January 30, 2025
United States:
US Economy Ends 2024 With 2.3% GDP Growth, Boosted by Consumer
The US economy expanded at a solid pace at the end of 2024, fueled by a generous tailwind from consumer spending that more than offset drags from a strike at Boeing Co. and much leaner inventory investment.
Inflation-adjusted gross domestic product increased an annualized 2.3% in the fourth quarter after rising 3.1% in the prior three-month period, according to the government’s initial estimate published Thursday.
Europe:
ECB Cuts Rates for Fifth Time as Euro-Zone Economy Flatlines
The European Central Bank lowered borrowing costs for a fifth time since June, with the region’s economy stalling and the 2% inflation target in reach.
Officials reduced the deposit rate by a quarter-point to 2.75% — as predicted by all analysts in a Bloomberg poll.
Asia:
BOJ Deputy Signals More Room to Hike Given Negative Real Rates
Japan’s real rates clearly remain in negative territory even with last week’s interest rate hike, and the Bank of Japan will keep raising rates if its economic outlook is realized, according to Deputy Governor Ryozo Himino.
“Given that real rates continue to be very much in the red, an easy monetary environment’s been maintained,” said Himino, in the first public speech from a board member following the BOJ’s latest rate hike.
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