January 31, 2024
United States:
Fed to Hold Interest Rates Steady But Start Considering Cuts
The Federal Reserve will likely hold interest rates steady for a fourth straight meeting but avoid signaling an imminent interest-rate cut.
The Federal Open Market Committee is poised to keep rates in a range of 5.25% to 5.5% at its two-day policy meeting ending Wednesday, a 22-year high first reached in July. The rate decision and accompanying statement will be released at 2 p.m. in Washington. Chair Jerome Powell will hold a press conference 30 minutes later.
Europe:
German Prices Ease More Than Expected, Feeding ECB Cut Hopes
German inflation slowed by more than expected at the start of 2024 — part of a broader retreat across the continent that will allow the European Central Bank to begin cutting interest rates in the coming months.
Consumer prices rose an annual 3.1% in January, the statistics office said Wednesday. That’s down from December’s 3.8% and below the 3.2% estimated by economists surveyed by Bloomberg.
Asia:
China Home Sales Slump Persists After Evergrande Liquidation
The sharp slowdown in China’s home sales dragged on in January, even as policymakers stepped up efforts to arrest the property slump.
The value of new home sales from the 100 biggest real estate companies slid 34.2% from a year earlier to 235 billion yuan ($33 billion), following a 34.6% decline in December, according to preliminary data from China Real Estate Information Corp. January’s sales were down 47.9% from the previous month, a record low in recent years.
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