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Investing.com – , , and positive Wednesday driven by overnight buying on Wall Street, where the the gained 1.7% and the S&P 500 1.2% on solid macro data released yesterday afternoon as orders of durable goods and the consumer confidence index rose to an 18-month high.
After yesterday’s speech by ECB President Lagarde in which another rate hike was confirmed in July, with discussion also for September, an important panel will be held during the day at the ECB Forum in Sintra which will involve the governors of the main central banks .
Lagarde, Fed Chairman Jerome Powell, Bank of Japan’s Kazuo Ueda and Bank of England’s Andrew Bailey will all sit at the same table to discuss monetary policy and the future of the economy.
All three banks, with the exception of Tokyo, are at the center of the debate on whether or not rates will peak, after more than a year and a half of consecutive hikes. The Fed decided on a stop-and-go in June, but in all likelihood and as Powell himself stated a few days ago, the same thing will not happen in July.
“Probably the peak rates of central banks have not yet been reached, both in the US and in Europe, given the declarations of the two presidents. But they are certainly closer than they were only last January. It is therefore logical to ask what can happen in six months where, presumably, the peak in interest rates will be behind us”, writes Antonio Tognoli of CFO Sim on Inveting.com.
Speaking of the ECB, last night’s CDM approved the proposal by Prime Ministers Meloni to appoint the member of the ECB executive committee Fabio Panetta as the new governor of Bank of Italy starting next November 1, i.e. after the natural expiry of Ignazio Visco’s double mandate .
“Panetta is a character who enjoys solid esteem and broad credibility, due to his preparation and ability, not only at the Italian level, but also in the European and international arena, where he is considered one of the main experts in banking and finance. He has a respectable curriculum, a training not only as an economist and an uncommon institutional experience.Very important aspects for the progress of the functions of the Institute of governance of the Italian financial system which cannot fail to have a prestigious future in the interest of the Italy, but also of the European System of Central Banks itself, as well as of the Union”, he writes on Investing.com Fabrizio Barini di Integrae Sim.
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