Central Bank Watch
A Rate Pause Was Expected and Delivered Unanimously by the FOMC
June 14, 2023
The federal funds rate target will remain at 5.00-5.25%. This was the first FOMC meeting to end without a rate hike since the tightening cycle began in March 2022. Economic conditions haven’t changed since the previous FOMC rate announcement on May 3: modest GDP growth, robust job gains, a lower unemployment rate than would be […] More
Deeper Analysis
FOMC Preview
June 14, 2023
The Fed seems likely to pause the cycle of interest rate hikes, wherein the federal funds range target has climbed five percentage points (ie, 500 basis points) since mid-March 2022, with a rate hike announced at every scheduled policy review in that period but not at all on an emergency intra-meeting basis. The concurrent 5.4% […] More
Central Bank Watch
Interest Rate Hike in Namibia
June 14, 2023
The Bank of Namibia’s repo rate has been increased for the third time this year. Today’s 50-basis point advance was greater than 25-basis point moves in February and April, and all of these were preceded by six hikes last year totaling 300 basis points and administered between February and November. Namibian CPI inflation bounced off […] More
New Overnight Developments Abroad - Daily Update
U.S. PPI Report Just One of Many Price Releases Today… FOMC Meeting Will Be the Main Event
June 14, 2023
Even before the 08:30 release of U.S. producer prices, investors learned today that Wholesale price inflation in India had plunged more deeply below zero percent to -3.48%, a 78-month low. Wholesale prices in Germany during May also moved farther into deflationary territory of -2.6%, a 34-month low. Swedish consumer price inflation slowed in May to […] More
