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 […]
Analysis: Japan Economy Faces Headwind in Light of Russian Invasion of Ukraine
By Max Sato (MaceNews) – Japan’s wobbly economic recovery faces downside risks from high energy and commodities prices, which have surged on tensions over Ukraine between Russia and the West and could rise further on supply concerns now that Russia has invaded its neighbour. The direct impact of economic sanctions against Moscow on Japan’s trade […]
UPDATE: Pres Biden Upgrades Sanctions Vs Russia; ‘It’s a War Without a Cause’
By Frank Csongos and Denny Gulino WASHINGTON (MaceNews) – President Joe Biden announced Thursday new economic sanctions on Russia to punish its military invasion of Ukraine. Biden denounced Russian President Vladimir Putin of waging “naked aggression” and pledged Russia will bear the consequences. “It’s a war without a cause,” he said. Biden said the U.S. […]
Pres Biden: Haven’t Verified Any Russia Withdrawal; GOP Prepares Sanctions Bill
By Eric Ham WASHINGTON (MaceNews) – President Biden Tuesday said he has not verified Russia claims it is withdrawing some forces from nearby Ukraine as Republicans prepare their own sanctions legislation. In a brief statement delivered as U.S. stocks were posting gains on the possibility of a Russian drawdown, the president tempered the optimism with […]
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 […]
Italy’s Center Right Coalition Is Falling to Pieces, Smaller Chance of Success in 2023 – Sources
By Silvia Marchetti ROME (MaceNews) – Italy’s center right coalition is crumbling to pieces following the presidential vote; it is now weaker and if it doesn’t quickly “recover” its chances of winning the 2023 elections are down to a minimum, according to party sources. The center right’s three allied parties – the League group of […]
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 […]