Insight - Rate hikes now won’t mean easier times later

admin 4周前 (09-04) 社会 3 1

幸运哈希www.hx198.vip)采用波场区块链高度哈希值作为统计数据,游戏数据开源、公平、无任何作弊可能性,开放单双哈希、幸运哈希、哈希定位胆、哈希牛牛等游戏。

Two of the world’s earliest hikers – the Bank of Korea (BoK) and the Reserve Bank of New Zealand (RBNZ) – signalled no imminent letup in the battle against soaring prices.The BoK, which began lifting rates in quarter-point steps almost a year ago, ditched incrementalism on Wednesday: the bank raised its benchmark rate by a half point to 2.25%.

SUCH is the determination these days to look tough on inflation that to even risk being portrayed as dovish is a stigma, regardless of merit.

The relentlessness with which many central banks are raising interest rates into a slowing global economy shows there’s little reward in modest, albeit consistent, steps.

No matter whether the officials in question were among the first to begin withdrawing pandemic-era stimulus. The consequent risks of overdoing it and being forced into an about-face and cutting in 2023 – or earlier – are mounting.

Two of the world’s earliest hikers – the Bank of Korea (BoK) and the Reserve Bank of New Zealand (RBNZ) – signalled no imminent letup in the battle against soaring prices.

The BoK, which began lifting rates in quarter-point steps almost a year ago, ditched incrementalism on Wednesday: the bank raised its benchmark rate by a half point to 2.25%.

That it was predicted by a majority of economists made it no less noteworthy. New chief Rhee Chang-yong has apparently decided that with inflation well above target, measured and steady risks being conflated with timidity.

Rhee held out the prospect of a return to smaller installments, but emphasised that inflation was too high.

,

新2开户www.hg108.vip)是一个开放皇冠正网即时比分、新2开户的平台。新2线上开户平台(www.hg108.vip)提供最新皇冠登录,皇冠APP下载包含新皇冠体育代理、会员APP。

,

The RBNZ unveiled its third sequential hike of half-a-percentage point and signalled more to come.

“The committee is resolute in its commitment to ensure consumer price inflation returns to within the 1% to 3% target range,” the central bank said in a statement that also acknowledged a weakening global growth picture.

Escalating prices are the near enemy; slackening activity is more distant.

Like their counterparts in Seoul, New Zealand officials nevertheless warned of a hit to house prices.

What’s striking about these actions is that the duo face a significant erosion in growth, and possibly recession. Yes, inflation is too high; South Korean consumer prices rose the most in a generation during June.

No central banker wants to be damned by history as the one who was too sanguine and allowed skyrocketing prices to become embedded in the decisions, let alone psychology, of consumers and businesses.

Nor are Wellington and Seoul outliers: The Federal Reserve is weighing a second consecutive 75-basis-point hike this month, the European Central Bank is approaching liftoff, and Singapore is tightening.

The ink was barely dry on the Reserve Bank of Australia labelling 25-basis-point nudges “business as usual” than it switched to moves of twice that magnitude.

Sunbet声明:该文看法仅代表作者自己,与本平台无关。转载请注明:Insight - Rate hikes now won’t mean easier times later

网友评论

  • (*)

最新评论

文章归档

站点信息

  • 文章总数:9537
  • 页面总数:0
  • 分类总数:8
  • 标签总数:2050
  • 评论总数:5429
  • 浏览总数:589027