BANK OF CANADA SEES UNCERTAIN OUTLOOK ON GLOBAL WORRIES
By Gordon Isfeld OTTAWA (MaceNews) – Growing pressure on the global economy may not have seriously dented the outlook for Canada’s near-term growth, but other factors – such as international trade frictions and lingering squabbles over how to resolve the Brexit crisis – are continuing to contribute to growth uncertainty. “Evidence has been accumulating that ongoing […]
US JUNE PAYROLLS +224K, CONFOUNDING FORECASTERS AND IMPERILING RATE CUT
By Denny Gulino WASHINGTON (MaceNews) – The carefully wrought July rate-cut scenario is now challenged by the blockbuster 224,000 surprise payrolls total for June, with Friday’s report pitting economic pessimists against prospects for renewed strength for the longest U.S expansion in history. Many forecasters who were confounded by a return to 200,000 plus payrolls growth […]
FED’S MESTER: U.S. Q2 SLOWDOWN NOT SUFFICIENT TO TRIGGER RATE CUT
By Laurie Laird LONDON (MaceNews) – While U.S. growth appears to have weakened over the second quarter, the current slowdown is insufficient to trigger a reduction in interest rates, according to Cleveland Federal Reserve President Loretta Mester. “Given the current level of the funds rate and my current baseline outlook,” interest rates represent an “appropriate […]
FED’S POWELL THREADS NEEDLE, NO PROMISES YET STRONGER CASE FOR CUTS
–More Uncertainty And Ready to ‘Act as Appropriate’ By Denny Gulino WASHINGTON (MaceNews) – Federal Reserve Chairman Jerome Powell Wednesday carefully refrained from promising rate cuts while suggesting they have more support amid increased uncertainty about growth, inflation and international developments – all in the context of a well behaving economy. “We are quite mindful […]
FOMC: ‘TO ACT AS APPROPRIATE;’ ‘PATIENCE’ GETS THE AXE
–‘Uncertainties About This Outlook Have Increased’ –St. Louis Fed’s Bullard Dissents WASHINGTON (MaceNews) – The Federal Open Market Committee Wednesday decided not to cut rates, triggering one member’s dissent, and promised only to “act as appropriate” while excising the word “patience.” The Committee generally stayed with its outlook but said “uncertainties” have increased. St. Louis […]
TEXT OF G20 COMMUNIQUE OF FINMINS, CENBANK GOVS
(MaceNews) – The following is the text of the communique issued Sunday after the meeting in Fukuoka, Japan, of finance ministers and central bank governors. The meeting was held in preparation for the summit of G20 heads of state that will be held in Osaka June 28-29. The final text, provided by the Japan Ministry […]
ANALYSIS: THE SADNESS OF BEING MERELY THE FEDERAL RESERVE
By Denny Gulino WASHINGTON (MaceNews) – Any clinical look at today’s economy and markets would have to acknowledge something unusual is happening, even that the world of money and international transactions may be hurtling into a future that is mottled with serious undefined risk. Mario Draghi said as much as he concluded his ECB news […]
ECB EYES NEW STIMULUS TO BOOST WEAKENING EURO ZONE ECONOMY
By Laurie Laird VILNIUS (MaceNews) -The European Central Bank has acknowledged the weakening euro zone economy, extending its forward guidance and reiterating the governing council’s pledge to deploy a range of unconventional measures should conditions falter further. The ECB kept its deposit facility rate at -0.4% at its latest governing council meeting, and vowed to […]
HIGHLIGHTS OF ECB’S DRAGHI Q&A: ‘MUST BE PREPARED’
–Markets Seem to See ‘Something Larger Than Simply Trade Disputes’ (MaceNews) – Here are some highlights of European Central Bank President Mario Draghi’s question and answer session Thursday: –Markets seem to see “something bigger than simply trade disputes.” We “have to take this reading seriously and be prepared.” –Don’t see signs of de-anchoring of inflation […]
FED’S BEIGE BK SURVEY SEES ‘SLIGHT IMPROVEMENT’
–Hardly a Mention of Trade WASHINGTON (MaceNews) – The modestly expanding national economy was on course through mid May, at least before the latest Mexican tariff threats and the massive Midwest flooding, showing a “slight improvement” with the possible exception of the St. Louis and Dallas districts, the Federal Reserve’s Beige Book survey showed Wednesday. […]