This from the FT’s US economics editor Robin Harding in Washington and Michael Mackenzie in New York:
The US Federal Reserve predicted that interest rates will stay on hold at least through late 2014 in a dramatic extension to the period for which it expects to keep rates low.
Peter Praet. Image by Getty.
Peter Praet, the European Central Bank executive board member who took over responsibility for its economics department earlier this month, chose – probably wisely – a German newspaper for his debut interview.
Talking to the Frankfurter Allgemeine Zeitung, the German-born Belgian sounds tough – but does not actually explicitly rule out much in terms of possible policy actions. To that extent he looks entirely in step with Mario Draghi, the ECB president. Read more
The new FOMC interest rate forecasts will be released today with the Fed’s Summary of Economic Projections at 2pm. A lot of the commentary suggests that the forecasts of the first rate rise will be heavily clustered in 2014. These are illustrative examples from Credit Suisse: Read more
Beatrice Weder di Mauro, member of Germany’s council of economic experts, has emerged as a possible candidate to join the board of the Swiss National Bank, following the resignation of Philipp Hildebrand .
In Davos, Switzerland, today, she refused to comment on rumours about her future, reports Bloomberg. Read more
Davos is not as important an event on the calendars of central bankers as the IMF/World Bank meetings or the Bank for International Settlements Annual General Meeting. Neither the Bank of England nor the Federal Reserve will be bothering to send anyone, for instance.
But there are still plenty of Davos men (and one woman) among the senior ranks of the profession. Read more