February 21, 2023
United States:
Goldman Sees Fed Hiking by Further 75 Points on Stronger Growth
The Federal Reserve will raise interest rates by a quarter-percentage point at its March, May and June meetings in response to a stronger economic expansion, according to Jan Hatzius at Goldman Sachs Group Inc.
“The recent numbers have been even stronger than expected on the growth side plus we’ve seen some higher inflation numbers for January,” Hatzius, chief economist at Goldman, told Annabelle Droulers on “Bloomberg Daybreak: Asia” on Tuesday.
Europe:
Euro-Zone Business Activity Grows at Fastest Pace in Nine Months
Euro-area business activity rose at the fastest rate in nine months in February — raising the likelihood that the bloc can avoid a downturn this quarter.
The better-than-expected performance was driven by services, which saw the strongest growth since June in surveys of purchasing managers by S&P Global. Manufacturing output also improved as supply-chain bottlenecks eased further.
Asia:
Japan’s Key Yield Rises Above BOJ Cap on Bets of Policy Tweak
Japan’s benchmark yield briefly rose above the central bank’s ceiling for the first time since its January meeting as traders continued to bet on further policy tweaks.
The 10-year yield climbed to 0.505% before erasing its advance. Investors are readying to hear from Kazuo Ueda, the nominee for the Bank of Japan governorship, who is due to face confirmation hearings in parliament on Friday.
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