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Good morning. Markets see the Federal Reserve moving closer to easing. A Danish mpox supplier lands a large order. And Bank of Japan Governor Ueda faces parliament. Here’s what people are talking about.
Stocks in Asia came off session highs ahead of key events from the Fed and the BOJ that will help define the global rates trajectory. That came after stocks stateside posted modest gains on further signs the US central bank will ease policy. The latest minutes showed several Fed officials acknowledged there was a plausible case for cutting interest rates at their July 30-31 meeting before the policy committee voted unanimously to keep them steady. The record of the gathering highlights an emerging sense among policymakers that risks to achieving the inflation and employment goals are now about equal, even as borrowing costs remain at a two-decade high. With ECB Governing Council member Fabio Panetta also saying it’s realistic to expect further cuts, attention turns to Fed Chair Jerome Powell and the annual gathering at Jackson Hole.
For more insights into what central bankers will be discussing there, listen to the In the City podcast.