January 23, 2024
United States:
Goldman’s Hatzius Sees US Soft Landing, Basis for March Fed Cut
The Federal Reserve is on track to achieve a soft landing in the US economy, Goldman Sachs Group Inc.’s Chief Economist Jan Hatzius said, adding that a March interest rate cut “would make sense.”
“The Fed is on its way to achieving the soft landing, obviously no guarantees, but I like what I’m seeing,” Hatzius told Bloomberg Television in an interview Tuesday in Hong Kong.
Europe:
ECB Says Banks See Euro-Zone Credit Demand Bottoming Out
Demand for credit in the euro zone may be bottoming out after falling for more than a year in the face of rising interest rates and a struggling economy, according to the European Central Bank.
The ECB’s quarterly Bank Lending Survey, published Tuesday, showed that the drop in appetite for business and consumer loans was smaller in the fourth quarter than in the previous three months.
Asia:
India Tops Hong Kong as World’s Fourth-Largest Stock Market
India’s stock market capitalization has overtaken Hong Kong’s for the first time as the South Asian nation’s growth prospects and policy reforms make it an investor darling while global capital pours out of China.
The combined value of shares listed on Indian exchanges reached $4.33 trillion as of Monday’s close, versus $4.29 trillion for Hong Kong, according to data compiled by Bloomberg. That makes India the fourth-biggest equity market globally. Its value crossed $4 trillion for the first time on Dec. 5, with about half of that coming in the past four years.
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