According to Wu, the monetary policy dynamics of global central banks last week: the Bank of Australia and the Bank of England kept interest rates unchanged, and the Swiss National Bank cut interest rates as expected. The overall attitude of Fed officials in their speeches was conservative. Harker, a 2024 FOMC voter and chairman of the Philadelphia Fed, believes that a rate cut is appropriate. The Reserve Bank of Australia remains vigilant about the upward risk of inflation. Barkin, chairman of the Richmond Fed, said that interest rates can only be cut after the inflation path is further clarified. Fed Governor Kugler believes that it is appropriate to cut interest rates later this year. The Swiss National Bank cut interest rates by 25 basis points as expected, lowering the benchmark interest rate from 1.5% to 1.25%.
This week, we will focus on the core PCE inflation index, which is the most favored by the Federal Reserve, and the Federal Reserve's release of the annual bank stress test results. In particular, the Federal Reserve announced the annual bank stress test results on June 27, and the annual rate of the US core PCE price index in May on June 28.
