Is this email difficult to read? View it in a web browser. ›
The Wall Street Journal Pro The Wall Street Journal Pro
Central Banking Pro Central Banking Pro
 
Fed’s Miran Says Four Cuts Are Appropriate This Year

  • Federal Reserve governor Stephen Miran said the Fed should cut interest rates by about a percentage point this year.
  • Miran stated he has not seen anything in private credit to cause macroeconomic concern.
  • Miran expects artificial intelligence to destroy some jobs while also creating new job categories.

 
China Moves to Tame Yuan Rally by Slashing Shorting Costs

  • The People’s Bank of China cut the risk reserve ratio for financial institutions’ foreign-exchange forward trading to zero from 20%, effective March 2.
  • The central bank’s move makes purchasing the dollar cheaper, following the yuan’s recent nearly three-year high against the greenback.
  • The People’s Bank of China aims to keep the yuan’s exchange rate stable and has adjusted the requirement ratio several times.
U.S. Jobless Claims Rose Last Week

  • Initial unemployment claims rose to 212,000 in the week through Feb. 21, up from 208,000 a week earlier, the Labor Department said.
  • Continuing unemployment claims fell to 1.83 million in the week through Feb. 14, down from 1.86 million a week earlier.
  • A recent consumer confidence survey showed improving perceptions of employment conditions, with the labor market differential ticking up.
Mortgage Rates Fall Below 6% for the First Time Since 2022

  • The average 30-year fixed mortgage rate fell to 5.98% this week, the lowest level since September 2022.
  • Cooling inflation, economic uncertainty and Federal Reserve rate cuts contributed to the decline in mortgage rates.
  • Economists generally do not forecast further rate declines this year, expecting current levels to hold.
Canada Steadfast in Avoiding Travel to U.S., Buying More Domestic Goods

  • Bank of Canada research indicates President Trump’s trade policy has significantly increased Canadian spending on domestic products and local tourism.
  • Trips by Canadians to the U.S. fell by 25% in 2025, the largest year-over-year decline ever recorded excluding the pandemic.
  • Since March 2025, Canadian households shifted food spending from U.S. products to domestic ones, a modest but visible change.
 

About Us

WSJ Pro Central Banking brings you news and analysis from a global team of reporters and editors at The Wall Street Journal and Dow Jones Newswires. Send your tips, suggestions and feedback to service@dowjones.com. An artificial-intelligence tool created these summaries, which are based on the text of the article and checked by an editor. Read more about how we use artificial intelligence in our journalism.
 
Desktop, tablet and mobile. Desktop, tablet and mobile. Access WSJ‌.com and our mobile apps. Subscribe