BANK OF ITALY’S VISCO: EZ DEFLATION RISK MUST NOT BE OVERLOOKED’
By Silvia Marchetti ROME (MaceNews) – The Bank of Italy governor Ignazio Visco warned on Friday “not to overlook” the risk of deflation in the eurozone even though current deflationary risks are lower than they were six months ago. “The probability of deflation is still very lower, however, the share of operators expecting an inflation […]
STATUS CHECK COMMENTARY – STOWING THE AMMO BEFORE ELECTION DAY
WASHINGTON (MaceNews) – The following is Thursday’s status check of developments in the U.S. that can influence economic, health and political outcomes. · Does anyone still care that House Speaker Nancy Pelosi and Treasury Secretary Stephen Mnuchin exchanged letters, each listing the deficiencies in the other’s position on pandemic relief. Suffice to say they’re far […]
ECB TEES UP DECEMBER EASING; LEAVES POLICY ON HOLD AT LATEST MEETING
–Lagarde Leaves Door Open to Earlier Eemergency Meeting If Needed –‘Very Attentive to Exchange Rates’ By Laurie Laird LONDON (MaceNews) – The European Central Bank Thursday pledged to “recalibrate” its monetary policy by the end of the year, but left the door open to an emergency consultation of its rate-setting body should the economic picture […]
FOMC APT TO STAND PAT FOR NOW, BUT FUTURE FISSURES EMERGING
By Steven K. Beckner (MaceNews) – The Federal Reserve is about to hold its second Federal Open Market Committee meeting under its new monetary policy framework amid strange and rapidly changing circumstances. No policy change is likely on Nov. 5. In other words, the FOMC will almost certainly leave the federal funds rate in the […]
ECB LEAVES POLICY UNCHANGED; SUGGESTS DECEMBER EASING
By Laurie Laird LONDON (MaceNews) – The European Central Bank made no changes to its monetary policy at its rate-setting meeting on Thursday, but suggested that a package of easing measures could come before year end. Unusually, the Governing Council’s opened its press release by acknowledging the perilous state of the eurozone economy: “In the […]
EURO-AREA ECONOMIC SENTIMENT STAGNATED IN OCTOBER
By Marco Babic ZURICH (MaceNews) – The recovery in economic sentiment for the euro-area economies which had been improving steadily since May stalled in October, according to the latest report Thursday from the European Commission. The Economic Sentiment Indicator (ESI) for countries sharing the euro was 90.9 in October, matching the level recorded in September, […]
BOJ KEEPS EASING POLICY STANCE, SEES RISKS SKEWED TO DOWNSIDE AMID PANDEMIC
By Max Sato (MaceNews) – The Bank of Japan has maintained its easing stance and cautiously optimistic outlook that the economy will recover part of the pandemic-triggered contraction in the next fiscal year and price inflation will edge up toward 1% in about two years. The BOJ board decided Thursday in an 8-to-1 vote to […]
STATUS CHECK – BRACED FOR A PRESIDENTIAL DEBATE – ABOUT FAMILY
WASHINGTON (MaceNews) – The following is Wednesday’s status check of developments in the U.S. that can influence economic, health and political outcomes. · The dearth of much actual news on the day before the final presidential debate was a challenge for news producers everywhere Wednesday. Barack Obama began campaigning on the ground for Joe Biden […]
FED’S BEIGE BK: AS-EXPECTED ‘SLIGHT TO MODEST’ EXPANSION
WASHINGTON (MaceNews) – The Federal Reserve’s latest Beige Book survey of economic activity through the 12 regional bank districts Wednesday found little evidence of any V-shaped recovery, instead seeing “slight to modest” improvements in most regions. Assembled by the St. Louis Fed, the survey prepared for the next Federal Open Market Committee meeting Nov. 4-5 […]
BOE’S RAMSDEN: UK DOESN’T NEED NEGATIVE RATES RIGHT NOW
—Hints Sub-Zero Rates Could Be Most Effective During Recovery By Laurie Laird LONDON (MaceNews) – The UK economy does not require sub-zero interest rates at present, according to a top central banker Wednesday, who added the negative borrowing rates have been most effective in other jurisdictions once a recovery is underway. “The time” for negative […]