The New York Fed's measure of underlying inflation, the 'multivariate core trend' rate, decreased to 2.6% in October from 2.9% in September, marking the lowest reading since January 2021. The UK's Bank of England Governor Bailey highlighted uncertainties in the Chinese economy, the outlook for inflation, and the strain on UK household finances and businesses due to high rates. The Bank of Canada (BOC) indicated that high rates are restraining spending and reducing inflationary pressures, with economic growth stalling and the economy no longer in excess demand.
π΄ BOC: WE WANT TO SEE FURTHER AND SUSTAINED EASING IN CORE INFLATION, WE CONTINUE TO FOCUS ON BALANCE OF SUPPLY AND DEMAND IN ECONOMY AND INFLATION EXPECTATIONS.
π΄ BOC: PREFERRED MEASURES OF CORE INFLATION HAVE BEEN AROUND 3.5%-4% IN RECENT MONTHS, WITH OCTOBER DATA COMING IN TOWARD LOWER END OF THIS RANGE.
π΄ BOC: RECENT JOB DATA AND Q4 INDICATORS SUGGEST CANADIAN ECONOMY IS NO LONGER IN EXCESS DEMAND.
π΄ BOC: SLOWDOWN IN THE CANADIAN ECONOMY IS REDUCING INFLATIONARY PRESSURES IN A BROADENING RANGE OF GOODS AND SERVICES.
π¨π¦ BOC: Further Signs High Rates Are Slowing Spending, Relieving CPI Pressure π¨π¦ BOC: Economic Growth Has "Stalled" π¨π¦ BOC: Higher Rates "Clearly" Restraining Spending π¨π¦ BOC: Indicators Suggest Economy Is No Longer in Excess Demand π¨π¦ BOC: Economic Slowdown Has Reducedβ¦
π΄ BOC: HIGHER RATES ARE CLEARLY RESTRAINING SPENDING, LABOR MARKET CONTINUES TO EASE.
π΄ BOC: IT IS STILL CONCERNED ABOUT THE RISKS TO INFLATION; STATEMENT DROPS OCTOBER LANGUAGE ABOUT INFLATIONARY RISKS INCREASING.
π΄ BOE GOV. BAILEY: FOR FINANCIAL STABILITY, WE MUST LOOK THROUGH SHORT-TERM FLUCTUATIONS IN MARKETS.
π΄ BOE BREEDEN: LONGER TERM MORTGAGES AREN'T A STABILITY RISK NOW.
π΄ BOE BREEDEN: THE UK HAS SEEN AN INCREASE IN LONGER DATED MORTGAGES.
π΄ BOE GOV. BAILEY: UK BANKS ARE WELL PLACED TO SUPPORT BORROWERS.
π΄ BOE GOV. BAILEY: THE OUTLOOK FOR THE CHINESE ECONOMY IS SUBDUED. CHINA'S WEAKNESS MAY FEED THROUGH TO GLOBAL ECONOMY.
π΄ BOE GOV. BAILEY: THE PATH OF CHINA'S ECONOMY IS A KEY UNCERTAINTY.
π΄ BOE GOV. BAILEY: UK BUSINESSES ARE UNDER PRESSURE DUE TO HIGH RATES.
π΄ BOE GOV. BAILEY: UK HOUSEHOLD FINANCES ARE STRETCHED BY COST OF LIVING.
π΄ BOE GOV. BAILEY: RATES ARE LIKELY NEEDED TO REMAIN AROUND CURRENT LEVELS.
π΄ BOE GOV. BAILEY: THE OUTLOOK FOR INFLATION IS UNCERTAIN.
π΄ BOE GOV. BAILEY: UK BORROWERS REMAIN RESILIENT TO HIGHER RATES.
π΄ BOE GOV. BAILEY: THE FULL IMPACT OF HIGHER RATES ARE YET TO HIT UK.
π΄ BOE FINANCIAL STABILITY REPORT https://t.co/uhebdy1mqw
π΄ BOE: OVERALL RISK ENVIRONMENT REMAINS CHALLENGING.
π΄ BOE SEES SIGNS UK BANK NET INTEREST MARGINS HAVE PEAKED.
π΄ BOE SEES RISK IN GEOPOLITICAL TENSION AND OUTLOOK FOR THE ECONOMY.
Underlying US inflation pressures eased in October, NY Fed says https://t.co/UcvZF9uOf7 https://t.co/vRkeOPZamH
πΊπΈLess persistent #inflation π@NewYorkFed Multivariate Core Trend (MCT) inflation was 2.6% in October, a 0.3ppt decrease from September π68% percent probability band is (2.2, 3.0) https://t.co/EN5KQ1tVJ8
NY Fed's Multivariate Core Trend (MCT) Inflation Measure Lowest In Nearly 3 Years https://t.co/29ihTPgP2Y https://t.co/DAv9v02vli
The New York Fed's measure of underlying inflation (the "multivariate core trend" rate) ticked down to 2.6% in October from 2.9% in September This was the lowest reading since January 2021 https://t.co/84wzo4UMgK https://t.co/duqE47r20k