate with a half-percentage-point interest rate hike next month. “So I look at the data, and…
Fed’s Barkin: ‘I’d Have to Be Convinced’ of Need for Half-Point Rate Hike
Richmond Federal Reserve Bank President Tom Barkin on Thursday said he would be “conceptually” open to raising interest rates by a bigger-than-usual half-of-a-percentage point increment, but does not see a need for it now. “Do I think there’s a screaming need to do it right now?” Barkin said at a virtual meeting at the Stanford…
Rate Hike Bets Lend Bid to the Dollar
SINGAPORE—The dollar rose in Asia on Friday after hotter-than-expected U.S. inflation and hawkish comments from a Federal Reserve official unleashed a wave of bets on aggressive rate hikes, though similar pressures worldwide kept a lid on gains. Thursday data showed U.S. consumer prices up 7.5 percent year-on-year in January, a fourth straight month above 6…
Global Stocks Higher Amid Interest Rate Uncertainty
BEIJING—Global stock markets were mostly higher Tuesday as investors watched for signs of whether central banks will try to cool inflation by speeding up the withdrawal of economic stimulus that is boosting share prices. London and Frankfurt opened higher. Shanghai and Tokyo advanced. Hong Kong declined. Wall Street futures were higher after the benchmark S&P…
Fed’s Barkin Says Rates Should Move to Pre-Pandemic Levels, Then Assess Next Steps
WASHINGTON—The U.S. Federal Reserve needs to begin raising interest rates but it is too soon to say how far or fast that process will need to go to bring inflation under control, Richmond Federal Reserve president Thomas Barkin said Thursday. He said it remained uncertain, given the ongoing pandemic and the tangled state of global…
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