Compiled by: GaryMa Wu Blockchain about blockchain
Summary
Wu Blockchain this week's macroeconomic indicators and analysis: Last week, the central banks of Australia and England kept their interest rates unchanged, and the Swiss National Bank cut interest rates as expected; the overall attitude of Fed officials was conservative. This week, we will focus on the core PCE inflation index that the Fed favors the most and the results of the Fed's annual bank stress test.
Last week review
●2026 FOMC voting member and Philadelphia Fed President Harker delivered a speech on the economic outlook: Based on current forecasts, a rate cut in 2024 would be appropriate.
●The Reserve Bank of Australia kept interest rates unchanged as expected and remained vigilant to the upward risks of inflation.
●Barkin, 2024 FOMC voting member and Richmond Fed President, delivered a speech on the U.S. economy and monetary policy: interest rates can only be cut after the inflation path is further clarified.
●Federal Reserve Board Governor Kugler delivered a speech on the economic outlook and monetary policy: the long-term neutral real interest rate is not particularly helpful for policy making, and it is appropriate to cut interest rates later this year.
●Minutes of the Bank of Canada meeting: The June meeting considered waiting until July to cut interest rates, suggesting that future easing will be "gradual."
●The Swiss National Bank (SNB) announced its interest rate decision, cutting interest rates by 25 basis points as expected, lowering the benchmark interest rate from 1.5% to 1.25%.
●The Bank of England kept interest rates unchanged.
●The four-week average of initial jobless claims in the United States for the week ending June 15 was 232,750, compared with 227,000 in the previous week.
This week's key events & indicators
June 24 ● The Bank of Japan released a summary of the opinions of the June monetary policy meeting committee (07:50)
June 25 ● 2024 FOMC voting member and San Francisco Fed President Mary Daly delivered a speech on monetary policy and the economy (02:00)
June 27th ● Federal Reserve releases annual bank stress test results (04:30)
●The Swedish Central Bank announces its interest rate decision and releases its June monetary policy report (15:30)
●Initial jobless claims in the U.S. for the week ending June 22 (10,000 people) (20:30)
●Final value of the annualized quarterly rate of real GDP in the first quarter of the United States (20:30)
●Final value of the annualized quarterly rate of the U.S. core PCE price index in the first quarter (20:30)
June 28 ● U.S. May core PCE price index annual rate (20:30)
●Final value of the University of Michigan Consumer Confidence Index in June (22:00)
Summary
Wu Blockchain this week's macroeconomic indicators and analysis: Last week, the central banks of Australia and England kept their interest rates unchanged, and the Swiss National Bank cut interest rates as expected; the overall attitude of Fed officials was conservative. This week, we will focus on the core PCE inflation index that the Fed favors the most and the results of the Fed's annual bank stress test.
Last week review
●2026 FOMC voting member and Philadelphia Fed President Harker delivered a speech on the economic outlook: Based on current forecasts, a rate cut in 2024 would be appropriate.
●The Reserve Bank of Australia kept interest rates unchanged as expected and remained vigilant to the upward risks of inflation.
●Barkin, 2024 FOMC voting member and Richmond Fed President, delivered a speech on the U.S. economy and monetary policy: interest rates can only be cut after the inflation path is further clarified.
●Federal Reserve Board Governor Kugler delivered a speech on the economic outlook and monetary policy: the long-term neutral real interest rate is not particularly helpful for policy making, and it is appropriate to cut interest rates later this year.
●Minutes of the Bank of Canada meeting: The June meeting considered waiting until July to cut interest rates, suggesting that future easing will be "gradual."
●The Swiss National Bank (SNB) announced its interest rate decision, cutting interest rates by 25 basis points as expected, lowering the benchmark interest rate from 1.5% to 1.25%.
●The Bank of England kept interest rates unchanged.
●The four-week average of initial jobless claims in the United States for the week ending June 15 was 232,750, compared with 227,000 in the previous week.
This week's key events & indicators
June 24 ● The Bank of Japan released a summary of the opinions of the June monetary policy meeting committee (07:50)
June 25 ● 2024 FOMC voting member and San Francisco Fed President Mary Daly delivered a speech on monetary policy and the economy (02:00)
June 27th ● Federal Reserve releases annual bank stress test results (04:30)
●The Swedish Central Bank announces its interest rate decision and releases its June monetary policy report (15:30)
●Initial jobless claims in the U.S. for the week ending June 22 (10,000 people) (20:30)
●Final value of the annualized quarterly rate of real GDP in the first quarter of the United States (20:30)
●Final value of the annualized quarterly rate of the U.S. core PCE price index in the first quarter (20:30)
June 28 ● U.S. May core PCE price index annual rate (20:30)
●Final value of the University of Michigan Consumer Confidence Index in June (22:00)
