Japan June Industrial Production Rebounds, Paced by Auto Sector amid Solid Sales in Domestic, Overseas Markets
–Output Up 1.3% Q/Q in April-June after 1.8% Drop in January-March –METI Survey: Output Likely to Slip Back in July, Post Modest Rise in August –METI Keeps View: Output Showing Gradual Pickup –METI Repeats: To Watch Effects of Parts Shortages, Inflation By Max Sato (MaceNews) – Japan’s industrial production rebounded on the month in June […]
White House and Other Schedules for Friday, July 28
WASHINGTON (MaceNews) – The following are Friday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as U.S. economic data and Federal Reserve events: DAILY GUIDANCE AND PRESS SCHEDULE FOR FRIDAY, JULY 28, 2023 In the morning, the President will receive the President’s Daily Briefing. This meeting will be closed […]
BOJ Keeps Basic Easing Stance to Seek Stable 2% Inflation, Wage Growth but Makes 10-Year Yield Reference Range More Flexible
–BOJ Repeats: To Patiently Continue with Easing while Nimbly Responding to Developments in Economic Activity, Prices, Financial Conditions By Max Sato (MaceNews) – The Bank of Japan said Friday its policy board decided unanimously to maintain its monetary easing stance, keeping its zero to slightly negative interest rate targets along the yield curve as well […]
Japan July Tokyo Core CPI Annual Rate Eases to +3.0% from June’s +3.2% as Utility Costs Fall at Faster Pace, Mobile Phone Price Gains Shrink in Base-Year Effect
–Processed Food Markups Continue to Lead Consumer Inflation, Pushing Up CPI Annual Rate by Close to 2 Percentage Points –Total CPI Annual Rate Steady at 3.2% after Hitting 41-Year High of 4.4% in January –Narrow CPI (Ex-Fresh Food, Energy) Annual Rate Rises to Fresh 41-Year High of 4.0% from 3.8% By Max Sato (MaceNews) – […]
White House and Other Schedules for Thursday, July 27
WASHINGTON (MaceNews) – The following are Thursday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as U.S. economic data and Federal Reserve events: DAILY GUIDANCE AND PRESS SCHEDULE FOR THURSDAY, JULY 27, 2023 In the morning, the President will receive the President’s Daily Brief. This meeting will be closed […]
FOMC Resumes Rate Hikes as Powell Hints at Higher Rates To Come
– Ups Funds Rate 25 Bp to 5.25-5.5%; ‘Extent of Additional Policy Firming’ Referenced – Powell: FOMC Could Hike Again in September or Keep ‘Steady’ Depending on Data – Powell Rules Out 2023 Rate Cuts – FOMC Repeats ‘Inflation Remains Elevated’ – FOMC Repeats Bank Credit Tightening to Weigh on Firms and Households By Steven […]
TRANSCRIPT: Fed’s Powell Post-FOMC Meeting Q&A
WASHINGTON (MaceNews) – The transcript of Federal Reserve Chair Jerome Powell’s post-FOMC meeting press conference Wednesday follows: Since early last year the FOMC has significantly tightened the stance of monetary policy. Today we took another step by raising our policy interest rate a quarter percentage point. And we are continuing to reduce our securities holdings […]
FOMC Raises Fed Funds Rate Another Quarter Point as Expected; Repeats Previous Language
WASHINGTON (MaceNews)- The Federal Open Market Committee had no surprises to offer Wednesday, fulfilling expectations for another quarter point increase in the fed funds rate, to 5.25% to 5.50%, and using well-worn phraseology to remain committed to 2% inflation. The policy statement follows: Recent indicators suggest that economic activity has been expanding at a moderate […]
Bank of Canada Summary of July Meeting: Policymakers Agreed Cost of Delaying Rate Hike Greater than Benefit of Waiting
–-BOC: Members Saw Two Factors Keeping Inflation Above Target: Tightening Taking Longer Than Usual to Have Impact, Demand May Be Stronger Than Expected By Max Sato (MaceNews) – Bank of Canada policymakers discussed whether to raise the policy rate in July or wait for more evidence to solidify the case for further tightening and reached […]
Japan Govt Keeps View on Moderate Economic Recovery Backed by Consumer Spending, Business Investment Amid Higher Wage Growth
By Max Sato (MaceNews) – Japan’s government Wednesday maintained its overall assessment, saying the economy is recovering moderately as substantial wage hikes and Covid-era excess savings are supporting consumer spending while improving supply chains are shoring up business confidence and investment, according to its monthly report released by the Cabinet Office. Japanese policymakers expect robust […]