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A Reuters poll showed 25 economists said the Bank of Korea would cut the base rate by 25 basis points to 2.75 percent on Feb. 25.
Bank of America economists say investors should keep an eye on the two-month growth rate when the November jobs report is released on Friday, especially given the risk of a major revision to the October data. A Wall Street Journal survey shows that the U.S. non-farm payroll is expected to record an increase of 214,000 in November, up from 12,000 in October. Bank of America expects that number to exceed 240,000 due to the impact of hurricanes and the Boeing strike. It also expects the labor force...
Most economists polled by the media expect the BoJ to hold its base rate unchanged next week before raising rates in December or January. Almost all 53 BoJ watchers expect the BoJ to hold its ground on October 31, the survey showed. Some 53 per cent expect the BoJ to raise rates in December, the most popular timing. Those expecting a January rate rise jumped from 19 per cent to 32 per cent, while expectations for a rate rise this month fell.
Andrew Hollenhorst, economist at Citi, believes that the combination of the US PPI index and yesterday's unexpectedly higher CPI supports the Federal Reserve's decision to cut interest rates by 25 basis points next month. The Fed's preferred inflation measure, the PCE, combines CPI and PPI price data, so the combination of the two data allows forecasters to make accurate predictions for September PCE. Citi believes that core PCE, which excludes volatile food and energy prices, will increase by 0...
Many investors and some economists worry that the Fed has waited too long, putting the labor market and economic growth on thin ice and injecting volatility into the financial marekt. The latter was evident in the Treasury market on Friday when traders abruptly resumed bets on a 50 basis point rate cut. November's presidential election also puts the Fed's decision-making in an unpleasant position. Republican candidate and former President Donald Trump has warned that the Fed should not cut rates...
A Reuters poll showed that most economists surveyed believe the Federal Reserve will cut interest rates by 25 basis points at each of the three remaining policy meetings in 2024, and only nine of 101 economists expect the Fed to cut rates by 50 basis points next week. Stephen Stanley, chief U.S. economist at Santander, said: "The jobs report, while weak, is not catastrophic. Neither Williams nor Waller on Friday agreed with...
The Economist Intelligence Unit report shows that institutional investors' interest in digital assets continues to grow. The report predicts that digital assets will account for 7% of institutional portfolios by 2027, and the size of the tokenized asset market is expected to exceed $10 trillion by 2030. At present, asset managers allocate 1% -5% of their assets to digital assets. The survey shows that 51% of institutional investors are considering spot cryptocurrency allocations, 33% are concern...
Most economists surveyed expect the Fed to cut interest rates by only 25 basis points in September, contrary to calls from some of Wall Street's largest banks for a significant rate cut. Nearly four-fifths of economists surveyed by foreign media predict that the Fed will cut interest rates by 25 basis points at the September meeting, and most of the remaining economists predict a larger cut. The median forecast shows an emergency adjustment before the September meeting...
UBS economist Nic Guesnon said the Reserve Bank of New Zealand is expected to leave the official cash rate unchanged at 5.50% at its policy meeting next week, but that looks like a very close decision to a rate cut. He said the Reserve Bank of New Zealand made a major shift in a dovish direction in its July policy statement, but traders and economists still don't know if they are considering a rate cut at that meeting. He added that the market expected a 70% chance of a 25 basis point rate cut i...
Jefferies economist Mohit Kumar said in a report that money markets' recent sharp repricing of the Fed's rate cuts - up to 125 basis points this year, before falling back on Tuesday - was an overreaction and did not reflect fundamentals. Jefferies does not expect the Fed to cut rates by 50 basis points in September, nor by 100 basis points or more this year, "despite aggressive moves, we do not think fundamentals have changed much". Jefferies expects money market pricing to be cut.
Reuters poll: 63% of economists surveyed said the Bank of Japan will decide to start tapering its bond purchases at its June meeting (up from 41% in the May survey). 92% of economists said the Bank of Japan will raise interest rates to at least 0.20% by the end of 2024 (up from 88% in the May survey).
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