Japan January Producer Price Y/Y Rise Slows on Easing Energy, Commodities
–Japan Producer Prices Rebound M/M After Being Flat in December By Max Sato (MaceNews) – Producer prices in Japan continued rising from year-earlier levels in January amid lingering supply bottlenecks but the pace of increase decelerated further after hitting an over four-decade high in November in light of what appears to be a temporary easing […]
Updated Preview: Japan Q4 GDP Rebound Seen on Easing Supply Bottlenecks, Covid Lull
–Updates with latest consumption data in paras 6-7, government measures in para 17, ESP Forecast in paras 18-19, Watchers’ survey at bottom — Consumption, Capex, Net Export Gains Behind Expected Solid Q4 Growth — Q1 GDP Face Downside Risks As Omicron-Led Covid Spike Hurts Sentiment By Max Sato (MaceNews) – Japan’s gross domestic product for […]
ECB Sounds More Hawkish Note But Leaves Policy Unchanged
— President Christine Lagarde Acknowledges that Inflation is More Likely to Overshoot Target (MaceNews) – The European Central Bank “will not be complacent” about record-high eurozone inflation, a more hawkish stance from ECB President and long-term dove Christine Lagarde Thursday. “Compared to December, inflation risks are tilted to the upside, particularly in the near term,” […]
Bank of England Lifts Rates; Sends Hawkish Signals
— Decision was a “close call,” says governor, as four members argue for a steeper increase LONDON (MaceNews) – The Bank of England lifted interest rates for the second straight meeting — the first consecutive hikes since 2004 —but surprised the markets with a decidedly hawkish outlook, according to minutes of the February Monetary Policy Committee […]
KC Fed’s George: FOMC Needs to Move ‘Deliberately’ To Raise Federal Funds Rate
Funds Rate ‘Far Away’ From ‘Normal’ Monetary Policy ‘Out of Sync’ With Economic Outlook By Steven K. Beckner (MaceNews) – Kansas City Federal Reserve Bank President Esther George said Monday that the Fed needs to move “deliberately” to withdraw the unprecedented monetary stimulus adopted to counter the Covid lockdown-induced recession. George, who is voting this […]
<strong><br>FOMC Tees Up March Rate Hike Now That U.S. At ‘Maximum Employment’</strong>
– Powell Sees ‘Substantial’ Balance Sheet Shrinkage After Rate Hikes Begin – Powell Says ‘Couple’ More Discussions Needed on Balance Sheet Reduction Strategy – Powell Implies Rate Hikes May be More Aggressive Given High Inflation, Tight Labor By Steven K. Beckner (MaceNews) – The Federal Reserve took another giant step toward removing some monetary accommodation […]
FOMC Says Expects to ‘Soon Be Appropriate’ to Change Target Rate for Fed Funds
WASHINGTON (MaceNews) – The following is the Federal Open Market Committee’s statement Wednesday of its policy stance, accompanied by a reaffirmation of its August 2020 statement that the Fed’s main tool remains changes in the federal funds rate while asset purchases diminish: Indicators of economic activity and employment have continued to strengthen. The sectors most […]
Bank of Canada Keeps Record-Low Rate But Ends Forward Guidance on Easing
— BOC’s Macklem: Taking Deliberate Steps Toward Higher Interest Rates— BOC To Keep Govt Bonds on Its Balance Sheet Until It Starts Raising Rates— BOC Revises Up 2022 CPI Forecast To 4.2% From 3.4%; 2023 Unchanged at 2.3%— BOC Lowers 2022 GDP Forecast to 4.0% From 4.3%, 2023 To 3.5% Vs 3.7% By Max Sato […]
Bank of Canada Policy Statement – Holds Rates Steady, Ends Extraordinary Forward Guidance on Policy Rate
(MaceNews) – The following is the text of Wednesday’s Bank of Canada policy announcement: The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ %, with the Bank Rate at ½ % and the deposit rate at ¼ %. With overall economic slack now absorbed, the […]
Japan Dec Core CPI Rise Slows on Durable Goods, Hotels Amid Rising Energy
— Both Core and Total CPI Measures Mark 4th Straight Y/Y Gains— Utilities Push Up Overall Energy Costs, Offsetting Recent Pullback in Gasoline— Japan 2021 CPI Down 0.2%, 2nd Straight Annual Drop After -0.2% in 2020 By Max Sato (MaceNews) – Rising utilities and processed food costs propped up consumer prices in Japan in December […]