(Bloomberg) -- Thailand’s central bank wants the new government led by Srettha Thavisin to pursue fiscal consolidation in tandem with monetary policy to avoid fueling inflation in the economy.Most Read from BloombergNYC’s Most Exciting New Fine Dining Restaurant Is in a Subway StationNasdaq 100 Drops 2% as Yields Rise Before Powell: Markets WrapMore People Call in Sick on August 24 Than Any Other DayWagner Chief Prigozhin Listed Aboard Crashed Jet, Reports SayBRICS Bloc Grows Heft With Saudi Ara
Central bankers from around the world are gathering in Jackson Hole, Wyoming, for the Federal Reserve Bank of Kansas City’s annual two-day gathering. Investors will parse everything out of the symposium for clues on the outlook for interest rates, which the Fed in July lifted to a range of 5.25% to 5.5%, the highest level in 22 years.
“The important thing on policy front, both on monetary and fiscal sides is to try to normalize the policies and get some more consolidation,” he said in an interview with Bloomberg Television’s Haslinda Amin.European Central Bank Governing Council member Joachim Nagel said that he’s not convinced inflation is under control enough for a halt in interest rate hikes, with his decision hinging on additional data in the coming weeks.
Nagel said he doesn’t expect Europe’s biggest economy to fall into a recession, citing a better outlook for next year despite a weak third quarter. “I do think it’s extremely likely that we will need to hold for a substantial amount of time but exactly where the peak is, I would not signal right at this point,” she said. “We may be near but we made we may need to increase a little bit further,” said Collins, who doesn’t vote on policy this year.ECB Governing Council member Mario Centeno said officials should be cautious in deciding on the next steps as risks for the economy that have previously been identified are now becoming reality.
“Right now, I think that we’ve probably done enough because we have two things going on,” he said in an interview with CNBC. “The Fed funds rate increases — they are at a restrictive level, so let’s keep them there for a while. And also we are continuing to shrink our balance sheet that is also removing accommodation.”
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