BANK OF ENGLAND’S BAILEY SEES HIGHER STRUCTURAL UNEMPLOYMENT POST-COVID

By Laurie Laird LONDON (MaceNews) – The Bank of England warned of lingering consumer caution and a rise in structural unemployment in the wake of the Covid crisis, even as recent economic data suggest that the UK economy has been less badly hit than feared.  “I do wonder whether a shock if this size will […]

DATA FLASH: MAY EXISTING HOME SALES LIKELY HIT BOTTOM

By Kevin Kastner WASHINGTON (MaceNews) – Existing home sales fell for the third straight month in May, but the current month’s data reflects contract signings in March and April at the worst points of the shutdown. It is expected that this may be the bottom for home resales. National Association of Realtors Chief Economist Lawrence […]

BANK OF CANADA’S MACKLEM: NOT CONSIDERING NEGATIVE INTEREST RATES; OUTLOOK UNCERTAIN

NEW YORK (MaceNews) -The Bank of Canada is not considering negative interest rates and now sees its asset purchase program having a stimulative effect, Bank of Canada Governor Tiff Macklem said Monday. Macklem, in remarks prepared for delivery during an online event, said the bank expects quick job gains as the economy reopens, but growth […]