Japan Keeps Its View on Economic Recovery After Ruling Coalition Loses Majority in Lower House Election; BOJ’s Stance of Gradually Raising Rates Seen Intact
By Max Sato (MaceNews) – Japan’s government maintained its overall assessment that the economy’s “modest recovery” is set to continue after the ruling coalition lost a majority in the Lower House election Sunday, setting the stage for a tight race to elect the prime minister between the conservative Liberal Democratic Party and the main opposition […]
Bank of Canada Cuts Policy Rate by 50 Basis Points to 3.75% on Easing Inflation, Cooling Economy as Expected, Leaves Door Open for More Cuts
–BoC Repeats: Will Take Policy Decisions One Meeting at a Time –Governor Macklem: We Are Now Equally Concerned About Inflation Coming in Higher or Lower Than Expected –Macklem: Now Our Focus Is To Maintain Low, Stable Inflation; Need To Keep Inflation Where It Is By Max Sato (MaceNews) – The Bank of Canada on Wednesday […]
Fed Officials Taking Patient, Measured Approach to Further Rate Cuts
By Steven K. Beckner (MaceNews) – After getting off to an aggressive, though belated, start on monetary easing, Federal Reserve officials seem inclined to take a more measured approach going forward. Policymakers who have spoken over the past week or so have expressed a clear willingness to cut the federal funds rate further from what […]
BofA Global Research Fund Manager Survey: Global Investors More Bullish on Equities as Growth Expectations Improve
–Largest Jump in Global Equity Allocation Since June 2020 By Vicki Schmelzer NEW YORK (MaceNews) – Global investors became more bullish toward equities in October, driven by an improved outlook for world growth, according to BofA Global Research’s monthly fund manager survey released Tuesday. Positive views about the U.S. and Chinese economies fueled this change […]
ISM: US Services Sector Expands for 3rd Straight Month in September on Solid Output, New Orders
–ISM Services Index at 54.9 Vs. 51.5 in August, Well Above Median Forecast 51.5 –ISM’s Miller: Slowe Employment Follows Some Active Hiring in Summer –Miller: Inflationary Trend Moderating Despite Uptick in September –Fed Rate Cuts to Underpin Sector Toward Yearend, Port Strikes Wild Card By Max Sato (MaceNews) – Business activity in the U.S. services […]
Japan’s New PM Ishiba Forms Stability First Cabinet, Seeks Smooth Ties with Central Bank
By Max Sato (MaceNews) – Prime Minister Shigeru Ishiba is seeking to establish close coordination with Bank of Japan policymakers as he was sworn in on Tuesday with an aging, male-dominated cabinet that still symbolizes stability among a largely conservative voting population. Hailing from a political family, Ishiba, 67, vowed to provide a sense of […]
US September ISM Manufacturing in Contraction for 6th Straight Month as Uncertainty over Fed Rate Policy, Election Weighs on Investment, Demand
–ISM Manufacturing Index Flat at 47.2, Just Under Median Forecast of 47.6 –ISM’s Fiore: October Report to Show Hurricane Helen’s Full Impact on Supply Chains, Output –Fiore: Fed’s As-Expected September Rate Cut Likely to Aid New Orders in Early 2025 –Fiore: Whichever Party Wins, US Pressure on China to Continue on Trade Front By Max […]