TRUDEAU SAYS `WE HAVE A LOT OF WORK TO DO'

MNI BRIEF: Canada NDP Will Bring Nonconfidence Motion In Jan.

CANADA NDP SAYS WILL INTRODUCE NONCONFIDENCE MOTION

MNI China Daily Summary: Friday, December 20

MNI: PBOC Net Drains CNY103.5 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1901 Fri; -2.13% Y/Y

EZ/UK T-Bill Calendar: Greece to Sell Bills Monday

EZ/UK Bond Supply Calendar: BOE APF Sales Due 6 January

MNI: BELGIUM DEC BNB BUSINESS CONFIDENCE -13.8

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

MNI Fed Review-Nov 2024: Sticking To The Plan

The FOMC gave away few new signals over the future rate path at the November meeting.
USCentral Bank ReviewGlobalFed - ReviewCentral Bank ReportsMarketsStoryRegionNorth America

EXECUTIVE SUMMARY: 

  • The FOMC gave away few new signals over the future rate path at the November meeting, with Chair Powell once again emphasizing data dependence in setting policy while shrugging off recent volatility in inflation and employment readings.
  • Overall the Fed seems to have maintained its general outlook on the economy and the path of rates since the September meeting. While the Fed's goal is to get rates into a neutral stance, "nothing in the economic data suggests that the committee needs to be in a hurry to get there."
  • Accordingly, rates markets were little changed, with terminal Fed funds rates seen at 3.72% (roughly 86bp of further cuts to come), roughly the same as pre-decision.
  • However, December cut pricing ticked up slightly, as Powell did little to suggest they were going to deviate from the plan set in September. While the Fed's goal is to get rates into a neutral stance, "nothing in the economic data suggests that the committee needs to be in a hurry to get there."

FOR THE FULL PUBLICATION PLEASE USE THE FOLLOWING LINK:

Keep reading...Show less
177 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.

EXECUTIVE SUMMARY: 

  • The FOMC gave away few new signals over the future rate path at the November meeting, with Chair Powell once again emphasizing data dependence in setting policy while shrugging off recent volatility in inflation and employment readings.
  • Overall the Fed seems to have maintained its general outlook on the economy and the path of rates since the September meeting. While the Fed's goal is to get rates into a neutral stance, "nothing in the economic data suggests that the committee needs to be in a hurry to get there."
  • Accordingly, rates markets were little changed, with terminal Fed funds rates seen at 3.72% (roughly 86bp of further cuts to come), roughly the same as pre-decision.
  • However, December cut pricing ticked up slightly, as Powell did little to suggest they were going to deviate from the plan set in September. While the Fed's goal is to get rates into a neutral stance, "nothing in the economic data suggests that the committee needs to be in a hurry to get there."

FOR THE FULL PUBLICATION PLEASE USE THE FOLLOWING LINK:

Keep reading...Show less