Category: Economy

BOC Chief: Uncertain How Long Canada’s ‘Transitory’ CPI Spike Lasts; Need Watch

— Macklem: After QE Tapering, Reinvestment, BOC Will Raise Rates — Macklem: Canada Q2 GDP Slump Caused by Supply Chain Disruptions — Macklem: Easing Global Supply Chain Constraints Could Take Time By Max Sato (MaceNews) – The Bank of Canada still considers the recent surge in domestic inflation a temporary phenomenon but it is uncertain […]

ECB To Decelerate QE Purchases; No Word on What Will Succeed Emergency Programme

By Laurie Laird LONDON (MaceNews) – The European Central Bank will decelerate the pace of asset purchases in the third quarter, as it presented upgraded forecasts for the next year, but provided no clue as to what will replace its emergency purchase programme which is due to end next year. “Based on a joint assessment […]

Thursday Washington Schedules from MaceNews

The White House DAILY GUIDANCE AND PRESS SCHEDULE FOR THURSDAY, SEPTEMBER 9 In the morning, the President will receive the President’s Daily Brief. This meeting will be closed press. In the evening, the President will deliver remarks on his robust plan to stop the spread of the Delta variant and boost COVID-19 vaccinations. These remarks […]

NY Fed’s Williams: 2021 Taper ‘Could Be Appropriate,’ But Must Assess Data

– Fed Progress Goal Met For Inflation, But Not for Employment – Very Good Progress Made On Jobs, But Wants To See More – MBS, Treasury Purchases Complementary; ‘Working Side By Side Together’ – Timing of Liftoff Doesn’t Depend on Timing of Tapering By Steven K. Beckner (MaceNews) – New York Federal Reserve Bank President […]

Fed’s Beige Book: Economy Weighed by Delta Variant with Growth ‘Downshifted’

WASHINGTON (MaceNews) – The Federal Reserve’s survey of economic conditions nationwide Wednesday found the economy “downshifted slightly” during the summer as the Delta variant hurt restaurants, tourism and travel while supply disruptions, labor shortages and semiconductor shortages added to the slowing. The survey of the 12 regional Fed districts was conducted through Aug. 30 and […]

Italy’s Local Elections Raise Coalition Tensions, Risk Delaying Reforms – Sources

By Silvia Marchetti ROME (MaceNews) – Italy’s upcoming local elections are bound to fuel tensions between government parties with the risk of delaying key reforms needed to kickstart the recovery, ruling coalition officials warned. “The League, the Democrats and the 5 Stars are bickering on a daily basis in an attempt to boost their popularity […]

Canada’s Central Bank Keeps Easing Stance To Support Pandemic-Hit Economy

By Max Sato (MaceNews) – Bank of Canada policy-makers are sticking to their stance to take their time unwinding quantitative easing amid growing uncertainty over global and domestic economic recovery. The bank’s Governing Council announced Wednesday that it is holding the target for overnight lending rates at 0.25% and maintaining the pace of weekly asset […]

Wednesday Washington Schedules from MaceNews

The White House                       DAILY GUIDANCE AND PRESS SCHEDULE FOR WEDNESDAY, SEPTEMBER 8, 2021 In the morning, the President will receive the President’s Daily Brief. This meeting will be closed press. After, the President will deliver remarks in honor of labor unions in the East Room. […]

Japan Q2 GDP Rebound Firmer Than Initially Estimated, Led by Capex Revision

By Max Sato (MaceNews) – Japan’s economic rebound in the April-June quarter was firmer than expected as business investment in upgrading factories and offices turned out to be stronger than previously reported, Cabinet Office data released Wednesday showed. Revised second quarter GDP data confirmed that consumer spending remained resilient despite on-and-off restrictions on economic activity […]