President Joe Biden wants to make the child tax credit included in his $1.9 trillion coronavirus relief program permanent, White House press secretary Jen Psaki told reporters on Tuesday.
Australian three-year bond futures dipped to a one-week low on Monday, implying yields of nearly 0.3%, as investors feared a stellar economic recovery would rekindle inflation and spur interest rate hikes.
Bank of England Governor Andrew Bailey said he was more optimistic about the economy, "with a large dose of caution," and a recent rise in interest rates in financial markets was consistent with the prospects of recovery from the COVID slump.
By Reuters Staff
1 Min Read
SHANGHAI, March 15 (Reuters) - China’s central bank on Monday injected medium-term loans into the banking system while keeping the interest rate unchanged for an 11th straight month.
The People’s Bank of China (PBOC) said in a statement it was keeping the rate on 100 billion yuan ($15.37 billion) worth of one-year medium-term lending facility (MLF) loans to financial institutions steady at 2.95% from previous operations.
The PBOC also said the operation was a rollover of the same amount of maturing MLF loans due on Tuesday.
It added that it has injected another 10 billion yuan worth of seven-day reverse repos into the banking system.
By Reuters Staff
1 Min Read
FILE PHOTO: Cecilia Rouse arrives to be sworn in as the new chair of the Council of Economic Advisers by U.S. Vice President Kamala Harris in the Eisenhower Executive Office Building at the White House in Washington, U.S., March 12, 2021. REUTERS/Erin Scott
WASHINGTON (Reuters) - There is a small risk of inflation following the $1.9 trillion COVID-19 stimulus plan, but the Biden administration will closely monitor the situation, White House Council of Economic Advisers Chairwoman Cecilia Rouse said on Monday.
“Any economic investment is going to have some risks,” she told MSNBC, adding that the larger risk is not doing enough to help the economy. “Yes, there is a small risk of inflation. We will be watching. We will be monitoring.”