BoE’s BAILEY REAFFIRMS FORECAST OF A ROBUST RECOVERY DESPITE SHARP Q1 CONTRACTION
By Laurie Laird LONDON (MaceNews) – Bank of England Governor Andrew Bailey Wednesday downplayed a sharp downturn in UK economic output, standing by the central bank’s forecast of a robust recovery toward the latter part of 2020. Bailey told ITV’s Robert Peston programme that he was “not surprised” by the 2.0% quarterly contraction in first […]
FED’S POWELL WARNS OF DANGERS OF LONG SHALLOW RECOVERY
–Emergency Aid So Far May Be Only the Beginning –‘Recovery May Take Some Time to Gather Momentum’ — ‘Additional Fiscal Support Could Be Costly’ –Negative Rates ‘Not Something That We’re Looking At.” By Denny Gulino WASHINGTON (MaceNews) – The battle of recovery narratives – swift and sharp versus shallow and long – Wednesday saw one […]
DATA FLASH: US APRIL PPI FALLS 1.3% ON ENERGY; Y/Y RATE TURNS NEGATIVE
-Prices Ex. Food/Energy -0.3%; Down 0.9% Ex-Trade Services as Well-Energy Prices Drop 19.0% on a 56.6% Plunge in Gasoline Prices By Kevin Kastner WASHINGTON (MaceNews) – Wholesale prices declined more than expected in April, led by energy prices again, the Labor Department reported Wednesday. The inflation data are all moving in the same downward direction, […]