ECB Cuts Asset Purchases, Could Exit QE in Q3
— Rate Hikes to Come ‘Some Time After’ Asset Purchases End LONDON (MaceNews) – The European Central Bank surprised forecasters, announcing a reduction in asset purchases over the second quarter and raising the possibility of a rate hike this year, following the conclusion of Thursday’s governing council meeting. Purchases under the long-running Asset Purchase Programme will […]
As Italy Government Tackles Thorny Reforms, Cracks in Majority Weaken Support for Draghi – Sources
By Silvia Marchetti ROME (MaceNews) – Rome’s push to tackle thorny reforms is opening more cracks among governing coalition partners, undermining support for Prime Minister Mario Draghi at a time when the Ukraine crisis calls for unity, ruling party officials say. Draghi is trying to push through parliament fiscal reforms aimed at simplifying the tax […]
Foreign Ministers of Russia and Ukraine Complete Unproductive Meeting in Turkey
(MaceNews) – Foreign ministers of Russia and Ukraine, Sergei Lavrov and Dmitry Kuleba, completed their meeting in the Turkish Mediterranean resort town of Antalya, the highest-level meeting between the two post-Soviet states on the15th day of shocking bloodshed in Europe since Russia invaded Ukraine on Feb. 24th. There was no progress to report but the […]
Japan February Producer Prices Up 9.3% Y/Y Amid High Energy Costs, Supply Bottlenecks
–Japan Producer Prices Post Rises 0.8% M/M for 2nd Straight Rise By Max Sato (MaceNews) – Producer prices in Japan continued climbing from year-earlier levels in February amid lingering global supply constraints and high fuel and electricity costs, with the pace of increase hitting a fresh 41-year high partly in reaction to a slight dip […]
Analysis: Oil Falls Back as Speculators Take Profit, Market Players Reassess Ukraine Situation
By Vicki Schmelzer (MaceNews) – Crude oil prices have backed down from recent highs as speculative accounts take profit and market players reassess the situation in Ukraine. News that the International Energy Agency members would release more crude oil stocks and hopes for progress in Thursday’s Russia-Ukraine talks appeared to spur long liquidation Wednesday, along […]
Japan Q4 GDP Growth Unexpectedly Revised Down on Softer Consumption 
— Capex Shows Slight Downward Revision Vs. Projected Upward Revision — Public Works Revised Down As Expected, Its Negative Contribution Unrevised — Q1 GDP Growth Seen Slower Amid Covid Restrictions, Rising Costs, Ukraine By Max Sato (MaceNews) – Japan’s economic rebound in the October-December quarter was unexpectedly revised down slightly as consumer spending turned out […]
FOMC Set to Proceed ‘Carefully’ on Road to Tighter Monetary Policy, But Ultimate Destination Unclear
– Must Decide Pace of Rate Hikes, Where Neutral Is, and Whether Neutral Is High Enough – Fed Getting Closer to Balance Sheet Reduction But Funds Rate Primary Policy Tool By Steven K. Beckner (MaceNews) – It seemed virtually a foregone conclusion that the Federal Reserve would start raising short-term interest rates in mid-March after Jerome Powell’s […]
Preview: Japan Q4 GDP Rebound Seen Revised Up Slightly on Capex
— Private Consumption To Remain Key Growth Driver in Revised Data — Forecasts for Firmer Capex, Weaker Public Works Based on MOF Survey — Q1 GDP Growth Expected To Slow; BOJ January Consumption Index Slumps By Max Sato (MaceNews) – Japan’s economic rebound in the October-December quarter is likely to be revised up slightly as […]
Ukraine War Expected to Speed Birth of EU Army – Italy Sources
–Plan would create EU rapid deployment force to cope with emergencies –Joint force aimed at supplementing NATO, boosting European military defense By Silvia Marchetti ROME (MaceNews) – The Ukrainian crisis is bound to accelerate the creation of a European Union military force and move toward a common defense policy, which the EU now lacks, said […]
Japan January Unemployment Edges Up To 2.8% Amid Covid Restrictions
— Job Cuts Y/Y Deeper in Wholesale, Retail, Education— Hospitality Jobs Up on January 2021, When Covid State of Emergency Imposed By Max Sato (MaceNews) – Job creation in Japan remained weak in January compared to a year earlier and the unemployment rate edged up from December as more people either lost their jobs or […]