MNI BRIEF: Japan Govt Keeps Econ View, Cuts Exports

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1321 THURS VS 7.1358

MNI China Daily Summary: Wednesday, July 24

Broad-Based IFO Weakness Reinforces Narrative of Recovery Stall

CBR Data Watch

IFO disappoints

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Daly - No Urgency To Adjust Interest Rates

FED
Credit BulletsEM BulletHomepagemarkets-real-timeCommoditiesEmerging Market NewsMetals bulletCreditEnergy BulletsBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • Daly (’24 voter) told Axios after a commencement speech on Friday that it's not clear whether inflation is definitively receding and there is no "urgency" to adjust interest rates.
  • "I'm not confident inflation is yet coming down sustainably to 2%, but I don't see any evidence right now that we need to adjust upwards either,"
  • On rents: "I expect less improvement quickly in shelter inflation than you might traditionally see in a regular adjustment cycle [...] It doesn't mean it's not happening; it just means it isn't going to be rapid."
  • The comments are in keeping with her prior remarks from May 9, when she didn’t see evidence that the labor market was nearing a worrisome place and that inflation is going to be a bumpy ride, but also that there isn’t a need to push the economy down to ease inflation further.
140 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • Daly (’24 voter) told Axios after a commencement speech on Friday that it's not clear whether inflation is definitively receding and there is no "urgency" to adjust interest rates.
  • "I'm not confident inflation is yet coming down sustainably to 2%, but I don't see any evidence right now that we need to adjust upwards either,"
  • On rents: "I expect less improvement quickly in shelter inflation than you might traditionally see in a regular adjustment cycle [...] It doesn't mean it's not happening; it just means it isn't going to be rapid."
  • The comments are in keeping with her prior remarks from May 9, when she didn’t see evidence that the labor market was nearing a worrisome place and that inflation is going to be a bumpy ride, but also that there isn’t a need to push the economy down to ease inflation further.