Central banking
Russia cuts key interest rate to 14%, says inflation could hit 23% this year
Russia’s President Vladimir Putin (L) and Russian Central Bank Governor Elvira Nabiullina Alexei Nikolsky\TASS via Getty Images However, with the ruble now returning to pre-war levels, policymakers are turning their attention to recalibrating the economy in an effort to absorb the impact of punitive sanctions from international powers. “The external environment for the Russian economy […]
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Euro zone inflation hits record high for the sixth month in a row
Inflation in the euro zone remains well-above the ECB’s target, as energy and food prices soar. Bloomberg | Bloomberg | Getty Images Inflation in the euro zone has hit a record high for the sixth consecutive month, sparking further questions over how the European Central Bank will react. Headline inflation in the 19-member region reached […]
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The Bank of Japan may have limited tools to deal with the weak yen, but that’s not its focus
The Bank of Japan may be limited in its ability to deal with recent weakness in the yen, but experts who spoke with CNBC noted the currency is not really the central bank’s main focus anyway. The Japanese yen went above 130 against the dollar on Thursday after the BOJ reiterated its ultra-easy monetary policy […]
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ECB dove says rate hike may come during the third quarter
European Central Bank Governing Council member Ignazio Visco has added his voice to heated discussions on when the ECB will begin to raise its benchmark interest rate. Rates in the euro zone have been negative following the region’s sovereign debt crisis, and the ECB has confirmed that it will conclude its net asset purchases in […]
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Senate confirms Lael Brainard as Fed vice chair
U.S. Federal Reserve board member Lael Brainard speaks after she was nominated by U.S. President Joe Biden to serve as vice chair of the Federal Reserve, in the Eisenhower Executive Office Building’s South Court Auditorium at the White House in Washington, U.S., November 22, 2021. Kevin Lamarque | Reuters The U.S. Senate on Tuesday confirmed […]
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Central banks need to put rates into the ‘pain zone’ — but the Fed won’t do it, fund manager says
LONDON — Overcoming doggedly high inflation requires interest rates to be pushed into the “pain zone.” But whether any central bank has the nerve to do it is the question, according to investment manager Man Group. “To actually fight inflation will require a central bank to show that they’re willing to put rates into the […]
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Fed’s Mester casts doubt on the need for ‘shock’ interest rate hikes ahead
Cleveland Federal Reserve President Loretta Mester said Friday she’s in favor of raising interest rates quickly to bring down inflation, but not so quickly as to disrupt the economic recovery. That means a strong likelihood of backing a 50 basis point rate hike at the next Fed meeting and perhaps a few more after, but […]
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5-year Treasury yield hits 3% following Powell’s comments on rate hikes
The 5-year U.S. Treasury yield topped 3% on Friday, after Federal Reserve Chairman Jerome Powell’s suggestion that a 50-basis-point rate hike could be in the cards in May. The yield on the 5-year Treasury note was last down 4 basis points at 2.937%. Earlier in the day it climbed as high as 3.05% and was […]
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Wharton’s Siegel says Fed should hike rates by 75 basis points: ‘Take your medicine all at once’
“We really need to slow down this super hot economy and get a handle on this inflation,” Jeremy Siegel told CNBC on Friday. “I think the market wants it.” Source
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Watch Fed Chairman Jerome Powell speak live at IMF debate
[The stream is slated to start at 1 p.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chairman Jerome Powell speaks Thursday on a panel presented by the International Monetary Fund. CNBC’s Sara Eisen will moderate the talk. The event is part of the IMF’s […]
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