Japan’s Prime Minister Ishiba to Step Down, Citing Risk of Party Split
TOKYO (MaceNews) – Japanese Prime Minister Shigeru Ishiba resigned on Sunday, citing the conclusion of negotiations over U.S. tariff measures and calling it a “painful decision” aimed at preventing deep divisions within the ruling Liberal Democratic Party (LDP), according to national broadcaster NHK. Ishiba told reporters he must take responsibility for a string of election […]
Japan Weekahead: Q2 GDP Revision Seen Limited, Confirming Sluggish but 5th Straight Q/Q Growth, Producer Inflation Seen Picking Up but Still Under 3%
By Max Sato (MaceNews) – Here are the key Japanese economic events for the coming week. The revised Q2 GDP data is forecast by many economists to show little change from the initial reading, confirming that Japan’s wobbly recovery from the pandemic lingers on under the weight of trade woes and sticky inflation triggered by […]
NY Fed’s Williams, Other Fed Officials, Hint at Growing Likelihood of Sept. 17 Rate Cut
– Williams Puts More Weight on Downside Job Risks than Upside Inflation Risks – Williams: Must Move Funds Rate Toward Neutral, But Gives No Time Frame By Steven K. Beckner (MaceNews) – By putting more emphasis on risks to full employment than on inflation threats, New York Federal Reserve Bank President John Williams seemed to […]
Japan Week Ahead: MOF Quarterly Business Survey to Provide Clues to Supply-Side Capex, Inventories in Revised Q2 GDP
–Consumption Appears to Have Made Resilient but Lackluster Start to Q3 By Max Sato (MaceNews) – Here are the key Japanese economic events for the coming week. – Monday, Sept. 1 0850 JST (2350 GMT/1950 EDT Thursday, Aug) The Ministry of Finance releases the Financial Statements Statistics of Corporations by Industry for the April-June quarter […]
US TARIFFS STATE OF PLAY – Punishing 50% Tariff on India Products Takes Effect; Online Shoppers to be Hit With Tariffs Friday
WASHINGTON (MaceNews) – There was no last-minute reprieve for India, as of midnight ET hit with one of the highest tariff rates in the world. The implementation of a 50% rate shuts off most trade with the U.S. and there have been many accounts of sectors of the Indian economy already feeling the severe effect. […]
Japan Still Sees Gradual Economic Recovery but Warns Some Uncertainty over Trade Deals lingers, Downgrading Its View on Exporter Profits
By Max Sato (MaceNews) – Japan’s government continues to believe that the domestic economy is expected stay on a “modest recovery” track after top negotiators from Tokyo and Washington have worked out some details of their bilateral trade deal reached last month but also warned that uncertainty over global growth is here to stay for […]
Japan Weekahead: Factory Output to Slip Back amid Lingering Trade Woes; Retail Sales Sluggish on Waning Inbound Spending Magic, Front-Loaded Air Conditioner Demand
By Max Sato (MaceNews) – Here are the key Japanese economic events for the coming week. The world trade uncertainty has been reduced somewhat by accords between Washington and some U.S. allies, except for Canada, but President Trump’s erratic policymaking is leaving firms wary of making plans. Trump tariffs are taking their toll on Japanese […]
Fed’s Powell in Jackson Hole Hints at Coming Federal Funds Rate Adjustment
– Says FOMC Can Proceed ‘Carefully’ But Cites Greater Job Risks – Announces Significant Shifts in FOMC’s Monetary Policy Framework By Steven K. Beckner (MaceNews) – Federal Reserve Chair Jerome Powell hinted Friday that the Federal Open Market Committee could resume lowering short-term interest rates when the Fed’s rate-setting body meets in mid-September. Powell made […]
Japan Weekahead: Export Values Set to Post 3rd Straight Y/Y Drop as Trump Tariffs Forcing Carmakers to Cut Prices for US Customers; Inflation to Ease Further on Fuel Subsidies
By Max Sato (MaceNews) – Here are the key Japanese economic events for the coming week. President Trump’s high import duties have prompted Toyota and other carmakers to trim sales prices for U.S. buyers in a bid to protect their market share in the world’s largest economy. This has led to a fall in overall […]
Fed Officials Still Divided, Unsure About When and How Much To Cut Interest Rates
By Steven K. Beckner (MaceNews) – Federal Reserve officials have continued this week to muse about cutting interest rates for the first time since December when the Fed’s rate-setting Federal Open Market Committee meets in mid- September, but the FOMC remains divided and unsure. Despite an uptick in inflation, labor market worries have come to […]