The European Central Bank must keeping interest rates restrictive for as long as is necessary to return inflation to target, according to Governing Council member Gediminas Simkus.
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ECB Not Yet at Inflation Target, More Work to Be Done, Lane SaysThe European Central Bank can’t relent in its fight to tame inflation, according to Chief Economist Philip Lane.
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Guindos Says Current ECB Rate to Help Reach Inflation TargetEuropean Central Bank interest rates at their current levels will help bring euro-area inflation to the 2% target, according to Vice President Luis de Guindos.
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Fed's Bowman: Expects it to be appropriate to raise rates furtherBowman, in prepared remarks to a banking conference, said inflation remains too high and expects progress in lowering it to be slow 'given the current level of monetary policy restraint.' 'I remain willing to support raising the federal funds rate at a future meeting if the incoming data indicates that progress on inflation has stalled or is too slow to bring inflation to 2% in a timely way,' Bowman said. Energy prices also pose a renewed risk to inflation, she said, noting that the latest measure published on Friday of the Fed's preferred inflation gauge - the personal consumption expenditures price index (PCE) for August - showed that overall inflation rose, in part due to higher oil prices.
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Fed's Bowman cautions rising energy prices could stall inflation progress, calls for higher ratesShe said she thinks progress on inflation is likely to be slow given the current level of interest rates and said that suggests the Fed will need to further hike rates to bring inflation down in a sustainable and timely manner.
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Kenya Is Expected to Hold Rates With Eye on Inflation, CurrencyKenya is expected to follow other emerging market central banks that have kept borrowing costs steady over the last few weeks as inflationary pressures mount and they weigh risks to their currencies.
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