US July ISM Manufacturing in Contraction for 4th Straight Month as Soft Demand, Job Cuts Continue, Firms Await Fed Rate Cut
–ISM Manufacturing Index Dips to 46.8 from 48.5 in June, Well Below Median Forecast of 48.8–ISM’s Fiore: Sector in Temporary Trough, Not Diving into New Slump–Fiore: Firms Concerned About Supply Chain Disruptions amid Geopolitical Risks–Fiore: US Election Also Generating Uncertainty Over Future Energy Policy By Max Sato (MaceNews) – U.S. manufacturing activity was in contraction […]
FOMC Holds Funds Rate Steady; Powell Says Rate Cut Getting ‘Closer’
– FOMC Repeats Doesn’t Expect Rate Cut Til ‘Greater Confidence’ Inflation Headed To 2% – Powell: Rate Cut May be ‘On The Table” At Sept FOMC, But Need More Good Data – FOMC Statement More Upbeat About Inflation; Less Upbeat About Jobs By Steven K. Beckner (MaceNews) – The Federal Reserve refrained from cutting interest rates Wednesday but its rate-setting […]
Bank of Japan Hikes Overnight Rate Target to 0.25% from Range of 0% to 0.1% in 7 to 2 Vote
–BOJ Releases Specific Plans to Trim its Monthly JGB Purchases to Y3 Trillion from Y6 Trillion by end of Q1 2026–BOJ Governor Ueda: Raised Rates Because Economy, Prices Have Been on Track–Ueda: Weak Yen Impact on Prices ‘Not Necessarily Biggest Reason’ for Rate Hike By Max Sato (MaceNews) – The Bank of Japan said Wednesday […]
Japan June Retail Sales Up 3.7% Y/Y Rise Vs. 2.8% in May as Delayed Rainy Season Boosts Demand for Summer Clothing, Air Conditioners
–METI Upgrades View for 2nd Straight Month: Retail Sales on Uptrend Vs. Gradual Uptrend By Max Sato (MaceNews) – Japanese retail sales rose 3.7% on year in June, above the consensus call of a 3.0% rise, with the pace of increase accelerating from a downwardly revised 2.8% gain in May, thanks to a delayed rainy […]
Japan June Industrial Production Dip 3.6% on Month, Hit by Renewed Auto Vehicle Output Suspension over Safety Scandal, Giving Up May’s 3.6% Rebound
–METI Survey: Factory Output Likely to Rise 4.0% in July, 0.7% in August— Japan Q2 Core Capital Goods Shipments +0.5% Q/Q Vs. -2.0% in Q1, Indicating Capex Rebound in Q2 GDP–Japan Q2 GDP Forecast to Post Modest 2% Annualized Growth After 2.9% Slump in Q1–METI Keeps View: Output Has Weakened While Taking One Step Forward, […]
Japan June Jobless Rate Edges Down to 2.5%, 1st Drop in 5 Months as Number of New Job Seekers Slumps
–Employment Marks 23rd Straight Y/Y Rise, Led by Surge in Wholesale/Retail; Manufacturing Jobs Post 4th Drop in a Row–Number of Unemployed Up Y/Y for 3rd Straight Month By Max Sato (MaceNews) – Japanese payrolls posted the 23rd straight rise on year in June, led by a surge in the wholesale and retail industry which offset […]
Preview: Bank of Japan Expected to Keep Rate Target This Week, Seek Rate Hike in September if Data Shows Wage Hikes Spreading to Smaller Firms, Pushing Up Weak Services Costs
By Max Sato (MaceNews) – The Bank of Japan board is widely expected to maintain its policy stance at its two-day meeting this week and wait until its next meeting on Sept. 20-21 to follow up on its first rate hike in 17 years in March by raising the overnight interest rate target to 0.25% […]
Japan July Tokyo Core CPI Annual Rate Rises Slightly to 2.2% from 2.1% in June as Govt Ends Utility Subsidies; Energy Effect Partly Offset by Easing Processed Food Markups
–Total CPI Annual Rate Slows to 2.2% from 2.3% in Light of Smaller Fresh Food Price Rise–Core-Core CPI (Ex-Fresh Food, Energy) Decelerates to +1.5% from 1.8% By Max Sato (MaceNews) – Consumer inflation in Tokyo, the leading indicator of the national average, picked up only slightly in July in the core reading after the government […]
Japan Government Keeps Its View on Economic Recovery amid Wage Hikes, Warns of Drag from High US, European Rates, China’s Real-Estate Woes
By Max Sato (MaceNews) – Japan’s government maintained its overall assessment that the economy is recovering “moderately” and is likely to stay on course as many firms are raising wages at a higher pace to secure workers and although exports are now largely flat. In its monthly report released Thursday by the Cabinet Office, the […]
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 […]