November 13, 2024
United States:
US Core CPI Remains Firm for Third Straight Month With 0.3% Gain
A measure of underlying US inflation remained firm in October, underscoring the ongoing risks Federal Reserve officials face in trying to achieve their target.
The so-called core consumer price index — which excludes food and energy costs — increased 0.3% for a third month and 3.3% from a year ago, Bureau of Labor Statistics figures showed Wednesday.
United Kingdom:
BOE’s Mann Says Policymakers Can Afford to Wait on Rate Cuts
Bank of England rate-setter Catherine Mann said monetary policy is impacting inflation more quickly than economic theory suggests, allowing officials to wait before making big cuts to interest rates.
Speaking on a panel in London on Wednesday, Mann said that rate decisions can pass through to the pricing decisions of firms without delay, rather than the typical 18 to 24-month lag of monetary policy in textbooks.
Asia:
Double Whammy of Weak Yen, Rising Yields Piles Pressure on BOJ
The weakening yen and rising bond yields are ramping up pressure on Bank of Japan policymakers to increase interest rates.
The swap market is almost fully pricing in another rate increase by the end of the fiscal year in March, with strong odds for a hike by the BOJ’s January meeting.
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