-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Global Macro Weekly -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI: 'Last Mile' Could Still Be The Hardest - BIS' Carstens
Bank for International Settlements General Manager Agustin Carstens on Monday said recent central banks' "success we have had so far must not breed complacency," even as most major institutions have signaled policy rates have likely peaked.
"The job is not complete yet, and considerable risks remain," he said in prepared remarks, noting the end of exceptional tightening is in sight. "Policymakers must heed the signposts and remain steadfast in their commitment to completing the disinflation journey while reinvigorating efforts to ensure sustainable fiscal paths and lift productivity growth."
Carstens said there are various forces that could keep adding pressure on inflation – loose fiscal policy, the catch-up in real wages, waning disinflationary factors, and possibly a premature easing of financial conditions.
"My main concern is that inflation rates may not return to target levels as quickly and as firmly as most forecasters expect," he said. "As has been said many times, the last mile could still be the hardest." (See: MNI INTERVIEW: Fed Might Not Cut At All In '24-Ex-Fed Economist)
Central banks would also not be able to simply look through renewed supply shocks, said Carstens, calling it a relevant risk given the backdrop of geopolitical tensions, challenges posed by the green transition, and adverse demographic forces.
"In normal times, when inflation hovers around target, central banks would generally be able to see through the temporary increase in inflation triggered by adverse supply shocks," he said in a speech in Switzerland. "But these are not normal times. After a prolonged period of elevated inflation, letting inflation surge again – even if on the back of a temporary shock – would be a very risky strategy."
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.