US TARIFFS STATE OF PLAY: EU Signs On; China, Not Yet; Tariff Regime Fragile As Most of the Transition Lies Ahead
By Denny Gulino WASHINGTON (MaceNews) – Thursday’s 10a ET oral arguments in the U.S. Court of Appeals for the Federal Circuit is one of the several legal challenges of President Trump’s “reciprocal tariffs,” a stark reminder that much of the entire U.S. tariff regime could suddenly collapse, requiring the refund of all the billions of […]
Bank of Canada Pauses for 3rd Straight Meeting amid Sticky Core Inflation, Resilient Economy and Uncertain Trade Row Impact on Growth, Prices
–BOC Keeps Policy Rate at Roughly Neutral 2.75% After 7 Rate Cuts Totaling 225 Basis Points from June 2024 Until March 2025BOC: May Need a Rate Cut If Slower Growth, Easing Trade Friction Lead to More Controlled Inflation–Governor Macklem: Still Proceeding Carefully, Hard to Be as Forward-Looking as Normal–Mackem: Taking Policy Decision One Meeting at […]
Preview: Bank of Canada Set to Pause for 3rd Straight Meeting amid Sticky Core Inflation, Uncertainty over US Trade Row Impact on Growth, Costs
–BOC Widely Expected to Keep Policy Rate at 2.75% Wednesday After 7 Rate Cuts Totaling 225 Basis Points from June 2024 Until March 2025–Focus is on Whether Bank will Continue to ‘Proceed Carefully’ and Remain ‘Less Forward-Looking Than Usual’ By Max Sato (MaceNews) – The Bank of Canada is widely expected to maintain its policy […]
Japan Expects Gradual Economic Recovery in Light of Trade Accord with US but Warns Drag from Trump Tariffs Still Needs Close Watch
By Max Sato (MaceNews) – Japan’s government is looking at the bright side of trade rows in the wake of a bilateral deal with the Trump administration, sticking to its long-held conviction that the economy is expected stay on a “modest recovery” track but also warned that uncertainty remains. In its monthly report for July […]
Japan Weekahead: PM Ishiba’s Fate Up in the Air After His Minority Government Suffers Setback in Upper House Election; BOJ to Stand Pat as Trade Rows Cloud Growth Outlook
–June Industrial Output Seen Flat, Retail Sales Sluggish, Setting Soft Tone for Q2 GDP Due August 15–June Jobless Rate to Remain Low and Stable at 2.5%, Job Creation Continues for Nearly 3 Years amid Labor Shortages By Max Sato (MaceNews) – Here are the key Japanese economic and political events for the coming week. Prime […]
Japan Weekahead: Ruling Coalition May Lose in Upper House Election; Tokyo CPI to Show Further Easing but Inflation Seen Still around 3% Amid High Processed Food Prices
By Max Sato (MaceNews) – Here are the key Japanese economic and political events for the coming week. – Sunday, July 20 Voting and vote counting for the House of Councillors general elections. Opinion polls show the ruling coalition led by the conservative Liberal Democratic Party may lose a majority in the upper house, which […]
Japan Weekahead: Machinery Orders, Exports Seen Down as Trump Tariffs Hit Auto, Steel Makers; Inflation to Ease on Fuel Subsidies but Still Above 3% amid High Rice Prices
By Max Sato (MaceNews) – Here are the key Japanese economic events for the coming week. Stiff U.S. tariffs on imports are having some cooling effects on the auto and steel industries as seen in recent production and trade data but not pushing the global or domestic economy into a tailspin. Inflation in Japan, now […]
Japan Weekahead: Fuel Subsidies, Softer Global Demand Seen Easing Producer Inflation Further While Real Wages Slow to Recover amid High Costs of Living
By Max Sato (MaceNews) – Here are the key Japanese economic events for the coming week. In the previous week, the Bank of Japan’s quarterly business survey for June showed confidence among major manufacturers unexpectedly posted a slight pickup, led by steel mills, oil refineries and paper/pulp makers thanks to lower materials costs, while producers […]
Japan Household Spending Tops Expectations in May With 4.7% Rise From Year Ago, with Boost From Auto Sales
By Chikafumi Hodo TOKYO (MaceNews) – Japan’s household spending rose 4.7% in real terms in May from a year earlier, marking the first increase in two months and sharply beating market expectations. The reading reversed a 0.1% decline in April and outpaced the median forecast of a 1.1% gain. The stronger-than-expected recovery was paced by […]
US ISM Manufacturing Stays in Contraction in June as Uncertainty Over Trade Conflicts Keeps Firms on Sidelines, Leading to Weak Demand, More Layoffs
–ISM Manufacturing Index at 49.0 Vs. 48.5 in May, Consensus at 48.8–ISM’s Spence: Production Up but Still Fragile, New Orders Falling–Spence: Orders Unlikely to Pick Up Until Trade, Geopolitical Risks Wane By Max Sato (MaceNews) – U.S. manufacturing activity was in contraction for the fourth straight month in June as the uncertainty over protectionist U.S. […]