December 20, 2024
United States:
Fed’s Favored Inflation Gauge Cools to Slowest Pace Since May
The Federal Reserve’s preferred measure of underlying inflation was muted in November, a step in the right direction for policymakers looking to cut interest rates further in 2025.
The so-called core personal consumption expenditures price index, which excludes food and energy items, increased 0.1% from October and 2.8% from a year earlier, according to Bureau of Economic Analysis data out Friday.
United Kingdom:
UK Bond Yields Head for 26-Year High with BOE Rate Path in Doubt
Long-term UK government borrowing costs are approaching the highest level since 1998 as investors struggle to work out how much the Bank of England will cut interest rates next year.
The yield on 30-year bonds climbed as high as 5.16% on Friday after rising for seven consecutive sessions, on course for the highest close in 26 years.
Asia:
Japan’s Inflation Accelerates on Energy as BOJ Seeks More Data
Japan’s key inflation gauge strengthened on the waning impact of government energy subsidies as the central bank continues to parse data before deciding on the timing of its next interest rate hike.
Consumer prices excluding fresh food rose 2.7% in November from a year earlier driven by higher energy costs, the Ministry of Internal Affairs reported Friday. That came in above a consensus estimate of 2.6% and was higher than October’s 2.3% increase.
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