April 14, 2023
United States:
Fed’s Waller Urges More Tightening With Inflation Far Too High
Federal Reserve Governor Christopher Waller said he favored more monetary policy tightening to reduce persistently high inflation, although he said he was prepared to adjust his stance if needed if credit tightens more than expected.
“Because financial conditions have not significantly tightened, the labor market continues to be strong and quite tight, and inflation is far above target, so monetary policy needs to be tightened further,”
Europe:
Europe Gas Heads for Weekly Decline With Start of Storage Refill
European natural gas headed for a second weekly decline as demand switched from heating needs to securing inventories for next winter.
Benchmark futures have slid about 45% since the start of the year amid ample supplies and reduced consumption, and fell as much as 2.9% on Friday.
Asia:
Singapore Is Latest to Halt Policy Tightening as GDP Shrinks
Singapore’s central bank kept its monetary policy settings unchanged after five straight tightening moves since October 2021, joining a growing list of central banks that have opted to pause amid global growth risks and ebbing inflation.
The Monetary Authority of Singapore, which uses the exchange rate as its main policy tool, maintained the slope, center and width of the currency band, according to a statement Friday. The decision came at the same time as gross domestic product data that showed the economy contracted more than expected in the first quarter.
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