TEXT OF US-MEXICO DECLARATION ON MEXICO PACT
WASHINGTON (MaceNews) – The following is the joint Mexico-U.S State Department declaration on the agreement announced late Friday between the United States and Mexico that suspends the threat of the first phase of U.S. tariffs being imposed Monday: The United States and Mexico met this week to address the shared challenges of irregular migration, […]
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 […]
FED’S POWELL MAKES THE ‘FED PUT’ EXPLICIT RE TRADE TURBULENCE
–‘We Will Act as Appropriate’ to Sustain Expansion By Denny Gulino CHICAGO (MaceNews) – In a major announcement Tuesday, Federal Reserve Chairman Jerome Powell made the “Fed put” explicit, saying, “We will act as appropriate to sustain the expansion” in case of trade negotiation turbulence. He is making the remarks at a Chicago Fed conference […]
STILL FACING CANADA FINANCIAL ‘VULNERABILITIES’
By Gordon Isfeld OTTAWA (MaceNews) – Canada’s financial system continues to face “vulnerabilities” related to household debt and “imbalances” in the country’s residential markets, even as regulators continue to tighten guidelines in mortgage lending. “New measures have curbed borrowing, reduced speculative behaviour in housing markets and made the financial system more resilient,” the Bank of Canada […]
HOPING FOR THE BEST WHILE BRACING FOR TRADE CATASTROPHE
–Hours of Suspense Ahead By Denny Gulino WASHINGTON (MaceNews) – Lower level Chinese officials are in Washington Wednesday preparing for Thursday’s arrival of long-time sidekick to Xi Jinping, Vice Premier Liu He – whose job No. 1 has to be to forestall higher and wider U.S. tariffs. Liu, the Harvard graduate who was schoolmate in […]
TRUMP PUSHES GEOPOLITICAL BUTTONS, SHATTERS MARKETS SERENITY
WASHINGTON (MaceNews) – World capitals and trading centers Monday are trying to figure out how competent U.S. President Donald Trump is to manage trade relations with China now that he has tweeted away market serenity. For those willing to give Trump the benefit of the doubt the leanings are as follow: Trump, the savvy negotiator, […]
ECB’S DRAGHI SEES ‘PERSISTENCE OF UNCERTAINTIES
–ECB Pledges to Hold Rates Steady to Yearend By Laurie Laird FRANKFURT (MaceNews) – The European Central Bank could ease the burden of negative interest rates on the region’s banks, raising concerns that prolonged weakness in the euro zone economy could require further stimulus measures, even the resumption and expansion of quantitative easing. The ECB […]
ECB: RATES HOLDING REST OF YR; EASES POLICY STANCE
By Laurie Laird FRANKFURT (MaceNews) – The European Central Bank adopted a markedly easier policy stance at Thursday’s governing council meeting, just months after terminating its multi-billion dollar quantitative easing programme, following a dramatic downward revision to its growth forecast for 2019. From September, the ECB will launch a new series of quarterly targeted longer-term […]
ECB ACKNOWLEDGES DOWNSIDE RISKS; POLICY UNCHANGED
–Euro Area Risks ‘Have Moved to the Downside’ By Laurie Laird FRANKFURT (MaceNews) – The European Central Bank said Thursday it has no immediate plans to loosen monetary policy, despite acknowledging a substantial loss of economic momentum in the euro zone and highlighting potential headwinds to the euro zone expansion. “The risks surrounding the euro […]
ECB: TO INVEST QE PROCEEDS BEYOND RATE RISE
By Laurie Laird FRANKFURT (MaceNews) – The European Central Bank Thursday confirmed its intention to end quantitative easing at year end, despite marked signs of weakness in the euro zone economy, but stressed a commitment to reinvesting proceeds of previous bond purchases over the medium term or longer. We intend to continue to reinvesting, in […]