Morning Bid: Turning the corner in the inflation fight
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Central bankers across the globe are showing increasing confidence in lower rates. The Reserve Bank of New Zealand (RBNZ) expects headline inflation to return to the 1% to 3% target range in the second half of this year. Traders are betting on rate cuts in New Zealand later this year. Federal Reserve Chair Jerome Powell stated that the US is no longer an overheated economy and hinted at a possible easing cycle. The market is pricing in a 70% chance of a Fed rate cut in September. The Bank of Japan is expected to trim its economic growth forecast but maintain its 2% inflation target. China's consumer prices grew for a fifth month in June, but missed expectations. The yuan fell to its weakest level since November. Key events for Wednesday include the UK RICS Housing Survey, the reopening of a 14-year German government debt auction, and Powell's testimony before the House Financial Services Committee.
#Inflation #CentralBanks #InterestRates #ReserveBankOfNewZealand #FederalReserve #BankOfJapan #China #Yuan #EconomicGrowth #RateCuts
https://www.investing.com/news/economy-news/morning-bid-turning-the-corner-in-the-inflation-fight-3512891
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