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Analysts: Non-farm payrolls data to be released next Friday may determine whether the Fed can cut interest rates as expected in September
2024-07-28 11:42
Odaily News Next week, the market will usher in a "super central bank week". The Bank of Japan, the Bank of England, and the Federal Reserve will announce interest rate decisions. These three central banks are likely to make or hint at major monetary policy decisions. At the same time, the Federal Reserve will announce its interest rate decision next Thursday, and the United States will also release the latest non-farm payrolls data on Friday. Due to the remarks of Federal Reserve Chairman Powell, this data may be the focus of whether the Federal Reserve can cut interest rates as expected in September. The Bureau of Economic Analysis of the U.S. Department of Commerce reported that the U.S. PCE price index rose only slightly by 0.1% month-on-month in June and rose by 2.5% year-on-year. The core PCE price index, which excludes volatile food and energy prices, rose by 0.2% month-on-month, slightly higher than the market forecast of 0.1%. Rubeela Farooqi, chief U.S. economist at High Frequency Economics, believes that "from the perspective of the Federal Reserve, we believe that the data shows enough progress, and inflation and labor market conditions are sufficient for policymakers to open the door to a September rate cut at the FOMC meeting next week." (Jinshi)