Federal Reserve Governor Stephen Miran resigned from his position on the policy board "effective upon or shortly before the swearing in" of the chairman-designate Kevin Warsh. President Donald Trump nominated Miran as a member of the Board of Governors in September last year after Adriana Kugler stepped down. His term ended on January 31.
The European Central Bank may opt for an interest rate hike if the sustained rise in crude oil price raise energy costs and inflation expectations substantially, ECB Governing Council member and Bank of Latvia chief Martins Kazaks said on Thursday.
The European Central Bank left its interest rates unchanged on Thursday, as expected, even as policymakers expressed increasing concern over the impact of the surging energy prices and the intensifying war in the Middle East.
Euro area consumers' inflation expectations for the one year ahead and those for the three-year horizon surged in March as crude oil price continue to rise due to the ongoing conflict in the Middle East, results of a monthly survey by the European Central Bank showed on Tuesday.
Small business morale in the U.S. sunk in March as the conflict in the Middle East led to a surge in oil prices that raised cost concern for consumers and businesses, results of a survey by the National Federation of Independent Business showed on Tuesday.
The European Central Bank left its key interest rates unchanged on Thursday, as expected, for a sixth policy session in a row amid the significant uncertainty caused by the war in the Middle East and raised the inflation forecasts for euro area as policymakers remain concerned about the impact of surging crude oil price, and expressed their readiness to act if needed.