MNI BRIEF: BCB's Campos Neto: 'Not Afraid To Do What's Needed'

MNI BRIEF: Pay More Attention To ECB Scenarios - Schnabel

MNI China Daily Summary: Wednesday, April 17

MNI BRIEF: China To Quicken Project Construction - NDRC

MNI: PBOC Conducts CNY2 Bln Via OMO Weds; Liquidity Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1025 Weds; -5.39% Y/Y

MNI: US TSY TICS NET FLOWS IN FEB +$51.6B

US Treasury Auction Calendar

US EIA: CRUDE OIL STOCKS EX SPR +2.74M TO 460.0M APR 12 WK

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Latest CPI Didn't Lower Collins' Est Of Sufficiently Restrictive Rates

FED
The relevant paragraph from Boston Fed Pres Collins' speech today is below - reinforcing recent commentary across the FOMC spectrum that the October CPI reading didn't hugely change the tightening outlook beyond December:
  • "By raising rates, we are aiming to slow the economy and bring labor demand into better balance with supply. The intent is not a significant downturn. But restoring price stability remains the current imperative and it is clear that there is more work to do. I expect this will require additional increases in the federal funds rate, followed by a period of holding rates at a sufficiently restrictive level for some time. The latest data have not reduced my sense of what sufficiently restrictive may mean, nor my resolve."
  • Collins is considered to be on the more dovish end though it's early days in her tenure at the Boston Fed. Her initial comments on Nov 11 after the October CPI release noted risks of overtightening having risen. However she said then that she saw a higher peak vs her September Dot Plot submission, but that it wasn't "helpful to give a specific number".
  • With little in the way of specifics here, there was minimal move in Fed pricing.
Energy BulletsCommodities
Energy BulletsCommodities

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.