December 18, 2023
United States:
Fed’s Goolsbee Says Too Early to Declare Victory Over Inflation
Federal Reserve Bank of Chicago President Austan Goolsbee said it’s too early to declare victory in the central bank’s inflation fight, and decisions on interest-rate cuts will be based on incoming economic data.
“We’ve made a lot of progress in 2023, but I still caution everyone, it’s not done,” Goolsbee said Sunday in an interview on CBS’s Face the Nation. “And so the data is going to drive what’s going to happen to rates.”
Europe:
German Business Expectations Fall, Dampening Hope of Rebound
German business expectations worsened for the first time since August, undermining hopes that a recovery in Europe’s biggest economy will take hold early next year.
An expectations gauge by the Ifo institute fell to 84.3 in December from 85.1 the previous month. Analysts had expected a slight uptick. An index of current conditions also dropped.
Asia:
BOJ Likely to Keep World’s Last Negative Rate in Upcoming Decision
The Bank of Japan is widely expected to keep the world’s last negative interest rate intact on Tuesday, with investors set to scour comments for hints on if — and when — authorities might scrap the policy next year.
Almost all 52 economists surveyed by Bloomberg forecast no change in major policy settings for the short-term rate and yield curve control mechanism at the policy meeting that concludes on Dec. 19.
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