Ex-BOJ’s Momma Sees BOJ Cautious About Rate Hike Timing amid Slow Services Price Rise; Not in Position to Act on Weak Yen
–Momma Expects BOJ Rate Hikes in September, January but Warns of Economic Uncertainty–Momma Estimates BOJ’s Own Measure of Underlying Inflation at 1.5%, Still Below 2% Target–Momma: Central Banks Alone Cannot Anchor Inflation; Need Fiscal, Tax Policy Backup for Wealth Redistribution By Max Sato TOKYO (MaceNews) – The Bank of Japan will remain cautious about following […]
Japan June Export Rise Led by Chip-Making Equipment, Non-Ferrous Metals on Recovering Chinese Demand; Trade Balance Posts 1st Surplus in 3 Months
–Imports Up on Strong Demand for Computers, Engines, Smartphones–Exports to China Post 7th Straight Y/Y Rise Following Last Year’s Slump–Exports to US Remain Robust; Those to EU Mark 3rd Straight Y/Y Slip By Max Sato (MaceNews) –Japanese export values rose 5.4% for the seventh straight year-over-year increase in June, led by solid demand for semiconductor-making […]
Fed’s Waller: Rate Cuts ‘Getting Closer’ But Need ‘More Evidence’ of Disinflation
– Timing of Rate Cuts Depends on How Favorable Inflation Data Look – More Focused on Risks to Employment Side of Fed Dual Mandate By Steven K. Beckner (MaceNews) – Federal Reserve Governor Christopher Waller said Wednesday he believes the Fed is “getting closer” to cutting short-term interest rates, but said he still wants to […]
Preview: Gradual Easing in Inflation, Softer Economic Climate Raise Odds of Bank of Canada Rate Cut Next Week
By Max Sato (MaceNews) – Sticky but easing inflation, rising unemployment and slower growth prospects have raised the possibility that the Bank of Canada’s policymakers will lower the short-term interest rate target next week, following up on their initial rate cut last month. The CPI report for June released Tuesday showed the annual inflation rate […]
BofA Global Research Fund Manager Survey: Expected Fed Rate Cuts Drive Bulls
–Geopolitics Number One ‘Tail Risk’ –U.S. Yields, Dollar Higher On ‘Clean Sweep’ Expected for Republicans in November By Vicki Schmelzer NEW YORK (MaceNews) – World investors were bullish in July, with sentiment fueled by Federal Reserve rate cuts expected this year and into 2025, according to BofA Global Research’s monthly fund manager survey, released Wednesday. […]
Bank of Canada Q2 Survey: Business Outlook Remains Pessimistic amid Weak Demand, High Interest Rates, Leading to Slower Capex
Bank of Canada survey shows inflation expectations down
Japan May Core Machine Orders Unexpectedly Post 2nd Straight Monthly Drop on Pullback in Computers but Digitization Demand Remains Strong
Japanese capex pulls back
Japan June Producer Prices Up 2.9% Y/Y As Expected After Upwardly Revised 2.6% Rise in May on Higher Renewable Energy Charge, Halved Utility Subsidies, Rising Commodity Markets
Japanese producer price inflation rises
Fed’s Powell: FOMC Must Focus on Protecting Jobs – Not Just 2% Inflation
Fed’s Powell sounds more concerned about slowing economy
Japan May Household Spending Unexpectedly Slumps as Consumers Shy Away from Soaring Fresh Food Prices, Weaker Yen Dents Overseas Travel Demand
Japanese household spending slumps