January 11, 2024
United States:
US Inflation Accelerates, Tempering Case for Fed to Cut Rates
US inflation accelerated in December as Americans paid more for housing and driving, challenging investor bets that the Federal Reserve will cut interest rates soon.
The consumer price index increased 3.4% in the year through December, the most in three months according to government figures. On a monthly basis, it also rose by more than forecast.
United Kingdom:
UK Economy Looked Rosy Pre-Brexit, Show 2015 BOE Transcripts
Bank of England policymakers were growing more optimistic about the prospects for the UK economy in 2015, a year before voters upended the outlook with a decision to leave the European Union.
The central bank on Thursday released transcripts from meetings of the Monetary Policy Committee a year before the crucial Brexit referendum in 2016.
Asia:
Bank of Korea Pushes Back on Speculation Over Early Policy Pivot
Bank of Korea Governor Rhee Chang-young sought to preempt speculation over an early policy pivot by saying he expects to hold the key interest rate steady for a considerable period, after the bank’s board eased its hawkish tilt.
The South Korean central bank decided on Thursday to keep the seven-day repurchase rate at 3.5%, as forecast unanimously by 12 economists surveyed by Bloomberg.
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