Compiled by: GaryMa Wu Blockchain
Summary
Wu Blockchain's weekly macroeconomic indicators and analysis: Last week, the Federal Reserve and Bank of Japan both maintained unchanged interest rates; this week, the focus will be on Powell's testimony on the semi-annual monetary policy report and the US May core PCE.
Last Week Review
Key Events & Indicators This Week
June 24
June 25
June 26
June 27
Summary
Wu Blockchain's weekly macroeconomic indicators and analysis: Last week, the Federal Reserve and Bank of Japan both maintained unchanged interest rates; this week, the focus will be on Powell's testimony on the semi-annual monetary policy report and the US May core PCE.
Last Week Review
- The Federal Reserve announced an interest rate decision (upper limit) of 4.50%, in line with the expected 4.50%, previous value 4.50%.
- The Bank of Japan maintained its policy rate at 0.5%, in line with market expectations, marking its third consecutive unchanged rate.
- US initial jobless claims for the week ending June 14 were 245,000, expected 245,000, with the previous value revised from 248,000 to 250,000.
- The Swiss National Bank announced a 25 basis point rate cut to zero, ending Switzerland's positive interest rate era of over two and a half years and setting the lowest benchmark rate among major central banks.
- The Bank of England maintained its 4.25% interest rate, in line with market expectations. From the Bank of England's rate adjustment pace since 2025, it announced a 25 basis point rate cut in February, initiating the first cut this year, paused in March, and cut rates by 25 basis points again in May.
- Bank of Japan Governor Kazuo Ueda spoke at the Trust Association's annual meeting: rates will be raised if economic outlook is realized. He also mentioned that Japan's real interest rates are significantly low.
Key Events & Indicators This Week
June 24
- Federal Reserve Chair Powell to deliver semi-annual monetary policy report testimony to the House Financial Services Committee (22:00)
June 25
- Federal Reserve Chair Powell to testify on semi-annual monetary policy report to Senate Committee (22:00)
- Bank of Japan to publish summary of monetary policy meeting committee opinions (07:50)
June 26
- US initial jobless claims for the week ending June 21 (20:30)
- US Q1 Real GDP Annualized Quarter-on-Quarter Final Value (20:30)
- US Q1 Core PCE Price Index Annualized Quarter-on-Quarter Final Value (20:30)
June 27
- US May Core PCE Price Index Year-on-Year (20:30)
- US June University of Michigan Consumer Confidence Index Final Value (22:00)
