ECB Sintra Forum Live: Fed Chair Powell and other central bankers discuss policy
ECB central banking forum in Sintra, Portugal
Fed chair Jerome Powell and other central bank heads are speaking
Uncertainty dominates the forum
ECB unveiled update to five-year strategy on Monday
It expects more volatile inflation
Investors are shifting focus to Europe from U.S.
South Korean central bank is keeping eye on financial stability risks
4 minutes ago
10:23 EDT
Balazs Koranyi and Francesco Canepa
South Korea's central bank remains in a monetary easing cycle but is watching out for risks to financial stability amid rising house prices, he said on Tuesday.
When asked about the dollar's value, Bank of Korea's Rhee said the South Korean currency's appreciation against the greenback in the last two months was mostly a reversal of declines caused by domestic political uncertainty.
Powell receives applause for saying he shakes off Trump attacks
6 minutes ago
10:21 EDT
Ann Saphir and Rajaa Bint Talal
Powell received an applause from the audience and from his colleagues on the stage when saying he is focused on his job in response to Trump's personal attacks.
'I'm very focused on just doing my job. The things that matter are using our tools to achieve the goals that congress has given us, maximum employment, price stability, financial stability. And that's what we focus on, 100%,' Powell said.
The Fed and Powell have endured a barrage of pressure from Trump to cut rates and the president has mused about picking a replacement for Powell soon - well ahead of the expiration of the chair's term in May 2026.
17 minutes ago
10:10 EDT
Francesco Canepa
The euro's recent appreciation against the dollar doesn't just reflect market conditions but also the strength of the euro zone's economy, Lagarde said.
"It's a reflection of the market conditions and assessment," Lagarde added.
"It's also a reflection of the strength of our economy."
BOJ's Ueda says underlying inflation still below 2%
23 minutes ago
10:04 EDT
Balazs Koranyi and Francesco Canepa
FILE PHOTO: Ueda attends a press conference in Tokyo, Japan June 17, 2025. REUTERS/Issei Kato
Bank of Japan Governor Kazuo Ueda said on Tuesday the country's underlying inflation was still "somewhat below" the central bank's 2% target.
He also said the range of the BOJ's estimate on the neutral rate was "very large," though the bank's current policy rate was "below neutral."
BoE's Bailey says policy remains restrictive
32 minutes ago
09:55 EDT
He added that he expected the restrictiveness to come down.
Powell also said policy was modestly restrictive.
What to know about Andrew Bailey
41 minutes ago
09:46 EDT
Kylie MacLellan
Andrew Bailey is the Governor of the Bank of England.
He began his 8-year term on March 16, 2020, succeeding Mark Carney.
Bailey is the Bank's 121st Governor in its 325-year history.
He joined the BoE in 1985 and has been a member of the Bank's Financial Policy Committee since 2012.
He was previously Chief Executive Officer of the Financial Conduct Authority.
41 minutes ago
09:46 EDT
BoE governor Andrew Bailey said there were signs of softening in the economy and the labour market. The direction of rates continues to be downwards, he added.
Bank of Korea's Rhee says tariffs tend to be deflationary
44 minutes ago
09:43 EDT
The bank is keeping an eye on financial stability risk in deciding about further cuts, he said.
What to know about Bank of Korea Governor Rhee Chang-yong
an hour ago
09:40 EDT
Cynthia Kim and Rajaa Bint Talal
The 65-year-old economist was appointed Bank of Korea Governor in 2022.
He was widely expected to continue the bank's efforts to curb inflation with interest rate hikes.
Rhee came to the post after eight years at the International Monetary Fund where he served as director of the Asia and Pacific Department.
Prior to that he was Chief Economist at the Asian Development Bank from 2011 to 2014.
During his tenure as governor, Rhee has addressed issues related to rising inflation, fluctuation of unemployment rates, the depreciation of the won currency, and high interest rates.
Six months of political turmoil in South Korea which culminated in a June 3 snap election saw the won weaken.
Rhee said in May the BOK would likely have to cut the growth forecast and lower lending rates to boost the economy.
The governor is three years into his four-year term.
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