Overseas Headlines – October 14, 2022

October 14, 2022


United States:

Fed Is Set to Target Even Higher Rates as Inflation Stays Stubborn

Federal Reserve officials are likely to once again raise their outlook for how high they’ll have to lift interest rates following the latest bout of bad inflation news.

Several Fed policymakers have said they want to see a decline in core inflation, a measure excluding volatile food and energy prices, before they slow the pace of rate increases.



Bank of England Says More People Are Hoarding Cash After Covid

The Bank of England said more people are hoarding cash as a way of protecting wealth after the pandemic.



China’s PBOC Governor, Finance Minister Vow Support for Economy

China will push banks to lend more to some sectors and also speed up the rollout of existing economic support policies, the country’s central bank governor and finance minister said.

People’s Bank of China Governor Yi Gang on Thursday reaffirmed a pledge to “step up the implementation of a prudent monetary policy and provide stronger help to the economy,” in a video speech at a meeting of the central bank governors of the Group of 20 countries. Yi also said the PBOC will press banks to increase loans related to infrastructure, manufacturing and property.




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