November 26, 2024
United States:
It’s Reasonable to Consider Rate Cut Next Month, Fed’s Kashkari Says
Federal Reserve Bank of Minneapolis President Neel Kashkari said it is still appropriate to consider another interest-rate cut at the central bank’s December meeting.
“It’s still a reasonable consideration,” Kashkari said Monday on Bloomberg Television in response to a question about whether policymakers should reduce borrowing costs by a quarter point at their last meeting of the year. “Right now, knowing what I know today, still considering a 25-basis-point cut in December — it’s a reasonable debate for us to have.”
Europe:
ECB’s Guindos Says More Rate Cuts to Come If Forecasts Hold
European Central Bank Vice President Luis de Guindos said more reductions in interest rates are on the way if policymakers’ forecasts for inflation hold.
The trajectory of any future cuts “will depend on the evolution of inflation,” Guindos told Nordic newspaper Helsingin Sanomat. He said it’s difficult to make predictions about the specific number and size of moves.
Asia:
Japan’s Ishiba Renews Pressure on Companies to Ramp Up Pay
Japanese Prime Minister Shigeru Ishiba called on companies to continue ramping up pay for workers, as his government seeks to secure stable inflation and economic growth while also responding to the rising cost of living.
“I asked for cooperation in next year’s wage negotiations for a substantial wage increase, building on this year’s momentum,” Ishiba said after meeting with labor union and business leaders.
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