Must-Read: : Too Early to Think About a Rate Rise: “The situation changed over the last few months…
…It’s true we thought we could raise interest rates by the end of 2015, but turbulence on financial markets, modest global growth, energy prices and macro-prudential imbalances are slowing this process down…. [It is] still too early to think about raising interest rates…. For me there are some data that have greater importance… for example we need to see a bigger improvement in the U.S. labor market. We’ll have lots of data from now until the end of the year, so let’s see first what comes out and then we will decide…