Ex-BOJ’s Momma Sees BOJ Cautious About Rate Hike Timing amid Slow Services Price Rise; Not in Position to Act on Weak Yen
–Momma Expects BOJ Rate Hikes in September, January but Warns of Economic Uncertainty–Momma Estimates BOJ’s Own Measure of Underlying Inflation at 1.5%, Still Below 2% Target–Momma: Central Banks Alone Cannot Anchor Inflation; Need Fiscal, Tax Policy Backup for Wealth Redistribution By Max Sato TOKYO (MaceNews) – The Bank of Japan will remain cautious about following […]
Japan June Export Rise Led by Chip-Making Equipment, Non-Ferrous Metals on Recovering Chinese Demand; Trade Balance Posts 1st Surplus in 3 Months
–Imports Up on Strong Demand for Computers, Engines, Smartphones–Exports to China Post 7th Straight Y/Y Rise Following Last Year’s Slump–Exports to US Remain Robust; Those to EU Mark 3rd Straight Y/Y Slip By Max Sato (MaceNews) –Japanese export values rose 5.4% for the seventh straight year-over-year increase in June, led by solid demand for semiconductor-making […]
Preview: Gradual Easing in Inflation, Softer Economic Climate Raise Odds of Bank of Canada Rate Cut Next Week
By Max Sato (MaceNews) – Sticky but easing inflation, rising unemployment and slower growth prospects have raised the possibility that the Bank of Canada’s policymakers will lower the short-term interest rate target next week, following up on their initial rate cut last month. The CPI report for June released Tuesday showed the annual inflation rate […]
Bank of Canada Q2 Survey: Business Outlook Remains Pessimistic amid Weak Demand, High Interest Rates, Leading to Slower Capex
Bank of Canada survey shows inflation expectations down
Japan May Core Machine Orders Unexpectedly Post 2nd Straight Monthly Drop on Pullback in Computers but Digitization Demand Remains Strong
Japanese capex pulls back
Japan June Producer Prices Up 2.9% Y/Y As Expected After Upwardly Revised 2.6% Rise in May on Higher Renewable Energy Charge, Halved Utility Subsidies, Rising Commodity Markets
Japanese producer price inflation rises
Japan May Household Spending Unexpectedly Slumps as Consumers Shy Away from Soaring Fresh Food Prices, Weaker Yen Dents Overseas Travel Demand
Japanese household spending slumps
ISM: US Services Sector Unexpectedly Slips Back into Contraction; Key Index Hits Lowest Since Early Phase of Pandemic Slump
US service business contracts in June
Italy Eyes More Medium-Long Bonds to Lengthen Debt Life – Sources
According to Rome’s government that has carried out several surveys, longer maturities appeal to Italian families as they tend to have lots of savings they prefer to invest in long term investments, and trust the state to hold their money more than banks. “The era of zero rates is over, which means that the cost […]
US June ISM Manufacturing in Contraction for 3rd Straight Month as Demand Remains Weak amid High Interest Rates
–ISM Manufacturing Index Dips to 48.5 from 48.7 in May, Below Median Forecast of 49.1–ISM’s Fiore: Biggest Concern in June Report is over Falling Production–Fiore: Employment Unlikely to Expand Without Significant Pickup in Demand–Fiore: Manufacturing Still ‘Stable’ During Summer Months When Activity Slows Down By Max Sato (MaceNews) – U.S. manufacturing activity was in contraction […]