Archive

China CPI 0.3% y-o-y (consensus 0.2%) in Apr-24

- China's April 2024 CPI exceeded market expectations, growing by 0.3% year-on-year, suggesting sustained inflationary pressures.
- It is reassuring to see the CPI's current growth breaking above the one-year average, helping to end the excessively disinflationary trend.

Canada Unemployment Rate 6.1% (consensus 6.2%) in Apr-24

- Canada's unemployment rate remained steady at 6.1% in Apr-24, contrary to consensus expectations for another rise to 6.2%.
- The unemployment rate has been trending higher over the past year, but the employment level surged by 90.4k in April.

Norway CPI Inflation 3.6% y-o-y (consensus 3.5%) in Apr-24

- Norway's CPI inflation slowed from 3.9% to 3.6% year-on-year in April 2024, slightly surpassing market expectations of 3.5%.
- Upside news in core inflation drove the disappointingly small decline as, at 4.4%, it was also 0.1pp higher than expected.

Bowman - Financial Stability Risks: Resiliency and the Role of Regulators

In her speech on financial stability and the role of banking regulators, Michelle Bowman emphasizes the importance of financial stability and the role of the Federal Reserve in promoting it. She discusses the Federal Reserve's financial stability monitoring and how it complements the regulation and supervision of banks. Bowman highlights the effectiveness of bank supervision in mitigating vulnerabilities, using the example of commercial real estate lending. She also emphasizes the need for regulation to carefully consider its impact on financial stability and warns against driving risk out of the regulated banking system. Lastly, she acknowledges the limits of regulatory authorities and the need to be mindful of them, even in times of significant stress.


Positivity Score: 75
Uncertainty Score: 55