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[Fed and ECB Meeting Minutes to Be Released Next Week, Highlighting Inflation Concerns] Jin10 News, October 4 – Influenced by weak U.S. non-farm payroll data and severe turbulence in the French financial markets, the urgency for Federal Reserve and European Central Bank policymakers to follow up on September's rate hikes during their respective meetings this month has diminished. Both central banks will release the minutes of last month's meetings in the coming days. At their meetings last month, they raised interest rates due to concerns over rising inflationary pressures. The Fed's September meeting minutes are likely to reveal that many policymakers were deeply worried about potential price trends at the time and anticipated at least one more rate hike before the end of the year. However, Friday's non-farm payroll data showed job growth falling short of expectations and weak wage growth, further indicating that the labor market is not contributing to existing inflationary pressures. Earlier this week, the government's revision of the PCE data showed that inflation this year has been slightly lower than previously estimated. Economists believe the threshold for an October rate hike is now very high. Even if the meeting minutes remind markets of the hawkish stance officials displayed in September, subsequent data has strengthened the case for patience. While inflation in the services sector may keep the option of a December rate hike on the table, the Fed will likely need clearer evidence of a resurgence in price pressures before proceeding with another rate increase.