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
Japan Government Keeps Its View on Economic Recovery, Upgrades Global Economy but Warns of Impact of High Interest Rates in US, Europe
Japanese cabinet warns on impact of possible overseas slowdown
Japan May Core CPI Annual Rate Rises to 2.5% from 2.2% in April as Higher Renewable Energy Charge Boosts Utility Bills
Japan core inflation faster in May
Host of Fed Officials Voice Go-Slow Approach to Making Monetary Policy Less Restrictive
Fed officials want to see more progress on inflation before rate cuts
INTERVIEW: Ex-BOJ Policymaker Kiuchi Sees Flexible JGB Purchase Program as Fine-Tuning Tool, Expects Only Gradual Rate Hikes to Below 1%
By Max Sato TOKYO (MaceNews) – The Bank of Japan is likely to maintain its “flexible” Japanese government bond purchase program as a “fine-tuning tool” so it can respond to both upside and downside risks to growth and inflation, instead of clearly reducing JGB buying from the current monthly pace of about ¥6 trillion, Takahide […]
FOMC Holds Funds Rate Steady; No Rate Cut Til Confident Inflation Headed to 2%
–Fed Officials Project Single 25 BP Rate Cuts in 2024 –Powell Calls CPI ‘Encouraging,’ But Wants More Data To Gain ‘Confidence’ By Steven K. Beckner (MaceNews) – The Federal Reserve’s policy making Federal Open Market Committee again held the federal funds rate steady Wednesday and gave no indication it will be cutting that key money […]