Central Bank Watch
Bank of England Rate Cut
August 1, 2024
Although expected by many economists, the Bank of England’s 25-basis point Bank Rate decline to 5.0% embodied a surprisingly slim voting majority that included Governor Bailey. But four of the nine members of the monetary policy committee, including the chief economist Huw Pill, favored not yet reducing the cyclical high of 5.25% that had been […] More
New Overnight Developments Abroad - Daily Update
Continuing Post-FOMC Market Repercussions
August 1, 2024
Chairman Powell’s press conference yesterday gave as much encouragement as one could expect to speculation that the Federal Reserve will begin a cycle of interest rate reductions at its next meeting in September. One of his major themes was the return of labor market conditions to those just before the onset of the Covid pandemic, […] More
