Timiraos on FOMC - rate cuts postponed "for the foreseeable future", Powell the main event

• Wall Street Journal Fed insider Nick Timiraos on what's to come later today from the Fed

Citi says traders expect the biggest Fed-day move in the S&P 500 since 2023

• Bloomberg carry the report on the Federal Open Market Committee (FOMC) day today

Waiting for the PBOC CNY reference rate setting? None today, China is on holidays.

• China is out on holidays for Labour Day

RBNZ Deputy Governor Hawkesby says higher interest rates means cooling jobs market

• Adds that high inflation is still a key risk

RBNZ press conference imminent - live link

• Reserve Bank of New Zealand Financial Stability Report

Fed rate cuts in 2024? BlackRock's CIO predicts more monetary easing ahead

• BlackRock's chief investment officer on market reactions hinging on Powell

Former Dallas Fed president Kaplan's solution for inflation not about the Federal Reserve

• Kaplan spoke ahead of the Federal Open Market Committee (FOMC) meeting today

BoA on the FOMC meeting - more clarity on inflation is needed, in "want and see" mode

• Comfort with the pricing out of rate cuts this year

Japan’s currency authorities "have entered a new phase" in their handling of yen weakness

• Bank of Japan likely sunk around 5 trillion yen into Monday's intervention

Reserve Bank of New Zealand - risk of persistent inflation, rates restrictive for longer

• From the RBNZ's Financial Stability Report for May 2024

Goldman Sachs says yen trading volumes skyrocketed to nearly ten times normal on Monday

• GS says volumes were much larger than in previous intervention rounds

ECB's Villeroy: Confident of meeting inflation target by end of 2025

• Comments from Villeroy

ECB's Holzmann pushes for break after cutting in June

• The ECB hawk wants to wait and see after June

ECB's de Cos reaffirms the case for a June rate cut

• Remarks by ECB policymaker, Pablo Hernandez de Cos

Goldman Sachs do not see imminent Fed rate cuts, but stocks will rise regardless

• Goldman Sachs forecast a July and November rate cut from the FOMC

An IMF official says sees Japan as fully committed to flexible exchange rate regime

• IMF sites fundamentals (rate differentials) for weak yen

PBOC sets USD/ CNY central rate at 7.1063 (vs. estimate at 7.2459)

• PBOC CNY reference rate setting for the trading session ahead.

FOMC meet this week: "the most interesting news about this meeting will come on 22 May"

• Preview of the Federal Reserve Federal Open Market Committee (FOMC) meeting

PBOC is expected to set the USD/CNY reference rate at 7.2459 – Reuters estimate

• The PBoC is vigorously propping up the yuan

Fed rate cut forecast moved to July, from June: "Fed has simply run into a brick wall"

Japan's Kanda says need to take appropriate actions on FX

CBA moves its forecast for an RBA rate cut to November (from September)

• Commonwealth Bank of Australia is one of Australia's 'big four' banks

How to confirm Japanese intervention in yen (TL;DR is wait until the end of May!)

• Official forex market intervention data will be released by the Ministry of Finance at the end of May

ICYMI - ECB's Knot increasingly confident on falling inflation, June rate cut realistic

• Head of the Dutch central bank, Klaas Knot, spoke with the Nikkei.

UBS on the yen: "Looks like intervention", if it was its unlikely to have a lasting impact

• The intervention question - did they or didn't they?