SWEDEN CENTRAL BANK RIKSBANK
Deposit rates peak; to move downwards in medium term: SBI Chairman
The country's largest lender also said the RBI may start easing the interest rate cycle from the third quarter of the current financial year. Last week, the Reserve Bank of India (RBI) left its key interest rates unchanged for the eighth time in a row, keeping the focus on inflation amid robust economic growth.
US Fed's 'dot plot' could offer glimpse of rate-cut resolve
Since raising their benchmark federal funds rate more than five percentage points starting in March 2022, the Federal Open Market Committee (FOMC) has held borrowing costs at a two-decade high since July. A host of Fed leaders have suggested in recent weeks they see no rush to cut rates, with inflation more persistent and the outlook for growth staying solid.
Another vote surprise! Dissent grows in RBI that has more 'elbow room'
RBI Monetary Policy: The Reserve Bank of India maintained key lending rates unchanged for an eighth consecutive time with a larger split in votes. Governor Shaktikanta Das emphasised the need for price stability in the growing economy. The unexpected vote split indicates a potential shift towards a rate cut in future policies, though 'greater elbow room' for price stability may not demand an immediate cut. The RBI's stance aligns with market expectations, with a focus on balancing inflation and growth. Despite robust economic growth, inflation remains a concern.
ECB jumps ahead of Fed, cuts interest rate by 25 bps for first time since 2019
ECB raises inflation forecast for 2024, 2025. Analysts say the quarter-point cut on Thursday would likely not usher in a swift series of further cuts as the bank waits to make sure inflation is under control while easing credit to help the economy. While inflation at an annual rate of 2.6% in May is well down from the peak of 10.6% in October 2022, the decline has slowed in recent months and inflation even ticked up slighly from 2.4% in April.
ECB cuts rates, keeps next move under wraps
The European Central Bank cut interest rates for the first time in five years, lowering the deposit rate to 3.75%. The move came in response to inflation uncertainty following a slowdown. This move is seen as the start of an easing cycle, but future cuts may be delayed due to price and wage pressures. ECB remains data-dependent and may wait until September for further action. Fed's stance may impact ECB's decisions.
European Central Bank set to cut rates for the first time since 2019 even as inflation fight continues
All 82 economists polled by Reuters expected the ECB to trim its deposit rate to 3.75% on Thursday from a record 4.0%, in what would be its first cut since 2019. ECB policymakers have clearly telegraphed their intention to lower borrowing costs after seeing inflation in the 20 countries that share the euro fall from more than 10% in late 2022 to just above their 2% target in recent months.
Charting the global economy: Europe inflation picks up before ECB meeting
Inflation in Europe rose more than expected in May, with consumer prices up 2.6% from last year, surpassing April's 2.4%.
5 world market themes for the week ahead
Markets are hoping for evidence that will solidify a brightening global economic outlook, though rising trade tensions are casting a cloud, while G7 finance ministers gather in Italy.
Charting the global economy: BOE sends clearest sign yet of interest-rate cuts
Thirteen economies in developed countries were experiencing per-capita recessions by the end of last year, as reported by Bloomberg Economics.
BoE leaves key rate unchanged at 5.25%; moves closer to first rate cut since 2020
The BoE said on Thursday its Monetary Policy Committee voted 7-2 to keep rates at a 16-year high of 5.25% after Deputy Governor Dave Ramsden joined Swati Dhingra in voting for a cut to 5%. The MPC has now kept rates on hold at six meetings in a row but it hinted that a first cut since March 2020 at the onset of the COVID-19 pandemic could come as soon as its next meeting in June, a potential boost for Prime Minister Rishi Sunak.
Asian shares subdued as China trade eyed, yen steadies after recent falls
Later in the day, the Bank of England (BoE) will decide its interest rate policy, with all eyes on the prospects of a June rate cut following the overnight move by Sweden's Riksbank to cut rates, which underlined Europe's divergence from the U.S. Federal Reserve.
Charting the global economy: European growth exceeds projections
Euro zone and US show mixed economic signals. Euro zone exits recession with strong GDP growth, while US faces moderating labour demand. Global economy sees fluctuations in factory output and industrial growth amid inflation concerns.
Asian shares idle, dollar firm ahead of central bank bonanza
Central banks in the United States, Japan, UK, Sweden, Switzerland, Australia, Brazil and Mexico all meet and, while most are expected to hold steady, there is plenty of scope for surprises.
Higher-for- longer rate stance may end early 2024
That's the outlook foreseen by Bloomberg Economics, whose aggregate gauge of world interest rates is seen beginning a swift descent in the first quarter. In advanced economies, that shift will take only slightly longer to transpire before they too synchronize downwards.
Dollar steady as week of key central bank decisions kicks off
Resilient U.S. growth has fueled a rebound in the dollar in recent weeks though the rally will likely be tested by a gauntlet of data and Wednesday's Federal Reserve interest rate decision
Asian markets off to a slow start in central bank packed week
This week, global central banks will take centre stage, with five of those overseeing the 10 most heavily traded currencies - including the U.S. Federal Reserve - holding rate-setting meetings, plus a swathe of emerging market ones as well.
European shares set to end week higher after ECB's dovish hike
Sweden's H&M shed 4.6% on reporting flat sales in its most recent quarter, lagging expectations as the fashion group struggles to attract customers while the cost-of-living crisis drags on.
Charting the global economy: China's economic woes pile up, US consumer spending loses steam
China is seeing moderation in holiday tourism and industrial profits amid week consumer spending and housing slump.
Dollar gains on flight to safety; pound, Swedish crown, kiwi struggle
The impasse in Washington over debt ceiling negotiations has helped lift the dollar, even though it could lead to a default and push the country into recession, as investors reckon this could spell worse trouble for the global economy.Share markets around the world fell as well due to the uncertainty.
Load More