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Fed's Kashkari Labels Latest Inflation Data Concerning

EMERGING MARKETS
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  • US: 'Concerning' CPI Pushes Back Cuts - Fed's Kashkari (MNI) - Minneapolis Fed President Neel Kashkari said Wednesday the "concerning" CPI inflation report means the central bank will likely have to wait longer before reducing interest rates. "My colleagues and I have all said we will cut interest rates once we get convinced that inflation is well on its way back into our 2% target," he told PBS Newshour.
  • JAPAN: Ex-BOJ's Maeda Sees Terminal Rate Above 1% - The Bank of Japan could eventually raise its overnight rate above 1%, about double the expectations of private economists, assuming it can stabilise inflation at around 2%, a former BOJ chief economist and executive director in charge of monetary policy told MNI.
  • CHINA: (MNI Beijing) - Chinese small lenders will likely continue to cut deposit rates under the pressure of narrowed interest margin as authorities push for the reduction of financing costs across the economy, according to Financial News, a paper under the People’s Bank of China. A large number of small- and medium-sized banks across the country have announced reductions in their fixed-term deposit rates since the beginning of April
  • Separately, the People’s Bank of China will continue to monitor the longer-dated Chinese government bond market, adding supply and control over leverage to help guide the yield closer to the present 2.5% one-year medium-term lending facility rate, an advisor and economists told MNI.
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  • US: 'Concerning' CPI Pushes Back Cuts - Fed's Kashkari (MNI) - Minneapolis Fed President Neel Kashkari said Wednesday the "concerning" CPI inflation report means the central bank will likely have to wait longer before reducing interest rates. "My colleagues and I have all said we will cut interest rates once we get convinced that inflation is well on its way back into our 2% target," he told PBS Newshour.
  • JAPAN: Ex-BOJ's Maeda Sees Terminal Rate Above 1% - The Bank of Japan could eventually raise its overnight rate above 1%, about double the expectations of private economists, assuming it can stabilise inflation at around 2%, a former BOJ chief economist and executive director in charge of monetary policy told MNI.
  • CHINA: (MNI Beijing) - Chinese small lenders will likely continue to cut deposit rates under the pressure of narrowed interest margin as authorities push for the reduction of financing costs across the economy, according to Financial News, a paper under the People’s Bank of China. A large number of small- and medium-sized banks across the country have announced reductions in their fixed-term deposit rates since the beginning of April
  • Separately, the People’s Bank of China will continue to monitor the longer-dated Chinese government bond market, adding supply and control over leverage to help guide the yield closer to the present 2.5% one-year medium-term lending facility rate, an advisor and economists told MNI.