Fed Officials Remain Hesitant To Back Aggressive Rate Cuts Despite Weaker Job Data
– Consensus for 25 bp Cut in September Seemingly Intact, But Early or Larger Cut Doubtful By Steven K. Beckner (MaceNews) – When a disappointing July employment report and other worrisome economic indicators triggered a Wall Street sell-off, speculation mounted that the Federal Reserve would have to play catch-up and ease monetary policy more aggressively […]
Bank of Japan Hikes Overnight Rate Target to 0.25% from Range of 0% to 0.1% in 7 to 2 Vote
–BOJ Releases Specific Plans to Trim its Monthly JGB Purchases to Y3 Trillion from Y6 Trillion by end of Q1 2026–BOJ Governor Ueda: Raised Rates Because Economy, Prices Have Been on Track–Ueda: Weak Yen Impact on Prices ‘Not Necessarily Biggest Reason’ for Rate Hike By Max Sato (MaceNews) – The Bank of Japan said Wednesday […]
Preview: Bank of Japan Expected to Keep Rate Target This Week, Seek Rate Hike in September if Data Shows Wage Hikes Spreading to Smaller Firms, Pushing Up Weak Services Costs
By Max Sato (MaceNews) – The Bank of Japan board is widely expected to maintain its policy stance at its two-day meeting this week and wait until its next meeting on Sept. 20-21 to follow up on its first rate hike in 17 years in March by raising the overnight interest rate target to 0.25% […]
Japan July Tokyo Core CPI Annual Rate Rises Slightly to 2.2% from 2.1% in June as Govt Ends Utility Subsidies; Energy Effect Partly Offset by Easing Processed Food Markups
–Total CPI Annual Rate Slows to 2.2% from 2.3% in Light of Smaller Fresh Food Price Rise–Core-Core CPI (Ex-Fresh Food, Energy) Decelerates to +1.5% from 1.8% By Max Sato (MaceNews) – Consumer inflation in Tokyo, the leading indicator of the national average, picked up only slightly in July in the core reading after the government […]
Japan Government Keeps Its View on Economic Recovery amid Wage Hikes, Warns of Drag from High US, European Rates, China’s Real-Estate Woes
By Max Sato (MaceNews) – Japan’s government maintained its overall assessment that the economy is recovering “moderately” and is likely to stay on course as many firms are raising wages at a higher pace to secure workers and although exports are now largely flat. In its monthly report released Thursday by the Cabinet Office, the […]
Bank of Canada Trims Policy Rate Further by 25 Basis Points to 4.50% on Easing Inflation, Cooling Economy; Leaving Door Open for More Cuts
–BoC: Excess Supply Lowers Inflationary Pressures but Shelter, Some Other Services Holding Inflation Up–Governor Macklem: Downside Risks Taking on Increased Weight in Monetary Policy Deliberations–Macklem: Need Growth to Pick Up So Inflation Does Not Fall Too Much, Even as We Work To Get Inflation Down To 2% Target By Max Sato (MaceNews) – The Bank […]
Japan June Core CPI Annual Rate Edges Up to 2.6% from 2.5% in May as Effects of Renewable Energy Fee Hike, Reduced Utility Subsidies Offset Easing Processed Food Markups
–Total CPI June Y/Y Rise Steady at 2.8%; Fresh Food Prices Still Up 8%–Core-Core CPI (Ex-Fresh Food, Energy) Annual Rate Creeps Up to 2.2% from 20-Month Low of 2.1% in May By Max Sato (MaceNews) – Consumer inflation in Japan inched up in two of the three key measures in June on reduced subsidies for […]
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 […]
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
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