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Search resuls for: "Howard Schneider William Schomberg"


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☆ Inflation trumps financial risks as central bank tightening set to continue
  + stars: | 2023-04-12 | by ( Howard Schneider William Schomberg Balazs Koranyi | Howard Schneider | William Schomberg | ) www.reuters.com   time to read: +7 min
Reuters GraphicsNOTHING 'BROKEN' YETInternational economic officials gathering in Washington this week for the IMF and World Bank spring meetings can take some comfort that pandemic-era risks are continuing to diminish. An aggressive year of central bank rate hikes hasn't yet "broken" any of the economies involved, with the U.S. unemployment rate at 3.5%, near its lowest level since the late 1960s. Still, that terminal rate remains unclear, and the end of synchronized tightening by the Fed, BoE and European Central Bank doesn't mean tight monetary policy is going away. Wages, services and food are driving price growth to the point that the ECB's attention has shifted almost entirely to underlying inflation on fears that rapid price growth is at risk of getting stuck above target. The U.S. central bank is expected to increase its benchmark overnight interest rate by another quarter of a percentage point next month, and signal whether more hikes may be warranted.
☆ Bank of England governor has 'meeting of minds' with Hunt
  + stars: | 2022-10-15 | by ( Howard Schneider William Schomberg | Howard Schneider | William Schomberg | ) www.reuters.com   time to read: +4 min
"I can tell you that there was a very clear and immediate meeting of minds between us about the importance of fiscal sustainability and the importance of taking measures to do that," Bailey said. Truss criticised the BoE during her leadership campaign, saying she wanted to set a "clear direction of travel" for the central bank. "We will not hesitate to raise interest rates to meet the inflation target," Bailey said. "And, as things stand today, my best guess is that inflationary pressures will require a stronger response than we perhaps thought in August." "In these difficult times, we need to be very clear on this framework of intervention," Bailey said.
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