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Search Results for US monetary policy

In the World 22nd June 2023

Fed focuses message on inflation control and banking sector stability, but without concrete proposals

Bankinter| In his appearance before Congress, Powell maintained the tone and vagueness of his message. Congress has focused most of its questions on banking regulation. Meanwhile, Powell focused his message on inflation control, but without specifying the future. Analysis team’s view: The Fed governor reinforced the stability of the banking sector. But, he did not specify the future of regulation. Powell expects to receive a proposal during the summer. However,…

World economy 15th June 2023

Fed takes a breather and pauses rate increases after 10 consecutive hikes

CoM | The US Federal Reserve (Fed) decided on Wednesday to pause interest rate hikes and keep them in a range of between 5 and 5.25%, after a historic round of ten consecutive rate hikes since March 2022. “Recent indicators suggest that economic activity has continued to grow at a moderate pace. Employment growth has been solid in recent months and the unemployment rate has remained low,” the agency said…

World economy 14th June 2023

Notwithstanding improvement in margins and wages for large companies, BoJ to wait until it completes its monetary review

Alicia García Herrero (Natixis) | The Bank of Japan (BoJ) has begun to highlight the rising inflation bias. At the Lower House, Governor Ueda testified on June 9th that corporate price-setting behavior has been shifting upward. Furthermore, as the spring wage negotiation resulted in the largest wage increase in 30 years, inflation could surprise on the upside.Price transfer of higher input costs has become broad based. For sure, small companies,…

Relevant News Item 1st June 2023

Eurozone M3 monetary aggregate grows by 1.9% in April, lowest reading since July 2014

According to data from the European Central Bank (ECB), the monetary aggregate M3 in the Eurozone grew by 1.9% year-on-year in April (+2.5% in March) to €16.03 trillion. The reading, which was the lowest since July 2014, was slightly below the 2.0% growth rate expected by FactSet consensus analysts. The ECB also published that bank lending to eurozone households rose by 2.5% year-on-year in April to €6.87 trillion, marking the…

In Spain, Spanish economy 12th May 2023

Inflation confirmed at 4.1% in April, core inflation falls to 6.6% (vs. 7.5% previously)

Bankinter: April CPI (final) confirms +4.1% year-on-year preliminary announcement from +3.3% in March. In month-on-month terms it remains at +0.6% m/m preliminary (from +0.4% previously). The groups most affecting the monthly rise are Footwear and Clothing, Accommodation and Leisure Services. While Housing declined due to lower gas and electricity prices. Core CPI also remains at a preliminary +6.6% year-on-year and from +7.5% year-on-year previously. Annual CPI rateGeneral and core rate….

World economy 17th April 2023

US recession? With March fiscal deficit at $378 billion, it’s complicated

Julio López (Attitude Gestión SGIIC) | Never has a recession been more unanimously expected. Interest rate hikes and lower government spending should have slowed economic growth, yet we don’t see it today. But the question is, has there really been such a reversal in monetary and fiscal policies? It is true that the FED has tried to reduce its balance sheet, but the small crisis in the American banking sector…

European economy, In Europe 29th March 2023

Eurozone M3 growth at slowest since 2014: +2.9% year-on-year, down from +3.5% previously, below expected +3%

BancaMarch : In the Eurozone, money supply continues to slow down. In February, M3 growth (the broadest monetary aggregate) moderated more than expected to +2.9% year-on-year, down from +3.5% previously and below the +3% expected. It should be noted that this is the slowest pace of money supply growth since 2014. If we analyse the evolution of loans, the slowdown deepened in loans to households (+3.2% vs. +3.6% previously), with…

World economy 9th March 2023

Market sees recession: 2/10 year US bond curve inverted by more than one percentage point for first time in 40 years

Ana Racionero (Intermoney) | A Fed rate hike to 6%, a level whose risks have long been hedged in the options market, is starting to look less and less far-fetched. Powell’s appearance before the Senate yesterday unleashed a tsunami that sent bonds on both sides of the Atlantic tumbling, causing traders to recalibrate rate levels. The swap market raised the interest rate for the Fed’s September meeting to 5.60% and,…

European economy, European politics, Interviews 28th January 2023

Veronika Grimm: “the high costs of fossil energies represent a stimulus to accelerate the transformation towards renewable energies”

Lidia Conde (Francfort) | Veronika Grimm (Rendsburg, Germany, 1971) sits on the German Federal Government’s Advisory Council of Economists, which analyses the country’s economic development on the basis of scientific criteria and publishes a report every autumn in which it expresses its analyses and forecasts. Following its opinion, the government in turn responds to the council’s recommendations. Now, Grimm predicts that the economy of the continent’s leading power will shrink…

European economy 23rd January 2023

Lagarde insists “staying the course” is her monetary policy mantra

Link Securities | European Central Bank (ECB) President Christine Lagarde said on Friday that “staying the course” is her mantra on monetary policy and urged central banks around the world to do the same to achieve output recovery. Lagarde described 2022 as “a strange, strange year” as the low growth figures seen in the world’s largest economies were “not usual”. However, she expressed hope that “cooperatives, consumers, and state policymakers…

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