German Economic Sentiment Plunges on Ukraine, Sanctions, ZEW Reports
ZURICH (MaceNews) – Economic sentiment in Germany fell by a historic margin in March, as the war in Ukraine and resulting sanctions against Russia pushed the ZEW institute’s measure of economic sentiment into sharply negative territory. The ZEW measure of economic sentiment plunged 93.6 points in March to a reading of -39.3 from the February […]
Text: G7 Details Current and Future Sanctions Vs Russia
WASHINGTON (MaceNews) – The following is the joint statement statement Friday by the Group of Seven countries, detailing new current sanctions and anticipated future sanctions being imposed on Russia: We the Leaders of the Group of Seven (G7) remain resolved to stand with the Ukrainian people and government who heroically resist Russian President Vladimir Putin’s […]
Japan January Household Spending Rebounds Y/Y on Less Strict Covid Rules
–Spending in January Dips Vs. December Amid Omicron-Led Spike in Covid Cases –Ministry Sees Spending As Largely Flat, To Watch Impact of Restrictions on February By Max Sato (MaceNews) – Japan’s household spending slipped back on the month in January, hit by the drag from the Omicron-led spike in Covid cases, but posted the first […]
ECB Cuts Asset Purchases, Could Exit QE in Q3
— Rate Hikes to Come ‘Some Time After’ Asset Purchases End LONDON (MaceNews) – The European Central Bank surprised forecasters, announcing a reduction in asset purchases over the second quarter and raising the possibility of a rate hike this year, following the conclusion of Thursday’s governing council meeting. Purchases under the long-running Asset Purchase Programme will […]
Japan Q4 GDP Growth Unexpectedly Revised Down on Softer Consumption 
— Capex Shows Slight Downward Revision Vs. Projected Upward Revision — Public Works Revised Down As Expected, Its Negative Contribution Unrevised — Q1 GDP Growth Seen Slower Amid Covid Restrictions, Rising Costs, Ukraine By Max Sato (MaceNews) – Japan’s economic rebound in the October-December quarter was unexpectedly revised down slightly as consumer spending turned out […]
FOMC Set to Proceed ‘Carefully’ on Road to Tighter Monetary Policy, But Ultimate Destination Unclear
– Must Decide Pace of Rate Hikes, Where Neutral Is, and Whether Neutral Is High Enough – Fed Getting Closer to Balance Sheet Reduction But Funds Rate Primary Policy Tool By Steven K. Beckner (MaceNews) – It seemed virtually a foregone conclusion that the Federal Reserve would start raising short-term interest rates in mid-March after Jerome Powell’s […]
Preview: Japan Q4 GDP Rebound Seen Revised Up Slightly on Capex
— Private Consumption To Remain Key Growth Driver in Revised Data — Forecasts for Firmer Capex, Weaker Public Works Based on MOF Survey — Q1 GDP Growth Expected To Slow; BOJ January Consumption Index Slumps By Max Sato (MaceNews) – Japan’s economic rebound in the October-December quarter is likely to be revised up slightly as […]
Fed’s Powell Will Ask for 25 bp Rate Hike March 16; First Of ‘Series’ of Rate Hikes
– But FOMC Will Withdraw Monetary Stimulus ‘Carefully’ To Avoid ‘Adding Uncertainty’ – Ultimate Aim is ‘Neutral’ Rate of 2-2.5%; Perhaps Higher; Must Act ‘With Care’ By Steven K. Beckner (MaceNews) – Russia’s invasion of Ukraine will not prevent the Federal Reserve from beginning to raise interest rates in two weeks, but it will make the Fed more cautious about withdrawing monetary […]
Bank of Canada Hikes Policy Rate To 0.50% From Record Low 0.25% To Fight Inflation
–BOC Keeps Reinvesting in Government Bonds on Its Balance Sheet –BOC: Russia’s Invasion of Ukraine ‘A Major New Source of Uncertainty’–BOC: Expect Further Rate Hikes As Economic Growth, Inflation Pressures Continue –BOC: To Consider Start of Quantitative Tightening Based on Economic Assessment By Max Sato (MaceNews) – The Bank of Canada on Wednesday raised its […]
Japan February Tokyo Core CPI Rise Picks Up From January on Utilities, Processed Food
–Hotel Fees Slower After 2021 Double-Digit Gains Over 2020 Subsidized Discounts–Utilities Leading Energy Higher; Durable Goods Down As Stay-at-Home Demand Wanes–Most of Base Effect in Mobile Phone User Fee Cuts To Last Through March By Mas Sato (MaceNews) – The year-on-year rise in consumer prices in Tokyo, the leading indicator of the national average, picked […]