December 13, 2024
United States:
Fed to Cut Once More Before Slowing Pace in 2025, Economists Say
Federal Reserve officials will lower interest rates this month for a third straight time and pare back the number of rate cuts they anticipate next year, according to economists surveyed by Bloomberg News.
Fed Chair Jerome Powell and his colleagues are expected to deliver another quarter-point rate cut at their Dec. 17-18 meeting, bringing the central bank’s key benchmark rate down to a range of 4.25% to 4.50%.
Europe:
ECB Officials See More Cuts, With Villeroy Backing Market View
European Central Bank policymakers said more interest-rate reductions are on the way, with France’s Francois Villeroy de Galhau saying investors’ bets on more than 100 basis points of easing look reasonable.
“There will be more rate cuts next year, more rate cuts plural,” he said on BFM Business television on Friday.
Asia:
Japan’s Business Sentiment Stays Upbeat in Line with BOJ View
Confidence among Japan’s large firms remained upbeat, broadly in line with the Bank of Japan’s view ahead of a policy meeting next week that’s dividing analyst opinions over whether a rate hike is coming.
An index of sentiment among the country’s biggest manufacturers edged up to 14 in December, according to the BOJ’s quarterly Tankan report Friday. Economists had expected the readings to hold at 13 for manufacturers and edge down to 33 for the service sector.
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