fed rate cuts: Sectoral rotation away from Magnificent 7 seen in US, pickup in midcaps, smallcaps: Ajay Bagga

Ajay Bagga, market expert, says there will be one more data set for the Fed and probably the August data as well, before they meet on 18th September. It is better to wait and watch. They have been quite clear in saying that the whole thing is meeting to meeting data-driven. The big difference yesterday … Read more

Powell on rate cut: Fed would not wait for 2% inflation to consider rate cut: Powell

Washington, Jul 10, 2024 -The US central bank will not want to wait for inflation to cool to its two percent target before considering a rate cut, Federal Reserve Chair Jerome Powell told lawmakers Wednesday. “We’ve said that you don’t want to wait until inflation gets all the way down to two percent, because inflation … Read more

Fed minutes: Is Wall Street factoring in a rate cut by year-end? Geoff Dennis answers

“I think July is a tough call now, although the payroll numbers on Friday will give us another clue on that. But I think they will cut twice before the end of the year, probably in September and December,” says Geoff Dennis, Independent EM Commentator.Just wanted your interpretation of the Fed minutes coming in and … Read more

India central bank policymakers divided over rate-growth debate

A consensus appears to be emerging among the external members of the Reserve Bank of India’s monetary policy committee that high interest rates are damaging to economic growth, a sign that the debate over the timing of any easing is intensifying. Jayanth Rama Varma and Ashima Goyal voted at the June meeting for a rate … Read more

Asian markets: Here’s what to watch in Asian markets after Fed decision, CPI

Asian stocks and currencies advanced on Thursday after the double-whammy of a Federal Reserve rate decision and US consumer price data. Equities and dollar-denominated bonds are seen benefiting, even if the bullish inflation reading was tempered by Fed officials pulling back their rate cut forecasts for the year, according to strategists. Currencies like the rupiah … Read more

MPC: We don’t expect rate cut in 2024 unless growth or inflation surprises on downside: Tanvee Gupta Jain

“I would say most of the forecast will be retained. A lot of focus will be on the upcoming budget and the policy henceforth rather than expecting really meaningful on Friday’s policy,” says Tanvee Gupta Jain, Chief India Economist, UBS Securities India.Well, a rate cut or a rate action clearly is not on the cards, … Read more

gold prices: Gold records its worst weekly fall this year on hawkish Fed minutes

Gold recorded its worst weekly slump this year in the week ending May 24 on hawkish FOMC minutes and robust US PMIs. Now, markets largely look for just one rate cut this year as traders readjust their rate expectations in the wake of the US data and the Fed’s stance. Spot gold closed with a … Read more

BoE inches closer to rate cut as second policymaker backs easing

The Bank of England (BoE) moved closer to cutting interest rates from a 16-year high after a second policymaker voted for lower borrowing costs and Governor Andrew Bailey said he was “optimistic that things are moving in the right direction.” Deputy Governor Dave Ramsden joined external member Swati Dhingra in calling for an immediate cut … Read more

Federal Reserve: US Fed’s preferred inflation gauge to back rate-cut hold

Federal Reserve officials are about to get further confirmation that inflation progress has stalled, supporting what appears to be a shift in tone to keep interest rates higher for longer than previously anticipated. Policymakers’ preferred inflation gauge – the personal consumption expenditures price index – probably stayed elevated in March, according to data due in … Read more

Gold subdued as sticky US inflation prompts rate-cut rethink

Gold prices steadied on Wednesday, after posting its biggest decline in a month in the previous session after a sticky U.S. inflation report boosted bond yields and slightly tempered hopes for a June interest rate cut from the Federal Reserve. FUNDAMENTALS * Spot gold edged 0.1% up to $2,158.26 per ounce, as of 0151 GMT. … Read more