PREVIEW: FOMC TO REAFFIRM EASY MONEY POLICY; EXTEND FORWARD GUIDANCE TO BOND BUYING
By Steven K. Beckner (MaceNews) – For the Federal Reserve these days, it’s all about shaping and managing expectations – expectations for indefinite continuation of ultra-accommodative monetary policy. That effort will continue at the Fed’s Dec. 15-16 Federal Open Market Committee meeting. The FOMC heads toward its final meeting of 2020 amid very unusual circumstances […]
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 […]
STATUS CHECK COMMENTARY: WHEN LUNACY BECOMES CHRONIC
WASHINGTON (MaceNews) – The following is Tuesday’s status check of developments in the U.S. that can influence economic, health and political outcomes. A day of settled routine, now that conspiracy theories, a raging president and edge-of-your seat apprehension about what comes next has become routine. Pres-Elect Joe Biden tried to keep to a reassuring regimen […]
JAPAN Q3 GDP REVISED UP TO +5.3% Q/Q, +22.9% ANNUALIZED, ON FIRMER CONSUMPTION, CAPEX
By Max Sato (MaceNews) – Japan’s economy for the July-September quarter surged an upwardly revised 5.3% on quarter, or an annualized 22.9%, from the initial reading of +5.0% (+21.4% annualized), as a rebound in consumer spending turned out to be stronger than previously estimated and the decline in business investment was smaller than initially believed, […]
JAPAN OCT HOUSEHOLD SPENDING POSTS 1ST Y/Y RISE IN 13 MONTHS IN REACTION TO TAX HIKE SLUMP
By Max Sato (MaceNews) – Japan’s household spending in October marked the first year-on-year increase in 13 months as the base-year effects of the October 2019 sales tax hike faded, while a third wave of coronavirus infections around the world is likely to continue restricting some expenditures, data released Tuesday by the Ministry of Internal […]
SATURDAY/SUNDAY WHITE HOUSE SCHEDULE
WASHINGTON (MaceNews) – The following is the public White House schedule for Saturday and Sunday: WEEKEND GUIDANCE AND PRESS SCHEDULE FORSATURDAY, DECEMBER 5, 2020, THROUGH SUNDAY, DECEMBER 6, 2020 Saturday, December 5, 2020 EST 2:00PM In-House Pool Call Time3:25PM Out-of-Town Pool Call Time 4:30PM THE PRESIDENT and THE FIRST LADY depart the White […]
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 […]
NOTED BOE DOVE ADOPTS MORE CAUTIOUS TONE ON NEGATIVE RATES
By Laurie Laird LONDON (MaceNews) – One of the more dovish Bank of England rate setters has adopted more cautious view toward sub-zero interest rates in the UK, stressing that the development of a Covid vaccine could herald a more-rapid-than-expected return to normal financing conditions. Silvana Tenreyro, an external member of the Bank’s Monetary Policy […]
BOE OFFICIAL: FURTHER UK QE MORE EFFECTIVE WITH RATE CUT
—MPC External Member Saunders Also Sees Merit in Sub-Base Rate lLnding to Corporates By Laurie Laird LONDON (MaceNews) – Any expansion of quantitative easing will pack a greater punch if coupled with a rate cut, according to a key Bank of England official, who believes that borrowing rates in the UK have yet to reach […]
STATUS CHECK COMMENTARY: IS PANDEMIC RELIEF CLOSER? REALLY?
WASHINGTON (MaceNews) – The following is Thursday’s status check of developments in the U.S. that can influence economic, health and political outcomes. It would be the biggest accomplishment of the House Problem Solvers Caucus, to be the catalyst for the passage of a pandemic relief package. The approximately half a hundred Republicans and Democrats who […]