Analysis: Canada’s Economy Survives Anti-Covid Mandate Blockade, Reputation at Stake
By Max Sato (MaceNews) – The Canadian economy appears to have emerged little hurt overall from a temporary blockade of its key US trade route caused by a truckers-led protest against anti-Covid mandates, but the government failure to prevent occupations of crucial border crossings and the national capital has tarnished the country’s reputation as an […]
Japan Government Downgrades View: Some Weakness Seen in Pickup Hit by Covid
— Pickup in Consumption Pausing on Resumed Covid Restrictions — Business Investment Moving Upward as Seen in Q4 GDP Rebound By Max Sato (MaceNews) – Japan’s government Thursday downgraded its economic overview for the first time in five months, noting the recent spike in coronavirus cases sparked by the Omicron variant is hurting consumer spending, […]
Reports: Canada’s PM Trudeau Weighs Using Emergency Act to Clear Trucker Blockades
(MaceNews) – Canadian Prime Minister Justin Trudeau is considering using the Emergency Act, which would limit civil liberties and give the federal government temporary powers to help end blockades at US borders by truckers protesting Covid mandates, news reports said. Trudeau told his Liberal Party caucus on Monday he would invoke the never-before-used Emergencies Act […]
Future of US Inflation Depends on Shelter Costs Flywheel
By Denny Gulino WASHINGTON (MaceNews) – Last month’s strong rate of increase in consumer prices reported Wednesday was the same, and for some major categories less, than in the previous month, suggesting that mathematical base effects will force indicated inflation to decelerate later this year. Most significantly, shelter costs, that contribute a third of all […]
Update: Bank of Canada’s Macklem Sees Multiple Rate Hikes But Not on Autopilot
— Adds governor comments from news conference, background at bottom By Max Sato (MaceNews) – Bank of Canada Governor Tiff Macklem on Wednesday stressed that the bank’s latest view that domestic interest rates are “on a rising path” does not mean that the bank’s policymakers would automatically keep raising rates once they embark on tightening. […]
Updated Preview: Japan Q4 GDP Rebound Seen on Easing Supply Bottlenecks, Covid Lull
–Updates with latest consumption data in paras 6-7, government measures in para 17, ESP Forecast in paras 18-19, Watchers’ survey at bottom — Consumption, Capex, Net Export Gains Behind Expected Solid Q4 Growth — Q1 GDP Face Downside Risks As Omicron-Led Covid Spike Hurts Sentiment By Max Sato (MaceNews) – Japan’s gross domestic product for […]
Cleveland Fed’s Mester: Should Reduce Balance Sheet Soon, Faster Than Last Time
By Steven K. Beckner (MaceNews) – Expressing heightened concern about inflation, Cleveland Federal Reserve Bank President Loretta Mester called Wednesday for an early and relatively rapid firming of monetary policy. Mester, a voting member of the Fed’s policy making Federal Open Market Committee this year, said she favors starting to raise the federal funds in […]
Japan Dec Household Spending Dips Again; Q4 Rise Points To Solid GDP Growth
— Oct-Dec Household Spending +4.6% Q/Q; Q4 GDP Seen Up 1.4% Q/Q— Shrinking Demand for TVs, Food for Cooking Leads To Y/Y Drop in December— Spending on Dining Out, Traveling Up Y/Y But Ministry Keeps Close Watch By Max Sato (MaceNews) – Japan’s household spending suffered a slight drop from a year earlier in December […]
Italy Govt To Extend Loans Freeze, Boost State-Backed Guarantees – Sources
By Silvia Marchetti ROME (MaceNews) – Italy’s government is expected to extend a key pandemic loans payment moratorium which expired in December 2021, and boost state-backed guarantees for private investments, according to ruling coalition sources. The extension of both measures, set-up in the wake of the COVID-19 crisis to help struggling firms’ and families access […]
UK Chancellor Pledges Energy Support With UK Gov’t Under Further Pressure
— Two Top Downing Street Officials Resign; Northern Irish Executive Under Threat over Brexit LONDON (MaceNews) – UK Chancellor of the Exchequer Rishi Sunak announced a package of measures to reduce the sting of rising energy bills, marking a rare public appearance while the government struggles to counter allegations that civil servants held multiple parties […]