November 11, 2024
United States:
Fed’s Kashkari Says Economy Strong, But Inflation Not Vanquished
Federal Reserve Bank of Minneapolis President Neel Kashkari said the US economy has remained remarkably strong as the central bank progressed in beating back inflation, but the Fed was still “not all the way home.”
“We need to finish the job,” Kashkari said Sunday on CBS’s Face the Nation. “We want to have confidence that inflation is going to go all the way back down to our 2% target.”
Europe:
ECB’s Holzmann Says December Rate Cut Possible, Kleine Reports
European Central Bank Governing Council member Robert Holzmann said a December interest-rate cut is a possibility but by no means guaranteed, according to an interview with Kleine Zeitung published on Sunday.
“As things currently stand, the possibility exists, there’s nothing at the moment that would speak against it, but that doesn’t mean that it will automatically happen,” the Austrian central bank chief was cited as saying by the newspaper.
Asia:
BOJ Hints at Caution on Rate Hike With No Clear December Hint
Bank of Japan board members discussed the need for caution on raising its benchmark rate and offered no clear hint of a move next month, a summary of opinions from its October policy meeting showed.
“It cannot be judged at this point that markets are stabilizing,” one of the nine board members said at the gathering, according to the summary released by the central bank Monday.
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