PREVIEW: BOJ Dec Tankan To Show Mixed Sentiment, FY21 Capex Plans
–Sentiment Among Manufacturers Seen Flat After Recent Gains–Non-Manufacturers Likely Report Better Sentiment on Eased Covid Rules–Major Firms Expected To Revise Down Their Capex Plans–Smaller Firms Tend To Revise Up their Capex Plans Later in Fiscal Year By Max Sato (MaceNews) – The Bank of Japan’s quarterly Tankan business survey is expected to show confidence among […]
Japan Nov Producer Price Rise Remains 4-Decade High on Energy, Commodities
By Max Sato (MaceNews) – Producer prices in Japan continued rising from year-earlier levels, staying at a four-decade high, as global supply chain disruptions, albeit easing slightly, as well as labor shortages are pushing up energy and commodities markets, data released Friday by the Bank of Japan showed. By contrast, consumer inflation in Japan remains […]
Analysis: Inflation-Wary FOMC Seems Headed Toward a Quicker Pace of Tapering, Rate Hikes
– Wage-Price Trends Have Dramatically Changed the Fed’s Policy Calculus By Steven K. Beckner (MaceNews) – Who would have imagined just a short time ago that the Federal Reserve would not only be accelerating reductions of asset purchases before year’s end, but signaling an intention to raise short-term interest rates sooner and more rapidly than […]
Italy Backs EU Council’s Switch To Qualified Majority Voting, ‘Key’ To Boost Integration
By Silvia Marchetti ROME (MaceNews) – Italy supports switching from unanimity in votes on tax and defense policy within the European Council to a qualified majority, which according to ruling coalition sources will speed up the decision-making and integration process. The proposal of changing the voting system within the EU Council, which represents member states, […]
Bank of Canada Keeps Record-Low Rate, Still Sees a Hike in Mid-2022
By Max Sato (MaceNews) – The Bank of Canada on Wednesday left its record-low policy rate — the target for overnight lending rates — at 0.25%, as expected, to continue supporting economic recovery while sticking to its recent projection that a rate hike is likely to come sometime between April and September. “The Governing […]
Japan Q3 GDP Slump Revised Down on Weaker Consumption, Exports
— Q4 GDP Rebound Expected Amid Uncertainty Over Covid Impact By Max Sato (MaceNews) – Japan’s economic contraction in July-September quarter was revised down sharply as consumer spending and net exports turned out to be weaker than previously estimated and a buildup in private-sector inventories was lower than thought, more than offsetting an upward revision […]
Japan Oct Household Spending Dip Slows on Eased Covid Restrictions
By Max Sato (MaceNews) – Japan’s household spending posted the third straight year-on-year drop in October but the pace of decline decelerated from September as the government lifted its Covid-19 state of emergency restrictions on Oct. 1, data released Tuesday by the Ministry of Internal Affairs and Communications showed. The number of new Covid-19 cases […]
Italy-France Pushing for ‘Single EU Debt’ to Fund Post-Pandemic Growth; Germany’s Stance on Closer Fiscal Integration in Post-Merkel Era Uncertain – Sources
By Silvia Marchetti ROME (MaceNews) – Italy and France are pushing for issuance of a ‘common European public debt’ to fund long-term pro-growth investments with the additional goal of strengthening the single currency and boosting European integration, Italian official sources say. Sources say Europe faces a turning point with the departure of former Chancellor Angela Merkel, […]
No US Government Shutdown
By Eric Ham WASHINGTON (MaceNews) – The Senate late Thursday agreed with an earlier vote in the House and successfully avoided a government shutdown Friday night. The Senate vote was a bipartisan 69 to 28 to extend the current federal budget to Feb. 18. An earlier Senate vote that could have demolished the plan of […]
Election of Italy’s Next President Will Favor ‘Continuity of Policy’ with Draghi’s Cabinet – Sources
By Silvia Marchetti ROME (MaceNews) – The appointment by parliament of Italy’s next head of state is likely to raise political tensions as parties seek a deal on the successor, with rising speculation that current premier Mario Draghi could be taking over the role, according to ruling coalition sources. Officials argued that coming weeks will […]