Central bank heads move markets, defend their inflation-fighting strategies

Blockworks
Blockworks

28 Jun 2023 3:30 PM

Central bank leaders from around the world gathered at the European Central Bank policy forum in Portugal to talk monetary policy strategies....

  • Global bank leaders gathered at the European Central Bank policy forum to discuss their current monetary policy strategies.
  • Federal Reserve Chair Jerome Powell, Bank of England Governor Andrew Bailey, ECB President Christine Lagarde, and Bank of Japan Governor Kazuo Ueda participated in the discussion.
  • Bitcoin and ether experienced slight losses during the panel discussion, while the S&P 500 and Nasdaq Composite had mixed performance.
  • Powell mentioned the possibility of additional rate hikes in the US, depending on the labor market and inflation.
  • The leaders agreed that a recession is unlikely but emphasized the importance of monitoring inflation.
  • Lagarde mentioned global factors such as the war in Ukraine and civil unrest in Russia, which could impact inflation.
  • Lagarde expressed optimism about the ECB's approach to digital currencies, particularly the legislative draft for the digital Euro.

The overall sentiment of the article is neutral. It provides information about the discussions among global bank leaders and their perspectives on the economy, inflation, and the possibility of a recession.

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You May Ask

Who were the central bank leaders participating in the panel discussion?What were the performance trends of Bitcoin, ether, S&P 500, and Nasdaq Composite during the discussion?What factors did Powell mention as potential triggers for additional rate hikes in the US?What did Lagarde mention as global factors that could impact inflation?What is Lagarde optimistic about regarding the ECB's approach to digital currencies?

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