ECB EXPANDS EMERGENCY QE, LENDING PROGRAMMES; LEAVES RATES ON HOLD
–Inflation Forecast Reduced for 2020; HICP Not Expected to Reach Target Before 2024 By Laurie Laird LONDON (MaceNews) – The European Central Bank Thursday expanded its emergency asset purchase and lending programmes at its latest policy meeting but left its key rates unchanged, raising questions about whether European borrowing costs have reached its so-called “reversal […]
DATA PREVIEW: INFLATION MEASURES NOT EXPECTED TO RING ANY ALARM BELLS
WASHINGTON (MaceNews) – The coming week’s economic data measures updated consumer and business inflation readings in a context of higher interest rates and a slower rebuilding of the jobs market. Outside of the standard data, Congress faces a midnight Friday deadline to avoid another government shutdown which, if it happens, could delay the following week’s […]
FED’S BEIGE BK: FOUR DISTRICTS W/LITTLE OR NO GROWTH
WASHINGTON (MaceNews) – The Federal Reserve’s Beige Book survey of economic conditions from coast to coast, prepared for the final Federal Open Market Committee of the year in the middle of the month, not surprisingly Wednesday found a “modest” recovery marbled with seams of stagnancy as a resurgence of Covid-19 suppresses a lot of commerce. […]
BOE RATE SETTER: COVID VACCINE DOES NOT REDUCE NEED FOR ASSET PURCHASES
— External MPC member Tenreyro makes strong case for negative interest rates in the UK By Laurie Laird LONDON (MaceNews) – The rapid development of a Covid vaccine could actually strengthen the case for expanded quantitative easing in the UK, with the benefits of a jab likely to lift the economy only gradually, a Bank of England […]
ECB’S SCHNABEL SUGGESTS EXTENDING TIME FRAME TO RETURN INFLATION TO TARGET
— Rate setter says the Bank has lost the “trust” of the public By Laurie Laird LONDON (MaceNews) — A key European Central Bank official Tuesday suggested adjustments to bank’s mandate, particularly the timing of returning inflation to target, while hinting that historically-loose monetary policy could become ever-less effective in stimulating economic growth. “It could […]
LAGARDE HINTS AT REINTERPRETATION OF ECB MANDATE
–– Repeats HICP May Not Accurately Reflect Eurozone Inflation By Laurie Laird LONDON (MaceNews) – The leader of the European Central Bank hinted at a reinterpretation of the Bank’s price stability mandate and raised questions over the accuracy of the Bank’s key measure of inflation. “We have to be smart about the components that go […]
DATA FLASH: RETAIL SALES GROWTH SLOWS, UP 0.3% IN OCTOBER
–Retail Sales Ex-Motor Vehicles Rise Only 0.3%; Clothing Sales Reverse–Industrial Production Jumps By 1.1% as Utilities Production Rebounds–Business Inventories Up 0.7% in September, Business Sales Up 0.6% By Kevin Kastner WASHINGTON (MaceNews) – Retail sales rose only modestly in October, a much smaller increase than in previous months, the Commerce Department reported Tuesday. Total retail […]
STATUS CHECK COMMENTARY- ELVIS IS LEAVING THE BUILDING – NOW WHAT?
WASHINGTON (MaceNews) – The following is Thursday’s status check of developments in the U.S. that can influence economic, health and political outcomes. A day like other days since the election, a president retweeting millions of Trump votes were “deleted” and Twitter tagging that and others as “disputed.” The retweet was from a posting by the […]
DATA FLASH: US OCTOBER CPI FLAT; JOBLESS CLAIMS FALL 48,000
–Core Prices Flat, Both Including and Excluding Energy Prices–Energy Prices Rose By 0.1%, But Gasoline Prices Down 0.5%. By Kevin Kastner WASHINGTON (MaceNews) – The October consumer price data were below expectations, with flat readings for both headline and core CPI. Both measures were expected to rise by 0.2%. The year/year rates for consumer inflation […]
STATUS CHECK COMMENTARY- OF TRADITION AND LEGACY
WASHINGTON (MaceNews) – The following is Wednesday’s status check of developments in the U.S. that can influence economic, health and political outcomes. Veterans Day saw the opening of the National Museum of the United States Army, a beautiful huge structure situated in the immense Fort Belvoir, one of the U.S. military’s most high tech installations […]