Latest news with #policymakers
Reuters
11 hours ago
- Business
- Reuters
BOJ board agreed to keep rate hike path, some saw need for pause, May minutes show
TOKYO, June 20 (Reuters) - Bank of Japan policymakers agreed on the need to keep raising still-low interest rates, but some saw the need to pause for the time being due to uncertainty over U.S. trade policy, minutes of their April 30-May 1 policy meeting showed on Friday. Some in the nine-member board said the timing for Japan to see underlying inflation converge toward the BOJ's 2% target has been pushed back by around a year, the minutes showed.
Wall Street Journal
a day ago
- Business
- Wall Street Journal
Bank of England Mirrors Fed and Stands Pat
The Bank of England left its key interest rate unchanged Thursday, mirroring the Federal Reserve's decision a day earlier, as policymakers face a rise in oil prices that could push inflation further above their target. Updates to follow as news develops.
Argaam
a day ago
- Business
- Argaam
Powell: Raising inflation forecasts is due to tariffs
Federal Reserve Chairman Jerome Powell said that policymakers' inflation expectations, as expected in their report on June 18, were linked to tariffs. He said that the near-term inflation expectations have risen recently as a result of tariffs, while long-term inflation estimates remain consistent with the Fed's 2% target. The Fed is patient until gaining a deeper understanding of economic dynamics, he added, noting that it is well-positioned to wait before adjusting policies. Tariffs may cause a one-time price increase, but they could also create long-term inflationary pressures, their full impact has yet to be seen and is still developing. Furthermore, he indicated that the 'dot plot' should be interpreted with a grain of salt as the macroeconomic environment remains highly risky. 'No one holds these rate paths with a great deal of conviction, and everyone would agree that they're all going to be data dependent,' Powell stated. The labor market does not need a rate cut, as a very limited and persistent slowdown in employment is expected, the Fed Chairman said. However, there is nothing to worry about at this time, he said, pointing out that he is not considering continuing at the Fed.
Bloomberg
2 days ago
- Business
- Bloomberg
Fed's Powell Says Rate Path Unclear But Tariff Impact Is Coming
There's a lot of unknowns about the outlook for the economy and interest rates, but Federal Reserve Chair Jerome Powell signaled at least one thing seems certain: Higher prices are coming. Policymakers voted unanimously to hold interest rates steady for a fourth straight meeting Wednesday as they await clarity on whether tariffs will leave a one-time or more lasting mark on inflation. Powell said it's still unclear how much of the bill will fall on the shoulders of consumers, but he expects to learn more about tariffs this summer.
Bloomberg
2 days ago
- Business
- Bloomberg
The Fed Is Waiting Until the Whites of Recession's Eyes
This was one of the more challenging Federal Reserve decisions to anticipate. US macro data has deteriorated so much that, normally, you'd expect policymakers to cut interest rates. However, they've already said tariffs are keeping them on hold for a while, unless things really fall apart. Military conflict between Iran and Israel can only make that hold longer. Therefore, it was anyone's guess what the Fed's dot plot of interest rate projections would show. So I'm going to take a slightly different tack by mostly ignoring those forecasts and, instead, tell you what I'm seeing in the data, how I think the Fed will act and what that means for asset prices.
