May 16, 2024
United States:
Fed’s Williams Sees No Current Reason to Change Stance of Policy
Federal Reserve Bank of New York President John Williams said the latest US inflation data confirm price pressures are gradually easing but he still needs more evidence to adjust interest rates.
“I don’t see any indicators now telling me, oh, that there’s a reason to change the stance of monetary policy now, and I don’t expect that,” Williams said in an interview with Reuters published Thursday. “I don’t expect to get that greater confidence that we need to see on the inflation progress towards a 2% goal in the very near term.”
United Kingdom:
BOE’s Greene Warns Labor Hoarding Could Delay Interest-Rate Cuts
Bank of England policymaker Megan Greene warned that interest-rate cuts may be delayed if British firms excessively hold onto workers after facing post-pandemic staff shortages.
In a speech on Thursday, Greene said that data before the Monetary Policy Committee next meets in June will be crucial in determining how long the “last mile” in the fight against inflation will be.
Asia:
China Recovery Likely Picked Up With Outlook Buoyed by Stimulus
China’s economy likely continued to show signs of improvement in April, buoying the outlook for recovery as policymakers ramped up support.
Data due Friday will offer a glimpse of whether the world’s second-biggest economy was able to sustain the recovery momentum in the first quarter as it seeks to achieve an ambitious full-year growth of around 5%.
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