BOC’S MACKLEM REPEATS: QE TO STAY UNTIL RECOVERY WELL UNDER WAY, TO CALIBRATE AS NEEDED
NEW YORK (MaceNews) – Bank of Canada Governor Tiff Macklem repeated Thursday the bank will keep its extraordinary monetary policy measures in place, and will calibrate its asset purchases as needed to support the recovery and meet its inflation target. Echoing language from the bank’s Wednesday policy announcement when policy-makers kept rates on hold, Macklem […]
ECB ‘MONITORING’ EURO STRENGTH; UPGRADES 2020 GDP FORECAST
— Rate on Hold After Latest Governing Council Meeting By Laurie Laird LONDON (MaceNews) – The European Central Bank discussed the recent appreciation of the single currency at its latest governing council meeting, but declined to specify the risks of sustained euro strength to the nascent economic recovery. The governing council made a rare passing […]
TEXT: ECB POLICY STATEMENT
FRANKFURT (MaceNews) – The following is the text of Thursday’s European Central Bank policy statement: At today’s meeting the Governing Council of the ECB took the following monetary policy decisions: (1) The interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged […]
TEXT: BANK OF CANADA LEAVES KEY RATE UNCHANGED
NEW YORK (MaceNews) – The following is the text of Wednesday’s Bank of Canada rate policy decision: The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent. The Bank is also continuing its quantitative […]
STATUS CHECK: AN UNEXPECTED SILVER LINING IN A TRUMP TWEET
WASHINGTON (MaceNews) –-The following is Friday’s status check of developments in the U.S. that can influence economic, health and political outcomes: A week of many parts, – some scary, some absurd, some mystifying – and yet only a very few worth holding on to, with meaning for the future. That narrows it down to Tuesday’s […]
FED’S EVANS: ‘PARTISAN POLITICS’ THREATENS FISCAL RELIEF; POSES ‘SIGNIFICANT DOWNSIDE RISK’
NEW YORK (MaceNews) – Political wrangling threatens needed fiscal support for the U.S. economy, and poses a big downside risk, Chicago Fed President Charles Evans said Thursday. In unusually blunt language, Evans called out politicians for lack of action, saying the expiration of an array of federal programs threatens the recovery, and that more fiscal […]
STATUS CHECK: TRUMP WANTS TO DISOWN NYC, PORTLAND, D.C.
WASHINGTON (MaceNews) –-The following is Wednesday’s status check of developments in the U.S. that can influence economic, health and political outcomes: The day was full of campaign moves, some disguised as something else. For instance, President Trump’s memo to government agencies late in the day directed preparations be made to disown certain cities that he […]
FED’S BEIGE BK SEES MIXED ECONOMY, ‘STALLED’ IN NY, STRONG IN CHI
WASHINGTON (MaceNews) – The latest Federal Reserve Beige Book survey of economic activity in all 12 regional districts Wednesday found a mixed picture, with a wide range of outcomes from “stalled” in the New York district to “strongly” improved in Chicago. Generally the survey prepared by the Minneapolis bank for the next Federal Open Market […]
FED’S WILLIAMS: NEW FRAMEWORK STRENGTHENS FED HAND IN TARGETING MAXIMUM EMPLOYMENT, PRICE STABILITY
NEW YORK (MaceNews) – The Fed’s new policy framework targeting average inflation over time puts the central bank in a stronger position to meet its employment and inflation goals, New York Fed President John Williams said Wednesday. “The new framework statement directly and effectively addresses the problems caused by a low neutral rate and persistently […]
STATUS CHECK: CREDIBILITY, DENIALS, INSINUATIONS AND CHARGES
WASHINGTON (MaceNews) – The following is Tuesday’s status check of developments in the U.S. that can influence economic, health and political outcomes: At the end of last week it was noted here that events had chipped away at the credibility of the government and the White House in particular regarding the coronavirus. Now it has […]