Harker in Philadelphia No real comments on rates or the economic outlook. He warned that student loan debt could burden new workers and dissuade others from higher education.
Companies just aren’t used to paying more for quality workers The Fed’s Kashkari chimed in on twitter in response to yesterday’s WSJ story about a ‘historic labor shortage’. He says that the ultimate guide to the tightness of the labor market is price. As in the price of work, or wages.
Williams in Madrid – Gradual hikes reduce the risk the economy could overheat – Outlook for US economy is very positive – Core inflation to hit 2% some time in 2018 We’ve heard this before from Williams.
ArticleBody Expectations for much from the Reserve Bank of Australia minutes are low I posted quick comments on what to expect (i.e. not much) from ANZ, Westpac and NAB yesterday
AUD/USD has not had much of a range – nothing has But, the AUD is on its session low I am gonna attribute the weakness to the RBA minutes (thoiugh if someone says more selling than buying I’ll concede that too 😀 )
The RBA minutes of the April monetary policy meeting are here The main thing that jumped out at me was the bank making clear their view could change. It always can, of course, but this time they said it explicitly. Cruious indeed I though.
People’s Bank of China injecting funds via the Medium term lending facility – 367.5bn yuan MLF – 1 year maturity – Rate 3.3% ( up 5 bps from March when the MLF was at 3.25%)
Reserve Bank of Australia April monetary policy board minutes Full text is linked below – these rapid headlines via Reuters These are very familiar themes from the RBA. I note, though:
Citing unnamed sources Says that the BOJ will likely maintain forecast that inflation will reach its 2% inflation target during the next fiscal year in next week’s meeting.