- Wednesday, 14 December 2016
- News
Fed raise interest rate to 0.75%
Federal Reserve officials raised interest rates for the first time this year and forecast a steeper path for borrowing costs in 2017, saying inflation expectations have increased “considerably” and suggesting the labor market is tightening. The Board of Governors of the Federal Reserve System voted unanimously to raise the interest rate paid on required and excess reserve balances to 0.75 percent, effective December 15, 2016.
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- Thursday, 08 December 2016
- News
ECB extended bond-buying with reduced pace
The European Central Bank extended its quantitative-easing program until the end of 2017, while reducing the monthly pace of purchases to 60 billion euros ($65 billion) from 80 billion euros starting in April. The Governing Council also said it will step up purchases again or prolong them if needed. Policy makers kept the main refinancing rate at zero, the deposit rate at minus 0.4 percent and the marginal rate at 0.25 percent, as predicted by in a Bloomberg survey of economists.
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- Thursday, 17 November 2016
- News
Yellen warns of delaying rate hike ‘too long’
In a prepared speech to the U.S. Congress Joint Economic Committee, Federal Reserve (Fed) Janet Yellen warned of the danger of waiting too long to tighten monetary policy. In her remarks, Yellen referenced the November 2 Fed meeting and stated that policymakers judged back then that an increase in rates could “become appropriate relatively soon if incoming data provide some further evidence of continued progress toward the Committee's objectives.” She further emphasized that the Committee must remain forward looking when setting monetary policy.
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- Thursday, 03 November 2016
- News
BoE no longer expects to cut interest rates again this year
The Bank of England said it’s no longer expecting to cut interest rates again this year and indicated that concern about accelerating inflation may even warrant tightening at some point. With the pound’s weakness pushing up inflation faster than anticipated, Governor Mark Carney and the Monetary Policy Committee said that had “adversely affected” how they balance the needs of the economy. Having lowered interest rates in August in response to the Brexit vote, the committee said its previous guidance on the likelihood of another cut had “expired.”
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