Latest news with #MonetaryPolicyReport
Business Recorder
7 days ago
- Business
- Business Recorder
Advanced calendar of MPC meetings released: SBP announces publication of biannual MPRs
KARACHI: The State Bank of Pakistan (SBP) on Tuesday announced publication of biannual Monetary Policy Reports and releases advance calendar of Monetary Policy Committee (MPC) meetings for FY26. In line with SBP's Strategic Plan-Vision 2028 and to enhance transparency in the monetary policy formulation process, the SBP will be publishing a Monetary Policy Report (MPR) on biannual basis. The MPRs are timed to be released within two weeks of the July and January MPC meetings, where SBP will update its projections for key macroeconomic indicators. The reports will supplement SBP's other monetary policy-related communications with key stakeholders. Monetary Policy Committee: SBP issues advance calendar for meetings in FY26 These efforts are all geared towards enhancing the effectiveness of monetary policy transmission by anchoring inflation expectations, and are part of SBP's roadmap towards adopting an inflation targeting regime. Furthermore, in line with its efforts to increase institutional transparency and install greater stakeholder confidence in financial planning over a longer period, the SBP has decided to increase the horizon of the advance calendar of MPC meetings. In this regard, the schedule of MPC meetings for full-year FY26 is below: The first Monetary Policy Committee (MPC) meeting for the fiscal year 2025–26 will be held on Wednesday, July 30, 2025. The second meeting is scheduled for Monday, September 15, 2025, followed by the third on Monday, October 27, 2025. The fourth meeting will take place on Monday, December 15, 2025, the fifth on Monday, January 26, 2026, the sixth on Monday, March 9, 2026, the seventh on Monday, April 27, 2026, and the final meeting of the fiscal year will be held on Monday, June 15, 2026. The next advance calendar for MPC meetings will be issued in July 2026. In case of any unforeseen events on any of the announced dates, a new date will be communicated in due course. Copyright Business Recorder, 2025
Economic Times
23-06-2025
- Business
- Economic Times
Gold rises as investors seek safe havens amid Middle East conflict fears
Gold prices inched higher on Monday as investors turned to safe-haven assets amid growing fears of a broader Middle East conflict, with markets closely watching for Iran's response to U.S. attacks on its nuclear sites. ADVERTISEMENT FUNDAMENTALS * Spot gold was up 0.1% at $3,371.30 an ounce, as of 0020 GMT. U.S. gold futures were steady at $3,387.20. * The world braced on Sunday for Iran's response after the U.S. attacked key Iranian nuclear sites, joining Israel in the biggest Western military action against the Islamic Republic since its 1979 revolution. * In a televised address, U.S. President Donald Trump warned Iran against retaliating, stating that any response would trigger further attacks unless Iran agreed to pursue peace. * Tehran vowed retaliation, with missile exchanges between Iran and Israel continuing over the weekend. Israeli fighter jets struck military sites in western Iran, according to officials, while Iranian missiles wounded scores of people and flattened buildings in Tel Aviv. ADVERTISEMENT * Meanwhile, the close split at the U.S. Federal Reserve over whether to keep hedging against inflation risks or move forward faster with rate cuts came through on Friday in the first public comments from policymakers following a decision this week to hold borrowing costs steady for now. * The Fed's latest Monetary Policy Report to Congress, released on Friday, said that U.S. inflation remains somewhat elevated and the labor market is solid. However, it suggested that the full impact of Trump's tariffs is likely yet to be felt, reiterating the Fed's stance that it can wait for greater clarity before making policy moves. ADVERTISEMENT * On Friday, Trump once again floated the idea of firing Fed Chair Jerome Powell, whom he has long criticized for not lowering interest rates as much as he wants. * Elsewhere, spot silver was up 0.1% at $36.03 per ounce, platinum fell 0.3% to $1,260.78, while palladium edged down 0.1% to $1,043. DATA/EVENTS (GMT) 0030 Japan JibunBK Comp Op, SVC PMI, Mfg PMI Flash SA June 0715 France HCOB Mfg, Services, Composite Flash PMI June 0730 Germany HCOB Mfg, Services, Composite Flash PMI June 0800 EU HCOB Mfg, Services, Composite Flash PMI June 0830 UK Flash Composite, Manufacturing, Services PMI June 1345 US S&P Global Mfg, Services, Comp PMI Flash June 1400 US Existing Home Sales May. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
New Straits Times
23-06-2025
- Business
- New Straits Times
Gold rises as investors seek safe havens amid Middle East conflict fears
NEW YORK: Gold prices inched higher on Monday as investors turned to safe-haven assets amid growing fears of a broader Middle East conflict, with markets closely watching for Iran's response to US attacks on its nuclear sites. Spot gold was up 0.1 per cent at US$3,371.30 an ounce, as of 0020 GMT. US gold futures were steady at US$3,387.20. The world braced on Sunday for Iran's response after the US attacked key Iranian nuclear sites, joining Israel in the biggest Western military action against the Islamic Republic since its 1979 revolution. In a televised address, US President Donald Trump warned Iran against retaliating, stating that any response would trigger further attacks unless Iran agreed to pursue peace. Tehran vowed retaliation, with missile exchanges between Iran and Israel continuing over the weekend. Israeli fighter jets struck military sites in western Iran, according to officials, while Iranian missiles wounded scores of people and flattened buildings in Tel Aviv. Meanwhile, the close split at the US Federal Reserve over whether to keep hedging against inflation risks or move forward faster with rate cuts came through on Friday in the first public comments from policymakers following a decision this week to hold borrowing costs steady for now. The Fed's latest Monetary Policy Report to Congress, released on Friday, said that US inflation remains somewhat elevated and the labor market is solid. However, it suggested that the full impact of Trump's tariffs is likely yet to be felt, reiterating the Fed's stance that it can wait for greater clarity before making policy moves. On Friday, Trump once again floated the idea of firing Fed Chair Jerome Powell, whom he has long criticized for not lowering interest rates as much as he wants. Elsewhere, spot silver was up 0.1 per cent at US$36.03 per ounce, platinum fell 0.3 per cent to US$1,260.78, while palladium edged down 0.1 per cent to US$1,043.
Business Times
23-06-2025
- Business
- Business Times
Gold rises as investors seek safe havens amid Middle East conflict fears
[BENGALURU] Gold prices inched higher on Monday (Jun 23) as investors turned to safe-haven assets amid growing fears of a broader Middle East conflict, with markets closely watching for Iran's response to US attacks on its nuclear sites. Spot gold was up 0.1 per cent at US$3,371.30 an ounce, as at 0020 GMT. US gold futures were steady at US$3,387.20. The world braced on Sunday for Iran's response after the US attacked key Iranian nuclear sites, joining Israel in the biggest Western military action against the Islamic Republic since its 1979 revolution. In a televised address, US President Donald Trump warned Iran against retaliating, stating that any response would trigger further attacks unless Iran agreed to pursue peace. Tehran vowed retaliation, with missile exchanges between Iran and Israel continuing over the weekend. Israeli fighter jets struck military sites in western Iran, according to officials, while Iranian missiles wounded scores of people and flattened buildings in Tel Aviv. Meanwhile, the close split at the US Federal Reserve over whether to keep hedging against inflation risks or move forward faster with rate cuts came through on Friday in the first public comments from policymakers following a decision this week to hold borrowing costs steady for now. The Fed's latest Monetary Policy Report to Congress, released on Friday, said that US inflation remains somewhat elevated and the labour market is solid. However, it suggested that the full impact of Trump's tariffs is likely yet to be felt, reiterating the Fed's stance that it can wait for greater clarity before making policy moves. On Friday, Trump once again floated the idea of firing Fed chair Jerome Powell, whom he has long criticised for not lowering interest rates as much as he wants. Elsewhere, spot silver was up 0.1 per cent at US$36.03 per ounce, platinum fell 0.3 per cent to US$1,260.78, while palladium edged down 0.1 per cent to US$1,043. REUTERS
New York Post
20-06-2025
- Business
- New York Post
Fed divided over whether to slash interest rates in July
Federal Reserve officials are signaling a widening divide over when to begin cutting interest rates, with Governor Christopher Waller pushing for a reduction as soon as next month — while Richmond Fed President Thomas Barkin is warning that tariff-driven inflation risks still loom large. 'I think we're in the position that we could do this as early as July,' Waller told CNBC's 'Squawk Box' on Friday. 'That would be my view, whether the committee would go along with it or not.' Waller argued that inflation has cooled enough to justify easing monetary policy and downplayed concerns over Trump-era tariffs. 'It should be a one-off level effect and not cause persistent inflation,' he said. 4 Federal Reserve Governor Christopher Waller signaled Friday that the central bank could begin easing interest rates as early as next month. REUTERS 4 Richmond Fed President Thomas Barkin is warning that tariff-driven inflation risks still loom large. REUTERS Barkin took a more cautious tone, telling Reuters: 'I don't think the data gives us any rush to cut…I am very conscious that we've not been at our inflation target for four years.' He pointed to ongoing uncertainty over trade policy, telling Reuters: 'There will be some inflationary impact. It's hard to know how much.' A Federal Reserve governor is a nationally appointed official who always votes on monetary policy. The president of a regional Fed bank, such as Richmond, votes on a rotating basis and focuses on regional conditions. Barkin noted the labor market remains solid and consumer spending is steady. 'Nothing is burning on either side such that it suggests there's a rush to act,' he said. His comments came just after the Fed released its latest Monetary Policy Report to Congress, which acknowledged that inflation is 'somewhat elevated' and trade policy impacts are 'highly uncertain.' Consumer spending, Barkin said, is 'holding up fine. It's not frothy. It's not weak.' Employers, he added, are still in a 'low-hiring-low-firing' posture. The central bank held its key rate steady this week. Projections showed a near-even split: 10 officials see two or three cuts in 2025; nine see one or none. 'There are two perfectly reasonable views that are articulated there,' according to the Richmond fed boss. Waller urged a cautious start. 'You'd want to start slow and bring them down, just to make sure that there's no big surprises. But start the process. That's the key thing,' he told CNBC. Markets showed mixed signals Friday. As of 1:01 PM EDT, the Dow Jones rose 118.13 points (0.28%) to 42,289.79. The S&P 500 edged down 0.67 points to 5,980.20, and the Nasdaq slipped 54.82 points (0.28%) to 19,491.45. 4 Fed Chair Jerome Powell said this week that the central bank would keep interest rates steady. Getty Images 4 President Trump has been agitating for the Fed to lower interest rates for months. AP Trump has called for steep rate cuts to ease pressure on the $36 trillion national debt, recently labeling Fed Chair Jerome Powell 'stupid' and a 'numbskull.' Still, Powell and others have maintained a cautious stance, emphasizing a wait-and-see approach. 'We've been on pause for six months, thinking that there was going to be a big tariff shock to inflation. We haven't seen it,' Waller said. The next Fed meeting comes just ahead of a July 9 trade deadline that could bring another round of tariffs. 'I'd say the overwhelming reaction we're still getting is wait and see,' Barkin said. 'Wait and see is not put your foot on the brakes. It's just not put your foot on the gas.'
