during his press conference. with us inflation running still well above the bank s 2% target, it sjob is not yet done. i think, as anyone can see, not a single person on the committee wrote down a rate cut this year, nor do i think it is at all likely to be appropriate if you think about it. inflation has not really moved down. it has not so far reacted much to our existing rate hikes, and so we re going to have to keep at it. most officials think two more rate hikes are needed this year, starting perhaps as early as next month. wednesday s decision ushers in a new phase in the fed s battle to lower prices follows a path carved out by central banks in countries such as australia and canada, which recently announced rate hikes following a break. michelle fleury there in washington, dc. the latest decision by america s central bank comes at a time when inflation is slowing but not as quickly as the federal reserve wants it to be. earlier, i spoke to blerina uruci of t.rowe pric
chair to powell made clear during his press conference with us inflation running still well above the bank? 2% target, and itsjob is not yet done. figs and its job is not yet done. as an one and itsjob is not yet done. sis anyone can and itsjob is not yet done. is anyone can see, not a single person wrote down a rate cut this year, not i think it is at all likely to be appropriate if you think about it. inflation has not really down, it has not so far reacted much to our existing rate hikes, and so we re going to have to keep at it. ~ .,, we re going to have to keep at it. most officials think two rate heights it. most officials think two rate heights are it. most officials think two rate heights are needed . it. most officials think two l rate heights are needed this year, perhaps starting as early as this month. wednesday s decision ushers in a new phase to battle prices and follows a path carved out by central banks in countries such as australia and canada which rece
-3 1/2% quantum of the easing bill, the 3 1/2% was quantum of the easing bill, the 31/2% was more than what both analysts were expecting, but wholesale inflation will continue to fall further and remain in doubt for at least a few more months, and they will be watching up any upward movement in crude oil prices with el nino like conditions that could impact agriculture because that poses an outside risk to inflation and these numbers will get some relief to the indian central bank which kept its key lending rates steady recently but signalled that rates will not come down for some time as it looks for further inflation release, particularly on the west side. meanwhile, canada is moving to freeze its ties with the china lead asia infrastructure investment bank following allegations that it was dominated by the chinese communist party. authorities are investigating the claims brought by the bank s form a
cycle because of the pace in which financial conditions have tightened, and how high inflation is, there is a real chance that the fed may need to create much more slack in the labour market in order to bring inflation down, and is typically when you create this much slack recessions start to follow, so that remains a real possibility, it s hard right now to have conviction with regards to the exact when the economy may really feel the pain from the tightening monetary policy. staying with the cost of monetary policy. staying with the cost of living, monetary policy. staying with the cost of living, and - monetary policy. staying with the cost of living, and india i the cost of living, and india is seeing the annual wholesale prices of may slide following into negative territory for the second straight month. most economies are not surprised by this and it s largely because this and it s largely because this is being driven by a global drop in commodity prices, to think such minera
so things such mineral oils, crude petroleum and natural gas as well as food, they ve all gotten cheaper. the quantum of the easing bill, a 3.5%, was more than what both analysts were expecting, but wholesale inflation will continue to fall further and remain in the negative territory for at least a few more months, but they will be watching out for is any upward movement in crude oil prices or severe el nino like conditions that could impact agriculture because that poses an outside risk to inflation. these numbers will get some relief to the indian central bank which kept its key lending rates steady recently but signalled that rates will not come down for some more time as it looks for further inflation relief particularly on the consumer side. nikhil inamdar in mumbai. meanwhile, canada is moving to freeze its ties with the china led asia infrastructure investment bank following allegations that it was dominated by the chinese communist party. authorities are investigating the cla