They say every top central banker faces a "test," and this may be it for Federal Reserve Chair Janet Yellen.
The Bank of Canada is hoping the average Canadian continues to do the heavy lifting for the economy and gets it out of its rut from the first half of the year, even with dangerously high household debt levels. That may be a big ask.
British workers have hit a sweet spot with wages rising much faster than near-zero inflation, suggesting the economy could gain further momentum as consumers spend their spare cash.
For all its single-minded focus on lowering inflation, India's central bank may be forced to acknowledge slowing growth in Asia's third largest economy by cutting interest rates -- probably faster than it expected.
Financial markets have all but shut the door to a Federal Reserve rate hike in September, following a rout in stocks, currencies and commodities this past week, but economy watchers are only now warming up to the idea -- in public at least.
from Morning Bid with David Gaffen:
The July meeting was never meant to be much of a thing with the Federal Reserve, and that’s exactly how it’s worked out. The Fed seems like it is still targeting a modest increase in rates in September, with – as many strategists have already noted – the real action to come later on down the road, as Janet Yellen and others have argued that the first move isn’t the one to really worry about.