[Federal Reserve Conference Minutes: This year is suitable for interest rate hikes, some officials support June interest rate hikes]
When discussing the prospect of monetary policy at the FOMC meeting in June, all participants continued to predict that in order to achieve the Fed's inflation goal, it was suitable for maintaining a restrictive monetary policy position.
The minutes show that almost all participants pointed out that in their economic forecasts, it is suitable for further raising the federal fund target interest rates during 2023.
When considering the decision -making decision last month, the minutes were exposed to some differences in the Fed.Most participants support the suspension of interest rate hikes in June, while a few participants agree with 25 basis points in June, or they may have supported this proposal.
Regarding the downlink risks of economic activities, the minutes of the meeting showed that at the June meeting, the Federal Reserve staff, like the first two meetings in March and May, is still expected to have a mild economic recession this year.
[Russia's June June oil and gas income drops more than a quarter]
Due to the decline in crude oil prices and the limited supply of natural gas in Europe, Russia has shrunk by more than a quarter of oil and gas income last month.The Russian Ministry of Finance stated that the budget revenue from oil and natural gas taxes in June decreased by 26%compared with the same period last year to about 529 billion rubles ($ 5.84 billion).Europe was the largest market for Russian natural gas giants. The decline in natural gas exports to Europe was the biggest reason for the decline in natural gas income.At present, natural gas export tax income has decreased by 86%to 30.1 billion rubles.
[European Central Bank Survey: Consumer inflation expectations continue to decline]
The results of the European Central Bank consumer survey showed that consumers' expectations for the euro area inflation continued to decline in May, which continued the trend of a sharp decline in the previous month; for European Central Bank officials, this would reduce stress on them.Consumers' expectations for the euro zone will fall from 4.1%in April to 3.9%in the next 12 months.However, the inflation expectations in the next three years remain at 2.5%, which is still higher than the European Central Bank's 2%goal.
Earlier data showed that the overall CPI increase in the euro zone slowed down, mainly due to the decline in energy costs; and the focus of the decision maker's current attention, that is, the core inflation rate accelerated again.German Central Bank Governor Joachim
Nagel said earlier on Wednesday that although the European Central Bank has not reached the end of its tightening path, "it is not possible to answer the question of how much interest rate hikes need to raise interest rates."
