Price Stability News
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Federal Reserve Bank of Minneapolis President Narayana Kocherlakota said the Fed’s record stimulus hasn’t pushed down the real interest rate enough to meet its mandate to achieve price stability and full employment.
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Sales of U.S. dollar-denominated bonds in Asia outside Japan rose to the highest in more than a month this week as borrowing costs hovered close to record lows.
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Federal Reserve Governor Sarah Bloom Raskin said income inequality and government cutbacks may slow economic growth for years.
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Brazil runs no risk of stoking inflation even as the government tries to engineer a rebound in growth and investment, said Luciano Coutinho, president of BNDES, the nation’s development bank.
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The Swiss National Bank will maintain its cap on the franc as long as necessary to ward off deflation and doesn’t consider creating a sovereign wealth fund for its currency reserves “sensible,” board member Fritz Zurbruegg told L’Hebdo.
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New Zealand will conduct an inquiry into residential construction in an effort to lower building costs and increase productivity and competition.
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What else is the Fed watching? What news and what sorts of numbers will convince its members that they can withdraw stimulus -- or that they need to extend or even boost their injections?
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The following is the text of the European Central Bank’s May monthly bulletin:
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The Federal Reserve has learned how to lessen economic slumps as it turns 100 years old.
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The European Central Bank said low inflation in the 17-nation euro area allowed policy makers to cut interest rates last week, as economists lowered forecasts for consumer prices and economic growth.
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