November 3, 2025
United States:
Fed’s Miran Repeats View Policy Remains Too Restrictive
Federal Reserve Governor Stephen Miran said monetary policy remains restrictive and that he will continue to advocate for outsize interest-rate cuts.
“The Fed is too restrictive, neutral is quite a ways below where current policy is,” Miran said Monday in an interview on Bloomberg Television. “Given my rather more sanguine outlook on inflation than some of the other members of the committee, I don’t see a reason for keeping policy as restrictive.”
Europe:
Bailey Holds Key to Bank of England Decision as MPC Expected to Hold
The Bank of England is expected to skip its three-month cutting cycle for the first time since it started easing rates in August last year, in a close decision that will rest with Governor Andrew Bailey.
Most economists believe the Monetary Policy Committee will keep interest rates unchanged at 4% next Thursday, with Bailey swinging the vote. “The next BOE decision will hinge on the governor,” TD Securities European economist Julie Ioffe said.
Asia:
China’s Factory Activity Growth Slowed, Private Survey Shows
China’s manufacturing activity expanded less than forecast in October, a private survey showed, adding to worrying signs about the economy’s momentum as the year winds down.
The RatingDog China General Manufacturing Purchasing Managers’ Index slipped to 50.6 from 51.2 in September, according to a statement released on Monday, staying just above the 50 mark that divides expansion from contraction.
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