Bank of England ready to raise interest rate at December meeting

According to FOMC officials, the US central bank is actively monitoring inflation indicators and is ready to act decisively if consumer prices continue to rise. But Fed officials are confident that inflation remains under control and interest rates should not be expected to rise until the end of the QE program reduction.

Main from Fed member Harker: “If inflation doesn’t cool, the Fed may have to accelerate rate hikes; I expect inflation to moderate next year as supply chains reopen and problems go away; the federal funds rate will rise before the Fed’s bond-buying cuts are completed.”

Main from Fed member Evans: “We need to reduce inflation by about 2%; it is difficult to predict how long it will take for supply and demand conditions to normalize and bring inflation down; the Fed is on track to complete the asset purchase reduction by mid-2022; it is unknown how long it will take for inflation to come down.”

The main from Fed member Bowman: “Predicting inflation caused by supply chain disruptions and labor market weakness is the Fed’s biggest problem; the problem with higher inflation has a stronger impact on low- and middle-income people.”

Alphabet’s capitalization jumped to $2 trillion. Google’s parent company has the best performance among the “big tech” companies this year, and it’s rising by 70%.

Saudi Arabia also believes the next few weeks will be tight in the oil market, so its official selling price to Asia has been increased by $1.40 per barrel. Demand for jet fuel will rise as more governments remove restrictions on air travel.

Asia-Pacific stock markets are slightly down in Tuesday trading. Japan’s Nikkei 225 index decreased by 0.5%, Hong Kong’s Hang Seng decreased by 0.13%, and Australia’s ASX 200 lost 0.24%. At the same time, Shanghai Composite added 0.03%.

The value of Chinese real estate developer Evergrande increased by 0.4%. The company recently raised $145 million through the sale of shares in media company HengTen Networks Group Ltd and is on the eve of the next period of payments on dollar bonds now.