September 26, 2022
United States:
Fed’s Bostic Says US Could Have a ‘Relatively Orderly’ Slowdown
Federal Reserve Bank of Atlanta President Raphael Bostic said the strong US job market suggests the economy could slow down in “a relatively orderly way” as the central bank bears down on inflation by raising interest rates.
“It’s going to be hard — it’s not going to be easy,” Bostic said on CBS’s “Face the Nation” on Sunday when asked about the likelihood of a so-called soft landing for the US economy. “There will likely be some job losses.”
Europe:
ECB’s Newest Governor Warns of Danger From Inflation ‘Disease
The European Central Bank’s newest policy maker has plenty to say on the danger of consumer prices running out of control during a war.
Croatian National Bank Governor Boris Vujcic can remember only too well how his country suffered inflation of 1,500% during the 1990s as it fought for independence from the former Yugoslavia. He is adamant that euro-zone policy makers need to act aggressively.
Asia:
BOJ Buys More Bonds Than Planned as Yield Nears Ceiling
The Bank of Japan bought a larger-than-planned amount of bonds at its regular operation on Monday, as the benchmark yield climbed toward the upper end of the central bank’s tolerated trading range.
The BOJ purchased 550 billion yen ($3.8 billion) of five-to-10-year notes. This was a third time its purchases exceeded the original plan of 500 billion yen, and followed unscheduled buying of 150 billion of the same tenors last Wednesday. Purchase amounts for one-to-three and three-to-five year debt were left unchanged at 475 billion yen each.
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