GuShiio.com Compiled by: GaryMa GuShiio.com blockchain
abstract
GuShiio.com’s macro indicators and analysis for the week: Last week, U.S. inflation data CPI and PPI were higher than market expectations, and Powell’s hearing said there was no rush to cut interest rates; this week, we will focus on the Federal Reserve’s release of the minutes of the January monetary policy meeting and the Federal Reserve’s interest rate decisions of Australia and New Zealand.
Last week review
When Federal Reserve Chairman Powell attended a Senate Banking Committee hearing, he said that the current U.S. economic situation is good, with the unemployment rate of 4%, and the inflation rate close to the Federal Reserve’s 2% target, so the Federal Reserve is not in a hurry to cut interest rates.
When Federal Reserve Chairman Powell attended a hearing before the House Financial Services Committee, he said that the U.S. economy remains stable and that the Federal Reserve will remain patient in decision-making, pay attention to risk factors that may affect economic growth, and clearly oppose the central bank’s digital currency.
The United States ‘unseasonally adjusted CPI annual rate of 3% in January, the largest increase since June 2024. Expected 2.90%, previous value 2.90%.
In the United States, the number of initial jobless claims for the week ending February 8 was 213,000, and the expected number was 215,000. The previous value was revised from 219,000 to 220,000.
The U.S. PPI recorded an annual rate of 3.5% in January, higher than market expectations of 3.2%, the largest increase since February 2023.
The Bank of Canada released minutes of its January monetary policy meeting: Global economic growth is expected to remain at around 3%, but the strong performance of the U.S. economy may put upward pressure on inflation. Canada’s domestic economy is showing signs of recovery, with household spending picking up and the housing market active, but the labor market is still weak. Inflation remains at about 2%, and is expected to remain at this level over the next two years. Taking into account the uncertainty, the central bank decided to cut the policy rate by 25 basis points to 3%. At the same time, in view of the potential impact of the trade conflict, the central bank will resume asset purchase operations on March 5, 2025 and adjust the deposit rate to 5 basis points below the policy rate to support the short-term financing market.
Key event indicators for the week
February 17
Federal Reserve Governor Bowman delivered a speech (23:20)
February 18
Reserve Bank of Australia announces interest rate decision (11:30)
February 19
The Federal Reserve Bank of New Zealand announces interest rate decision and monetary policy statement (09:00)
February 20
Federal Reserve releases minutes of January monetary policy meeting (03:00)
Number of initial jobless claims in the United States for the week ending February 15 (ten thousand people)(21:30)
