MNI China Daily Summary: Thursday, April 22

MNI BRIEF: China To Quicken Resolving Local Debt Risks

RPT-MNI INTERVIEW: ECB's Wunsch Sees At Least Two Cuts By Dec

MNI BRIEF: Brazil CenBank Faces Greater Uncertainty - Campos

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

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS MON

EZ/UK T-Bill Calendar: 3/6-Month ATB Auction on Tuesday

EZ/UK Bond Supply Calendar: EU, FI Synds; IT, DE Auctions Tues

MNI: CANADA MAR INDUSTRIAL PRICES +0.8% MOM; EX-ENERGY +0.8%

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

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MNI BRIEF: Fed's Mester Wants More Disinflation, Eyes 3 Cuts

(MNI) WASHINGTON
USCentral Bank NewsPolicy NewsHomepageFederal ReserveBriefStoryRegionNorth America

Cleveland Federal Reserve President Loretta Mester said Thursday there needs to be continued disinflation with prices moving sustainably back to 2%, but she added three 25 basis point cuts in the year "feels right" at the moment if the economy performs as expected.

"We need to be more confident that inflation is on that sustainable downward path back to 2%," she told Yahoo Finance in an interview after the Commerce Department released data showing PCE inflation rose 2.4% over the last year. "It doesn't really change my view, that inflation is going to be downward, going down to our 2% goal over time, but it does show you that there's a little more work for the Fed to do here." The Cleveland Fed president said she is expecting some moderation in demand and that growth this year will be slower than it was in 2023 at 2.5%. (See: MNI INTERVIEW: Fed To Stay Patient Given Bumpy Inflation-Groen)

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Cleveland Federal Reserve President Loretta Mester said Thursday there needs to be continued disinflation with prices moving sustainably back to 2%, but she added three 25 basis point cuts in the year "feels right" at the moment if the economy performs as expected.

"We need to be more confident that inflation is on that sustainable downward path back to 2%," she told Yahoo Finance in an interview after the Commerce Department released data showing PCE inflation rose 2.4% over the last year. "It doesn't really change my view, that inflation is going to be downward, going down to our 2% goal over time, but it does show you that there's a little more work for the Fed to do here." The Cleveland Fed president said she is expecting some moderation in demand and that growth this year will be slower than it was in 2023 at 2.5%. (See: MNI INTERVIEW: Fed To Stay Patient Given Bumpy Inflation-Groen)