Category: Global Economy

ECB’S Schnabel: Forecasts Show November is High Point of Inflation

ZURICH (MaceNews) – Currently surging inflation is seen peaking in November and then moving lower to once again fall below two percent, ECB governing council member Isabel Schnabel said in an interview Monday with Germany’s ZDF broadcaster. Inflation in the coming year will recede in direction of the ECB’s goal of 2 percent and many […]

Japan Oct Retail Sales Rebound on Fuel Price Spike, Eased Covid Restrictions

By Max Sato (MaceNews) – Japanese retail sales posted the first year-on-year rise in three months in October as fuel prices continued going up and the government lifted its Covid-19 state of emergency restrictions on Oct. 1, data released Monday by the Ministry of Economy, Trade and Industry showed. The METI maintained its assessment that […]

Text of W.H.O. Warning Vs Omicron Variant’s Apparent ‘Growth Advantage;’ Data Pending on Transmissibility, Disease Severity; Renewed Emphasis on Masks

WASHINGTON (MaceNews) – The following is Friday’s notification by the World Health Organization that the Covid variant now named “Omicron” is “of concern” and asking for worldwide efforts to assess its transmissibility and disease severity, its risk of reinfection for those already vaccinated and adding new emphasis on protective mask wearing: Classification of Omicron (B.1.1.529): […]

Japan Govt Still Sees Economic Pickup But Notes Slower Exports, Output

By Max Sato (MaceNews) – Japan’s government Thursday maintained its economic overview but pointed to a mixed bag of data showing a pickup in consumption on eased Covid restrictions against flat exports and stalling recovery in factory output amid protracted supply bottlenecks, according to its monthly report released by the Cabinet Office. The government said […]

FOMC Minutes: No Wage-Price Spiral But Ready to Accelerate Taper if Inflation More Persistent, Aggressive

WASHINGTON (MaceNews) – The minutes of the Nov 2-3 Federal Open Market Committee meeting released Wednesday repeated familiar themes about pandemic-caused inflation factors, labor supply issues and so far, the absence of a wage-price spiral. Members advocated contninued vigilance about the intensity of price pressures. Fears that inflation expectations were being elevated beyond previous ranges […]

Covid and Supply Bottlenecks Dampen German Business Sentiment in November

ZURICH (MaceNews) – Business sentiment in Germany fell in November as concerns over a fourth Covid wave and continued supply chain bottlenecks dampened both current conditions and expectations according to the latest report from the Munich-based Ifo Institute. The Business Climate Index median fell to 96.5 in November, slightly below the median of 96.7 in […]

Transcript: Wht Hse Offl’s Brief Reports on Release from SPR

WASHINGTON (MaceNews) – The following is the White House transcript of the teleconference providing reporters with information about the announcement of a pending release of 50 million barrels of oil from the Strategic Petroleum Reserve, in coordination with some other countries: Background Press Call by Senior Administration Officials on Oil and Gas Prices Via Teleconference […]

Text of Joint Announcement by Regulators on Bank Handling of Crypto Assets

WASHINGTON (MaceNews) – The following is the text of the joint announcement of the Federal Reserve, FDIC and OCC on future regulatory work on bank handling of crypto assets: Board of Governors of the Federal Reserve SystemFederal Deposit Insurance CorporationOffice of the Comptroller of the Currency November 23, 2021 Joint Statement on Crypto-Asset Policy Sprint […]

Text of Pres Biden’s Announcement of 50 Mln Bls Release from SPR

WASHINGTON (MaceNews) – The following is the text of the White House announcement Tuesday morning that the president is authorizing the release of 50 million barrels of oil from the Strategic Petroleum Reserve in coordination with China, India, Japan, South Korea and the UK: President Biden Announces Release from the Strategic Petroleum Reserve As Part […]