LONDON—The dollar rose on Tuesday as Federal Reserve Chair Jerome Powell put the possibility of 50 basis point rate hikes on the table, while the yen fell below the psychological 120 level as the Bank of Japan reiterated its support for ultra-loose monetary policy. The euro was also under pressure, sliding to an almost one-week…
Possibility of 50 Basis Point Fed Hike Pushes Yen and Euro Down
March 22, 2022
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Fed Should Lift Rates a Full Percentage Point by Mid-Year: Waller
February 26, 2022
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Federal Reserve Governor Christopher Waller on Thursday laid out the case for a “concerted” effort to rein in inflation, calling for raising interest rates a full percentage point by mid-year, starting with a half-percentage-point hike in March if data in coming weeks continues to point to an “exceedingly hot” economy. “I believe appropriate interest rate…
Fed’s Mester: Rates Should Rise Faster Than After Great Recession
The Federal Reserve will need to move more aggressively to remove accommodation than it did following the Great Recession by raising interest rates at a faster pace and shrinking its balance sheet more quickly, Cleveland Fed President Loretta Mester said on Thursday. “Barring a material change in the economy, I anticipate that it will be…
Japan Has No Plans to Review Sales Tax Rates, Finance Minister Says
TOKYO—Japan is not considering reviewing future national sales tax rates as the current 10 percent levy provides a vital source of funding the social security spending to support its aging population, the finance minister said on Friday. Shunichi Suzuki told reporters after a cabinet meeting that Japan must tackle spending and revenue reform to win…
The Fed Leaves Rates Unchanged, but Does That Create New Problems?
The Federal Reserve has opted to keep its feet on the economic brakes for now and kept the benchmark interest rate unchanged Wednesday. What Happened In its first decision of 2022, the policy making Federal Open Market Committee (FOMC) wrapped up its two-day meeting this afternoon by announcing it “decided to keep the target range…
Bank of England to Raise Rates Again in February as Inflation Surges: Reuters Poll
LONDON—The Bank of England will press ahead with its tightening cycle next month as red-hot inflation runs well ahead of target and the economic threat from the Omicron coronavirus variant should prove milder than previous mutations, a Reuters poll found. Britain’s central bank became last month the first major rate-setter to increase interest rates since…
Higher Interest Rates May Cause Japan’s Debt-Servicing to Top 30 Trillion Yen in FY2025: Draft
January 19, 2022
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TOKYO—Japan’s debt servicing costs would exceed 30 trillion yen ($261.55 billion) for the first time ever in fiscal 2025 if interest rates rise by 1 percent more than expected, a draft of the Ministry of Finance’s (MOF) estimates, due later this month, showed. The MOF, in its annual estimates over a five-year period, projected debt…
Bank of Korea Likely to Hike Rates Again Over High Inflation, Household Debt: Reuters Poll
BENGALURU—The Bank of Korea is likely to raise its policy rate back to where it was before the pandemic on Friday, a Reuters poll found, as it looks to restrain rising inflation and the increasing debt that households are taking on to buy property. Twenty-five of 35 economists who answered a Jan. 5–11 Reuters poll…
Global Stocks, Wall Street up After Powell Says Rates to Rise
BEIJING—Global stocks and Wall Street futures advanced Wednesday after Federal Reserve chairman Jerome Powell said U.S. monetary policy would return to normal and interest rates might be raised earlier than planned. London and Frankfurt opened higher. Shanghai, Tokyo, and Sydney advanced. Wall Street’s benchmark S&P 500 index rose 0.9 percent on Tuesday after Powell said…
ECB Could Raise Rates as Early as in About a Year, Holzmann Says
VIENNA—The European Central Bank could raise rates as soon as the end of next year, and calling an end to bond purchases would be a strong signal that the move is coming in the next two quarters, Governing Council member Robert Holzmann said on Wednesday. The ECB last week took another step in rolling back…
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