Wednesday, February 5

Tag: WSJ-PRO-CB

China Cuts Benchmark Rate by Less Than Expected
21Aug By adminNo Comments
World

China Cuts Benchmark Rate by Less Than Expected

China’s benchmark lending rate was lowered by a smaller-than-expected margin on Monday, after the central bank cut its key policy rates last week to offer more support for the slowing economy. The one-year loan prime rate was lowered by 10 basis points to 3.45% while the five-year LPR was held at 4.2%, the People’s Bank of China said. The...
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ECB’s Inflation Headache Could Prompt Further Rate Lift
2Aug By adminNo Comments
World

ECB’s Inflation Headache Could Prompt Further Rate Lift

It is premature to rule out a rise in European Central Bank interest rates to 4%, economist Peter Vanden Houte at ING writes in a note. Eurozone core inflation remained at 5.5% in July, and with base effects warping year-on-year figures, the important dynamic is inflationary evolution from month to month, Vanden Houte writes. While headline inflation has declined pretty rapidly, it remains above the ECB’s target of 2%, and core inflation looks set to be kept high by services inflation, he adds. If the central bank’s focus is on month-to-month development, then it may as such still opt to prolong its cycle of rate increases,...
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Bank of Thailand Increases Policy Rate to Tame Inflation
2Aug By adminNo Comments
World

Bank of Thailand Increases Policy Rate to Tame Inflation

Thailand’s central bank raised its policy rate as it continued its efforts to tame inflation. The Bank of Thailand said Wednesday that its policy committee voted unanimously to increase its one-day repurchase rate by 25 basis points to 2.25%, effective immediately. All seven economists polled by The Wall Street Journal had projected the central...
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Australia’s Economy on Track for Soft Landing as Lowe Prepares Exit
1Aug By adminNo Comments
World

Australia’s Economy on Track for Soft Landing as Lowe Prepares Exit

SYDNEY—As Philip Lowe prepares to leave his job as the governor of the Reserve Bank of Australia next month, it is increasingly likely he will do so knowing that after a rapid tightening of the interest-rate screws, the economy is steering with greater certainty toward a soft landing. For the first time in more than a year, the RBA left interest rates on hold for a second straight month and indicated its growing confidence that the supply and demand imbalances that drove inflation to its highest level in over three decades...
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Australia Appoints Michele Bullock as Next RBA Governor
14Jul By adminNo Comments
World

Australia Appoints Michele Bullock as Next RBA Governor

SYDNEY—Australian Treasurer Jim Chalmers on Friday appointed Michele Bullock as the next governor of the Reserve Bank of Australia for a seven-year term. The decision elevates Bullock from her current role as Deputy Governor. “Ms. Bullock is the right person to lead the RBA into the future and ensure we have the world’s best and most effective...
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RBA Loses Old Hands at Critical Juncture for Economy
10Jul By adminNo Comments
World

RBA Loses Old Hands at Critical Juncture for Economy

SYDNEY—The departure of Luci Ellis as chief economist from the Reserve Bank of Australia is part of a recent exodus from the central bank that has stripped it of decades of experience and talent just as the economy approaches its most challenging moment in a generation. Ellis, who will take on the role of chief economist at Westpac in October, leaves after the exit of the equally talented former deputy governor, Guy Debelle, who left the RBA suddenly in early 2022 for a job in the green-energy sector. Other...
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Singapore’s Central Bank Posts Record Annual Net Loss
5Jul By adminNo Comments
World

Singapore’s Central Bank Posts Record Annual Net Loss

Singapore’s central bank posted a record annual loss due to the currency-translation effects of a stronger Singapore dollar and high interest expenses from mopping up excess liquidity in the banking system. Net loss widened to 30.8 billion Singapore dollars (US$22.82 billion) for the year ended March from S$7.4 billion in the previous fiscal year, the Monetary Authority of Singapore said in its annual report Wednesday. About...
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RBA Stands Pat on Rate to Assess Economic Outlook
4Jul By adminNo Comments
World

RBA Stands Pat on Rate to Assess Economic Outlook

SYDNEY—The Reserve Bank of Australia left official interest rate on hold Tuesday saying that the decision gives it time to further assess the mixed economic outlook. The official cash rate remained at 4.10%, with economists split ahead of the policy meeting on whether the RBA would tighten further or remain on the sidelines. “Interest rates...
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Ousting of Lowe Will Raise Questions About RBA Independence
23Jun By adminNo Comments
World

Ousting of Lowe Will Raise Questions About RBA Independence

SYDNEY—Reserve Bank of Australia Gov. Philip Lowe looks likely to be unceremoniously removed from his job next month amid a new and worrying era of political pressure being exerted on the setting of interest rates, and growing doubts about the cherished independence of the central bank in the future. Treasurer Jim Chalmers said this week he will appoint the next governor in July, with the announcement coming just ahead of a list of potential candidates for the RBA’s top job leaked to national newspapers. Those...
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RBA Deputy Governor Spells Out Why Higher Unemployment Is Needed
19Jun By adminNo Comments
World

RBA Deputy Governor Spells Out Why Higher Unemployment Is Needed

SYDNEY—Employment in Australia is currently above the levels that are consistent with inflation falling back to target, Reserve Bank of Australia Deputy Gov. Michele Bullock said Tuesday. In a speech to a business forum, Ms. Bullock laid out the case for why the unemployment rate will have to rise from its current 50-year lows if the inflation rate is to return to the target range of 2% to 3% over the coming years. “Employment...
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