US Inflation Stalls in September
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- October 10, 2024
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US Inflation Stalls in September
- October 10, 2024
According to a report released by the Bureau of Labor Statistics (BLS) earlier today, US CPI inflation (Consumer Price Index) was higher than median expectations on all key measures in September. In fact, all prints, both MoM and YoY, matched the market’s maximum estimates according to Refinitiv data. This will also be the last inflation
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RBNZ Reinforces Dovish Stance and Delivers 50bp Cut
- October 9, 2024
Overnight, the Reserve Bank of New Zealand (RBNZ) reduced its Official Cash Rate (OCR) by 50 basis points (bps) and signalled further policy easing is on the table amid softening inflation. This leaves the current OCR at 4.75%. Cuts Ahead The accompanying Rate Statement communicated that the current economic landscape provides scope to reduce rates further.
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Week Ahead: What Are the Financial Markets Watching This Week
- October 6, 2024
The Week That Was: All About the Fed The week started with US Federal Reserve (Fed) Chair Jerome Powell taking centre stage on Monday and effectively pouring cold water on rate-cut bets. Powell indicated that the Fed would likely opt for the more standard 25 basis point (bp) rate cuts; ‘This is not a committee
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GBP/USD Sharply Lower Following Bailey’s Dovish Comments
- October 3, 2024
In an interview with the Guardian, Bank of England (BoE) Governor Andrew Bailey echoed a marked shift in tone today and underlined that the BoE could become more aggressive regarding policy easing if inflationary pressures continued to subside. This follows Bailey calling for a ‘gradual approach’ in September after the central bank held the Bank
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Week Ahead: Updates from the RBA and SNB Eyed; US PCE Data Also on the Radar
- September 21, 2024
The Week That Was: Fed Hammers Home a 50bp Cut At the centre of things last week was the US Federal Reserve (Fed) rate announcement. In an 11-1 vote, the Fed initiated its easing cycle, reducing the target on the funds rate by an outsized 50 basis points (bps). Bringing the overnight rate to 4.75-5.00%
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Easy Does It: Bank of England Leaves Bank Rate on Hold at 5.0%
- September 19, 2024
‘Easy does it’ was today’s primary message from the Bank of England (BoE). Unlike the US Federal Reserve cutting rates by an outsized 50 basis points (bps) yesterday, the BoE is clearly in no rush to ease policy, with most policymakers backing a slow and steady approach. In an 8-1 majority vote, the BoE left
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Fed Reduces Overnight Rate by 50 Basis Points
- September 18, 2024
With much market chatter heading into the event about whether the US Federal Reserve (Fed) would cut rates by 25 or 50 basis points (bps), the central bank, in an 11-1 vote, cut by an outsized 50bps and signalled further easing is on the table this year (Fed Governor Michelle Bowman dissented and voted for
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UK Inflation Holds North of BoE Target in August
- September 18, 2024
According to the latest Office for National Statistics (ONS) report, UK headline inflation remained unchanged in August and aligned with economists’ estimates, while core and services inflation increased, which likely sealed the deal for the Bank of England (BoE) holding rates unchanged tomorrow. Inflation Holds at +2.2% in August Headline UK CPI inflation (Consumer Price
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Canadian CPI Inflation Slows to 2.0% in August
- September 17, 2024
Inflationary pressures in Canada continued to subside in August, underpinning the possibility of more policy easing this year. According to a report released by Statistics Canada (StatCan) earlier today, headline CPI inflation (Consumer Price Index) cooled to +2.0% in August (YoY), down from +2.5% in July and south of economists’ expectations of +2.1%. This marks
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Week Ahead: Key Central Banks in Focus
- September 14, 2024
This week will be an interesting one for the financial markets. In addition to several tier-1 data, the focus will be on the US Federal Reserve (Fed), closely shadowed by the Bank of England (BoE) and the Bank of Japan (BoJ). Fed Rate Announcement (Wednesday 6:00 pm GMT) The Fed is gearing up to reduce
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ECB Cuts Rates; Growth Forecasts Revised Lower
- September 12, 2024
As widely expected, the European Central Bank (ECB) cut all three key benchmark rates at today’s meeting. The central bank lowered the deposit facility rate by 25 basis points to 3.50% from 3.75%; the main refinancing rate and marginal lending facility rates were also reduced by 60 basis points to 3.65% (from 4.25%) and 3.90%
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US CPI Inflation Cooled to +2.5% in August
- September 11, 2024
According to a report released by the Bureau of Labor Statistics (BLS) earlier today, headline US CPI inflation (Consumer Price Index) eased to +2.5% in August (YoY), testing levels not seen since February 2021. The latest inflation data sent US Treasury yields and the US Dollar Index northbound, with major US equity index futures trading
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