New York Fed President John Williams said the U.S. central bank is getting closer to the time when it will need to raise its short-term interest-rate target, but he declined to say when he would like that to happen.
The Bank of Japan raised its price forecast slightly amid pandemic-related supply shortages, although it still expects its 2% inflation target won’t be reached for at least the next two years.
Short of a surprisingly robust CPI outcome next week, RBA Gov. Philip Lowe is likely to continue looking to the longer-term horizon when it comes to tightening monetary policy
The People’s Bank of China cut rates on the one-year medium-term lending facility and seven-day reverse repurchase agreements, in a bid to provide more support for the slowing economy.
Global Calendar
WEDNESDAY, JAN 19
- U.S. Commerce Department releases December housing starts
- Bank of England’s Bailey and Cunliffe testify on financial stability report
THURSDAY, JAN 20
- Norges Bank policy rate decision
- Central bank of Turkey interest rate decision
- European Central Bank releases minutes of Dec. 15 and 16 governing council monetary policy meeting