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In particular, lawmakers want assurances that the European Commission is not planning to shelve green measures that it promised but has not yet delivered - including restrictions on harmful chemicals, microplastics pollution and animal welfare. The shake-up in Europe's green leadership comes as climate policies face mounting pushback from politicians warning of the large investments required. Some EU officials are wary of pushing through new green measures before EU Parliament elections in June. Recent EU proposals - including a landmark law to restore nature - have faced resistance from some lawmakers and governments arguing Brussels is tangling industries in red tape. But Sefcovic and Hoekstra also need backing from green and left-leaning lawmakers demanding urgent action to tackle the CO2 emissions fuelling extreme weather across Europe, and reverse the decline of nature.
Persons: Wopke Hoekstra, de, Maros Sefcovic, Pascal Canfin, Sefcovic, Canfin, Hoekstra, Robert Fico, Kate Abnett, Bart Meijer, Christina Fincher, Josie Kao Organizations: Ministers, REUTERS, Rights, European Commission, EU, Thomson Locations: The Hague, Netherlands, Rights BRUSSELS, Dutch, Brussels, Europe, Slovak, Ukraine, Russian Slovak
WASHINGTON (AP) — The White House is preparing Friday to direct federal agencies to get ready for a shutdown after House Republicans left town for the weekend with no viable plan to keep the government funded and avert politically and economically costly disruption of federal services. “We got members working, and hopefully we’ll be able to move forward on Tuesday to pass these bills,” McCarthy, R-Calif., told reporters at the Capitol. McCarthy signaled his preference for avoiding a closure, but a hard-right flank of his House majority has effectively seized control. Trump has urged the House Republicans on, pushing them to hold the line against federal spending. The U.S. Travel Industry Association estimates that the travel sector could lose $140 million daily in a shutdown.
Persons: Kevin McCarthy, ” McCarthy, McCarthy, , , Joe Biden, ” Biden, Donald Trump —, Biden, , Trump, Matt Gaetz, ” Gaetz, Gaetz, legislating, Brian Gardner Organizations: WASHINGTON, House Republicans, Capitol, Biden, Management, OMB, Republicans, Republican, Trump, GOP, Defense, Homeland Security, Foreign Operations, Agricultural, Congressional, Military, Federal Emergency Management Agency, Women, U.S . Travel Industry Association Locations: U.S, Maryland, Washington
The one job AI should actually replace: CEOs
  + stars: | 2023-09-11 | by ( Ed Zitron | ) www.businessinsider.com   time to read: +12 min
The only job that seems to be safe from the rise of ChatGPT and other AI tech is, oddly enough, the most expensive and easily automated role: CEO. Let's replace our CEOs with AI. Actually, AI is too advanced for that job, all you need is a Fisher Price tape recorder loaded up with a bad bunch of ideas." What better way can we hold a chief executive accountable than making sure they actually execute? Or perhaps the chief executives need to be far more afraid of losing their jobs to equally capable robots.
Persons: Scott Seiss, Fisher, it's, I'm, Proctor, A.G, Lafley, isn't, doesn't, Elon, David Zaslav, Zaslav —, Zaslav, shelve, I'd, Said, Ed Zitron Organizations: Harvard, Gamble, TSR, Warner Bros, Hollywood, Alliance, Television Producers Locations: Let's, California
There's also SunnyD Vodka Seltzer, made by Harvest Hill Beverage Company and on shelves since March, as well as Hard Mountain Dew, which is made by PepsiCo and the Boston Beer Company. Harvest Hill, which makes SunnyD Vodka Seltzer, pointed to the words "Vodka" and "contains alcohol" on its packaging for the beverage. Drinks like Hard Mountain Dew and SunnyD Vodka Seltzer have drawn criticism from consumer advocacy groups and public health experts for years. Sugary and fruity alcoholic beverages, such as White Claw hard seltzer, began to gain popularity at the end of the last decade. Besides potentially causing confusion, the beverages' sweet tastes make it easy to down one — or several — compared to traditional alcoholic beverages like beer.
Persons: Molson Coors, There's, Seltzer, Lisa Gardner, Molson, seltzer, Pamela Trangenstein Organizations: Service, Coca, Coke, Harvest Hill Beverage Company, PepsiCo, Boston Beer Company, Wall Street, Regulators, Illinois Liquor Control Commission, Illinois Commission, ., Cola, Molson Coors, Boston Beer, Public Health Institute, New York Times Locations: Wall, Silicon, . Virginia, Harvest Hill
The attorney general, a Democrat, said the school district policy amounted to the “forced outing” of transgender students. It also might deter other school districts in California from imposing similar requirements. In recent weeks, the Anderson Union High School District in Northern California and the Murrieta Valley and Temecula Valley unified school districts in the Inland Empire have enacted policies similar to the one enacted by Chino Valley Unified. Orange Unified School District board members are also scheduled to consider a transgender notification policy on Thursday. Nearly a month into its school year, the Chino Valley Unified School District must shelve its notification policy and await further court proceedings.
Persons: Rob Bonta, Bonta, Judge Thomas S, Garza, Andrea Johnston, ” Mr Organizations: Unified School District, San Bernardino Superior Court, Chino Valley Unified, Anderson Union High School District, Orange Unified School District, Chino Valley Unified School District, Chino Valley Unified School Locations: Chino, San Bernardino, California, Northern California, Temecula, Inland, Chino Valley
For about as long as he’s been a published author, John Green has faced efforts to censor his books. His debut novel, “Looking for Alaska,” a coming-of-age story that includes references to drug use and sex, has been challenged in schools for at least 15 years, and has frequently landed on the American Library Association’s most banned books list. Last year, it received more than 50 challenges in schools across the country. But a recent dust-up over whether his books are appropriate for teens feels more personal, and like an escalation of a growing movement to ban and restrict access to books, Green said. A public library in his home state of Indiana implemented a new policy earlier this year requiring library staff to remove any books with sexually explicit content from the children’s and teens section and re-shelve them in the adult collection.
Persons: John Green, Green, Judy Blume, Laurie Halse Anderson, Organizations: American, Hamilton East Public Library Locations: Alaska, , Indiana, Indianapolis
The logo of the Adani Group is seen on the facade of its Corporate House on the outskirts of Ahmedabad, India, January 27, 2023. Citing review of files from multiple tax havens and internal Adani Group emails, nonprofit media organization OCCRP said its investigation found at least two cases where the investors bought and sold Adani stock through such offshore structures. Adani Group has called Hindenburg's claims misleading and without evidence and said it always complied with laws. The panel in May said the regulator had so far "drawn a blank" in investigations into suspected violations in overseas investments in the Adani group. In an interview with a reporter from the Guardian, OCCRP said Chang said he knew nothing about any secret purchases of Adani stock.
Persons: Amit Dave, OCCRP, Adani, Hindenburg, HINDENBURG, Gautam, India's, Nasser Ali Shaban Ahli, Chang Chung, Chang, Aditya Kalra, Krishn Kaushik, Lisa Shumaker Organizations: Adani, REUTERS, Adani Enterprises, NEW, Hindenburg Research, Reuters, Guardian, Thomson Locations: Ahmedabad, India, NEW DELHI, Mauritius, Ahli
The logo of the Adani Group is seen on the facade of its Corporate House on the outskirts of Ahmedabad, India, January 27, 2023. Citing review of files from multiple tax havens and internal Adani Group emails, nonprofit media organization OCCRP said its investigation found at least two cases where the investors bought and sold Adani stock through such offshore structures. Adani Group has called Hindenburg's claims misleading and without evidence and said it always complied with laws. Adani Group did not immediately respond to a Reuters request for comment on the OCCRP report. In an interview with a reporter from the Guardian, OCCRP said Chang said he knew nothing about any secret purchases of Adani stock.
Persons: Amit Dave, OCCRP, Adani, Hindenburg, Gautam, India's, Nasser Ali Shaban Ahli, Chang Chung, Ling, Chang, Aditya Kalra, Krishn Kaushik, Lisa Shumaker Organizations: Adani, REUTERS, DELHI, Hindenburg Research, Reuters, HINDENBURG, Securities, Exchange Board of India, Guardian, Thomson Locations: Ahmedabad, India, Mauritius, Ahli
What happened to shut down Toyota's production in Japan?
  + stars: | 2023-08-30 | by ( ) www.reuters.com   time to read: +4 min
WHAT HAPPENED TO SHUT DOWN TOYOTA'S PRODUCTION IN JAPAN? Toyota's production has been recovering this year, so the outage could be potentially more costly than the 2022 shutdown. Toyota's production in Japan - about a third of its global output - averaged about 13,500 vehicles a day in the first half of the year, Reuters calculations showed. WHAT IS TOYOTA'S PRODUCTION AND SUPPLIER MANAGEMENT SYSTEM? Toyota's system of lean production and just-in-time parts delivery has been adopted across the auto industry and widely studied.
Persons: Taichi Ono, Wiggly, Koji Sato, Akio Toyoda, Tesla, Daniel Leussink, Satoshi Sugiyama, Kevin Krolicki, Christopher Cushing Organizations: Toyota, Kyodo, REUTERS Acquire, Kojima Industries, Lexus, Daihatsu, Hino, TOYOTA, ITS, Thomson Locations: Toyota, Aichi Prefecture, Japan, JAPAN, United States
India is warming up to a cooling China
  + stars: | 2023-08-28 | by ( Shritama Bose | ) www.reuters.com   time to read: +4 min
A screening policy that dramatically slowed investments into India looks ripe for some fine-tuning. India appears to be warming up to a larger Chinese presence in its businesses three years since it introduced an approval regime for investments from countries sharing a land border. Modi has made a deepening financial relationship with China dependent on a warming political one. India is “open” to investments from China, the former’s Minister of State for Electronics and Information Technology Rajeev Chandrasekhar told Financial Times in an interview published in July. Shein is set to re-enter India through a partnership with Reliance Retail, The Wall Street Journal reported in May.
Persons: Narendra Modi’s, Xi Jinping, hamstrung, Sajjan, Modi, Narendra Modi, BYD, Technology Rajeev Chandrasekhar, Sajjan Jindal, Una Galani, Thomas Shum Organizations: Reuters, Indian, pharma, Reuters Graphics Reuters, Authorities, Apple, Reliance Industries, Wall Street, SAIC, Motor India, Economic Times, State, Electronics, Technology, Times, India’s, MG Motor India, Reliance Retail, Street, Bloomberg, Thomson Locations: MUMBAI, South Africa, India, New Delhi, China, Johannesburg, Shanghai
Tech firm Klaviyo reveals revenue rise ahead of US IPO
  + stars: | 2023-08-25 | by ( ) www.reuters.com   time to read: +2 min
Aug 25 (Reuters) - Klaviyo's revenue rose 51% for the recent quarter, the data and marketing automation company disclosed in its paperwork for a U.S. initial public offering (IPO) submitted on Friday. Other marquee names testing the IPO market include SoftBank Group-backed chip designer Arm and grocery delivery app Instacart. Successful stock market flotations from these companies could underscore the return of investor appetite for high-growth technology firms and could buoy the IPO market, encouraging other startups to move ahead with their offerings. The company reported revenue of $164.6 million for the quarter ended June 30, compared with $109 million a year earlier. Goldman Sachs, Morgan Stanley and Citigroup are acting as lead underwriters of the offering, the company said in its filing.
Persons: IPOs, Klaviyo, Goldman Sachs, Morgan Stanley, Manya Saini, Niket, Shilpi Majumdar, Krishna Chandra Organizations: U.S, SoftBank, Reuters, New York Stock Exchange, Summit Partners, Citigroup, Thomson Locations: United States, Bengaluru
By accepting an International Atomic Energy Agency (IAEA) report last month that greenlit Japan's Fukushima water release, Yoon could encourage fresh dissent that China will try to amplify, analysts say. On Monday, Park Gu-yeon, vice minister of government policy coordination at the prime minister's office, said both sides have made "substantial progress" on the water release issue. A senior South Korean official, speaking on condition of anonymity because of diplomatic sensitivity, said the government did not see it as a source of friction. "China absolutely will try to exploit Fukushima to drive a wedge between South Korea and Japan," said David Boling, a director at consulting firm Eurasia Group. In July, Chinese foreign ministry spokesman Wang Wenbin said Japan had shown selfishness and arrogance, and had not fully consulted the international community about the water release.
Persons: Rafael Mariano Grossi, Kobayakawa, Joe Biden, Yoon Suk Yeol, Fumio Kishida, Biden, David, Yoon, Japan Rahm Emanuel, Moon Jae, Christopher Johnstone, Antony Blinken, they've, David Boling, Joshua Kurlantzick, Wang Wenbin, Hirokazu Matsuno, Tim Kelly, Sakura Murakami, Hyonhee Shin, Josh Smith, David Brunnstrom, Trevor Hunnicutt, Ekaterina Golubkova, Lun Tian, Yoshifumi, Gerry Doyle Organizations: International Atomic Energy Agency, Tokyo Electric Power Co, Japanese, Reuters, U.S, IAEA, Biden's National Security Council, Center for Strategic, International Studies, Japan, South Korean, South, Gallup, Eurasia Group, Council, Foreign Relations, Global Times, Thomson Locations: Futaba, Japan, TOKYO, SEOUL, South Korea, Tokyo, China, Washington, East Asia, Taiwan, Beijing, Russia, North Korea, United States, Australia, Britain, Seoul, Seoul . U.S, Fukushima, Korean
Relations between the countries have deteriorated since mid-2020, when Chinese and Indian troops clashed on their disputed Himalayan frontier and 24 people were killed. Several Indian government officials, who asked not to be named, said the licensing measure aimed to address a trade imbalance with China. Here are some other Chinese trade and investment ventures affected by Indian measures since 2020:INVESTMENT PLAN BY BYDChina's BYD (002594.SZ) told its India joint-venture partner last month it would shelve plans for a new $1-billion investment to build electric cars after its investment proposal faced scrutiny from New Delhi. It has led to billions of dollars in proposed investment getting stuck in the approval process over the last 3 years. Reporting by Aftab Ahmed Editing by William Mallard and Helen PopperOur Standards: The Thomson Reuters Trust Principles.
Persons: Nick Carey, Xiaomi, China's Tencent, Aftab Ahmed, William Mallard, Helen Popper Our Organizations: REUTERS, Wall, Krafton Inc, South, HK, Thomson Locations: Farnborough, Britain, India, China, New Delhi, HK, South Korean
But Chinese suppliers could be critical if Tesla were to establish a plant in India and keep costs in check for a cheap EV. Instead, the Indian officials said they had suggested a workaround in which Tesla would emulate the approach of Apple (AAPL.O). The U.S. smartphone giant in recent months has obtained approvals to bring Chinese suppliers to India after they found local joint-venture partners. New Delhi in recent months has been approving some Chinese suppliers' JV partnerships with Indian companies on a case-to-case basis, one of the government sources said. One of the Indian officials said pairing local and Chinese players could work for Tesla.
Persons: Dado Ruvic, Tesla, Elon Musk, Apple, China's BYD, Nikunj Ohri, Acharya, Nikunj, Aditi Shah, Aditya Kalra, Jason Neely Organizations: Elon, REUTERS, DELHI, Apple, Tesla, Tata Motors, U.S ., Thomson Locations: India, China, New Delhi, U.S, . New Delhi
BYD executives told Megha Engineering last week that the battery and EV maker wanted to drop pursuit of the investment, according to the two people with knowledge of that exchange. BYD, China's largest EV maker, declined to comment on the status of its investment proposal and whether it would pull the plan to produce electric cars in India. Megha Engineering did not respond to request to comment. A final decision on whether to approve BYD's investment proposal would be taken by Indian ministries of trade and heavy industries. In 2013 it started building electric buses in India with Megha Engineering, under a joint venture company called Olectra Greentech (OLEC.NS).
Persons: BYD, Megha, Aditi Shah, Zoey Zhang, Kevin Krolicki, Simon Cameron, Moore Organizations: Reuters, Megha Engineering, Engineering, automaker Tata Motors, Thomson Locations: DELHI, India, New Delhi, Hyderabad, China, Shanghai
House Democrats are punting an effort to force a vote on censuring Rep. George Santos. It could now be weeks before that happens — lawmakers won't return after this week until September 12. The Democratic trio — which also includes Rep. Robert Garcia of California and Rep. Dan Goldman of New York — had pitched their effort as a backstop against an ongoing House Ethics Committee inquiry into Santos' misdeeds. If the censure effort eventually succeeds, Santos would become the 26th member of Congress in American history to be formally censured by the House. Those other censure efforts include:But unlike those efforts, the Santos censure effort enjoys bipartisan support, and would likely pass when it's eventually brought to the floor.
Persons: George Santos, That's, , Ritchie Torres, Torres, Robert Garcia of, Dan Goldman, New York —, Santos, Garcia, New York Republicans —, Nick LaLota, Axios, Kevin McCarthy, Adam Schiff of, it's Organizations: censuring Rep, Service, Republicans, Democratic, New York Republican, New, Robert Garcia of California, New York Republicans, Democrats, Democratic Rep, Adam Schiff of California, Trump Locations: Wall, Silicon, New York, Washington, masse, Santos, Russia
Melissa Petro is a freelance writer, writing instructor, and author in New York City. Days after my story was publicized, my writer friends and other industry folks begrudgingly congratulated me on my presumably imminent book deal. It took about two years to write the book proposal, and I wrote the book in about nine months. She was a Facebook friend of mine whom I saw left her job as a book editor to become a literary agent, so I reached out to her. After working with her to craft my book proposal that ultimately sold, it was a different book — a better one.
Persons: Melissa Petro, I'd, NYC Department of Education —, that's, begrudgingly, who'd, you'll, I've, bylines, it's, she'd, They'll Organizations: Service, Big, Fine Arts, New York Post, NYC Department of Education, Putnam Books, Penguin Random, PEN Locations: New York City, Wall, Silicon
Speaking at the Adani Enterprises' annual general meeting, Adani said the Hindenburg short-seller report was a "deliberate and malicious attempt aimed at damaging our reputation and generating profits through a short-term drive-down of our stock prices." "While the Securities and Exchange Board of India is still to submit its report, we remain confident of our governance and disclosure standards," billionaire Adani said. The short-seller report had also forced Adani Enterprises to shelve its key $2.5 billion share sale in February. Adani Enterprises shares climbed over 4% on Tuesday, while Adani Transmission (ADAI.NS) and Adani Green Energy (ADNA.NS) rose 4.7% and 5.7%, respectively. He also added that Adani Ports (APSE.NS), in the next 12-24 months, will commission India's largest transshipment hub.
Persons: Gautam Adani, Adani, Chris Thomas, Nallur, Savio D'Souza, Nivedita Organizations: U.S, Adani Enterprises, Securities and Exchange Board, Green Energy, Thomson Locations: BENGALURU, India, Bengaluru
The KraneShares CSI China Internet ETF is up 5.4% since Friday, while back home the CSI Overseas China Internet Index (.CSIH11136) is up nearly 3%. Yet China tech valuations have been gutted in the nearly 3 years since Ant was forced to shelve its initial share offering, and fund managers see plenty of headwinds, apart from just policy scrutiny. "The government has learned that the private sector - particularly the tech sector - is a critical partner in jump-starting growth. The government will continue to exert pressure on key tech companies even as they allow growth to resume," he said. For some sell-side analysts, though, China tech has turned a corner.
Persons: Jack Ma, Jon Withaar, Ant, Wong Kok Hoi, Wong, Kai Kong Chay, Derrick Irwin, Xi Jinping's, Alibaba's ADRs, Morgan Stanley, Min Lan Tan, Vidya Ranganathan, Kim Coghill Organizations: Group, Alibaba, HK, Pictet Asset Management, CSI China, CSI Overseas, CSI Overseas China Internet, Amazon Inc, APS Asset Management, Greater, Manulife Investment Management, UBS Global Wealth Management, Thomson Locations: HONG KONG, China, Asia, Hong Kong, Alibaba, CSI Overseas China, Singapore, Greater China, Boston
The KraneShares CSI China Internet ETF is up 5.4% since Friday, while back home the CSI Overseas China Internet Index (.CSIH11136) is up nearly 3%. Yet China tech valuations have been gutted in the nearly 3 years since Ant was forced to shelve its initial share offering, and fund managers see plenty of headwinds, apart from just policy scrutiny. "The government has learned that the private sector - particularly the tech sector - is a critical partner in jump-starting growth. The government will continue to exert pressure on key tech companies even as they allow growth to resume," he said. For some sell-side analysts, though, China tech has turned a corner.
Persons: Jack Ma, Jon Withaar, Ant, Wong Kok Hoi, Wong, Kai Kong Chay, Derrick Irwin, Xi Jinping's, Alibaba's ADRs, Morgan Stanley, Min Lan Tan, Vidya Ranganathan, Kim Coghill Organizations: Group, Alibaba, HK, Pictet Asset Management, CSI China, CSI Overseas, CSI Overseas China Internet, Amazon Inc, APS Asset Management, Greater, Manulife Investment Management, UBS Global Wealth Management, Thomson Locations: HONG KONG, China, Asia, Hong Kong, Alibaba, CSI Overseas China, Singapore, Greater China, Boston
Wall Street hasn't been so divided for two decades, according to Bloomberg. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Similarly, the Federal Reserve's own forecasters say it's a 50-50 call whether the US will manage to escape a severe economic slump. And you can add Wall Street to the list of places where there's limited agreement on if there'll be a recession before the end of this year. The range of views on Wall Street is so wide that when it comes to stocks, analysts haven't been so divided for 20 years, according to Bloomberg.
Persons: Joe Biden, Janet Yellen, there'll, Goldman Sachs, there's, Morgan Stanley's, Mike Wilson, haven't Organizations: Bloomberg, Service, Federal, Bank of America, JPMorgan Locations: Wall, Silicon
[1/2] A view of the city skyline, ahead of the annual National People's Congress (NPC), in Shanghai, China February 24, 2022. A global fund manager survey by BofA Securities showed shorting Chinese stocks was the second-most "crowded" trade in June, after going long on big tech. "I can't believe that there is anymore bad news to absorb," said Andy Maynard, head of equities at China Renaissance. Restoring confidence is looking increasingly like a long-term project and investors are positioning for a longer game and a slower rebound. "We are all looking for something a bit more decisive in helping to restore animal spirits, investor confidence and market confidence, and I think that hope may be still at risk of being disappointed."
Persons: Aly, Morgan Stanley, Hong, Dong Chen, Andy Maynard, Morgan, James Liu, Guan Yi, Summer Zhen, Jason Xue, Tom Westbrook, Jacqueline Wong Organizations: National People's Congress, REUTERS, BofA Securities, Pictet Wealth Management, China, Reuters, G Investments, Thomson Locations: Shanghai, China, HONG KONG, Beijing, Asia, Singapore, Hong Kong, Pacific
Rep. Lauren Boebert tried to force the House to vote on impeaching Joe Biden this week. Most Republicans viewed Boebert's effort as being too rushed and politically risky, arguing that it would not be appropriate to consider impeaching Biden until ongoing House investigations are resolved. Each time, the House voted to table his resolutions, and party leaders made clear that they did not support Green's efforts, similarly arguing that impeaching Trump was premature. "No, I don't," she said when asked in 2019 if she supported Green's third impeachment effort. Boebert, speaking with reporters on Wednesday, made clear that she's willing to force another vote if the House doesn't take up impeachment soon.
Persons: Lauren Boebert, impeaching Joe Biden, , Joe Biden, impeaching Biden, Al Green, Houston Democrat who's, Donald Trump, impeaching Trump, Nancy Pelosi, Steny Hoyer, Green's, Pelosi, Trump, Trump —, Hunter Biden, Green, Adam Schiff of, Anna Paulina Luna of, Biden, I'm Organizations: Republican, One, Democrat, Service, House Republican, House Homeland Security, , Houston Democrat, Democrats, Democratic House, Democratic, Republicans, Republican Rep, Caucus, University of Massachusetts Amherst, Trump Locations: Colorado, Texas, Ukraine, Adam Schiff of California, Anna Paulina Luna of Florida
Embracer’s standalone pitch hits the right buttons
  + stars: | 2023-06-13 | by ( ) www.reuters.com   time to read: +2 min
The $3 billion video-game holding company announced on Tuesday that it would slash costs and investments to achieve a more “stable future”. The new strategy is to rely on its own free cash flow, rather than partnerships or capital hikes, to fund the business. Wingefors wants to cut overhead costs by at least 10% compared to the last quarter’s annual run rate. At least Wingefors’ new standalone survival strategy gives him a stronger negotiating hand if a bid comes along. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Persons: Lars Wingefors, it’s, Wingefors, Oliver Taslic, Liam Proud, Pranav Kiran Organizations: Reuters, Investors, Twitter, Thomson Locations: India, Teck, China
The Bank of England in February removed its explicit guidance and tied decisions to inflation data. The Bank of Japan, by contrast, still battling to raise perennially weak inflation, has left the core part of its guidance intact with a pledge to "patiently" sustain loose policies. The European Central Bank says it has adopted a "meeting-by-meeting" approach with "a strong preference against returning to outright forward guidance on policy rates." If the projections show the policy rate moving up later this year, officials will likely face questions if they do as expected and hold rates steady at the June meeting. If the rate is not seen moving up, they will face questions about not being responsive to recent data showing strong inflation despite pledging to be "data dependent."
Persons: Jerome Powell, BOE, Andrew Bailey, Powell, Ben Bernanke, Bernanke, Gregory Daco, Louis, James Bullard, Data's, Howard Schneider, Dan Burns, Andrea Ricci Organizations: Reserve Bank of Australia, Bank of Canada, Bank of England, Bank of Japan, European Central Bank, Louis Fed, Reuters, Thomson Locations: Central
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