Global Economy

Quantitative tightening (QT) may reach its end point "in the coming months," said Federal Reserve Chairman Jerome Powell in a speech last week. What does it mean? Will QT finish before Powell's chairman term ends?

US PCE price index showed 0% monthly inflation in May, bolstering market narrative that consumption sentiment has weakened in Q2 and helped easing inflationary pressure in the US economy.

What if I tell you, behind the boring news headline, there is actually a wonkish story about how the Hong Kong central bank took advantage of the monetary easing by the Fed in the last 12 year and created a new set of policy options that it can now use to actively mange the inflows created by the new round Fed easing under the Great Lockdown.

EU’s Single Resolution Board has enforced payment moratorium on three European subsidiaries of Russian bank Sberbank, which is under US-led sanction, and is accessing whether any resolution action would be need to to protect public interest.

CPI: 4.0% YoY (Dec: 4.0%); Core CPI: 5.1% YoY (Dec: 5.1%)

Core CPI inflation continues to decelerate to 3.93%

Post-covid trend of the economic inactivity in the UK

US CPI rose 3.35% in the year to April, as expected by analysts. Meanwhile, core CPI, which strips out prices of food and energy, increased 3.61%, also as market expected.

UK average property prices were 3.4% lower compared to the previous year, accelerating the annual fall of 2.7% in April.

US GDP grew at a 2.8% annualized rate in Q2, supported by acceleration in consumer spending, increase in nonresidential fixed investment as well as an upturn in private inventory investment