March 20, 2024
United States:
Fed to Give Fresh Clues on Path of Interest-Rate Cuts
The Federal Reserve will likely avoid signaling an imminent rate cut this week, staying focused on stubborn inflation while keeping one eye on a slowly rising jobless rate.
The Federal Open Market Committee is poised to keep rates in a range of 5.25% to 5.5% at its two-day policy meeting, a two-decade high first reached in July. The rate decision and economic forecasts will be released at 2 p.m. in Washington. Chair Jerome Powell will hold a press conference 30 minutes later.
https://www.bloomberg.com/news/articles/2024-03-19/what-to-expect-from-fed-meeting-march-2024
Europe:
Lagarde Says ECB Can’t Commit to Cuts After Likely June Move
The European Central Bank can’t commit to further reductions in borrowing costs after a likely first move in June, according to President Christine Lagarde.
In a speech Wednesday, Lagarde reiterated that “when it comes to the data that is relevant for our policy decisions, we will know a bit more by April and a lot more by June.” Beyond that, the monetary-policy path is unclear.
Asia:
How Bank of Japan’s Ueda Dismantled World’s Last Negative Rate
When Kazuo Ueda emerged as the front runner to be the next governor of the Bank of Japan early last year, former Treasury Secretary Larry Summers described the septuagenarian academic as the Asian nation’s version of Ben Bernanke.
Both had studied at the Massachusetts Institute of Technology, Summers noted, and both shared a soft-spoken academic air but were “capable of being decisive.”
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