US core CPI rises 3.6% as expected
US CPI rose 3.35% in the year to April, as expected by analysts. Meanwhile, core CPI, which strips out prices of food and energy, increased 3.61%, also as market expected.
US April Jobs Report – Unemployment rate rises back to 3.9% as Nonfarm Payroll...
Nonfarm payroll increased 175,000 in April, a significant reduction from 315,000 in March and fell short of the market expectation of 243,000. Meanwhile, US unemployment rebounded to 3.9%
US labor market cools down further with job openings, hires, quits all drop in...
The March US job opening and labor turnover (JOLT) report shows that job opening rate, hire rate and quit rate all dropped marginally in March, showing further cool down in the US labor market.
Bank of England will likely retire Fan chart, Andrew Bailey says
Bank of England's Fan charts would probably be replaced by "alternative scenario" projections, which illustrate how policy might react under different economic developments.
UK inflation cools to 3.4% amid service inflation slowdown
Core inflation also slowed to 4.5%, compared to a year earlier.
Canada inflation slows further to 2.8%; rent continues to rise
Canada's CPI rose 2.78% in February, a further slowdown from the 2.86% increase in the January
Canada unemployment rate rises to 5.8% as labor force continues to grow
Statistic Canada on Friday reported that Canada's unemployment rate rose to 5.8%,, reaching the highest since the start of 2022.
Bank of Canada holds rate at 5%, cites persistent underlying inflation
Bank of Canada held its overnight rate at 5% after its March monetary policy meeting, citing "risks to the outlook for inflation, particularly the persistence in underlying inflation."
Canada inflation drops to 2.9% in January
Canada's headline CPI rose 2.9% in January, hitting Bank of Canada's inflation-control target range of 1% - 3% for the first time since March 2021.
UK retail sales rebounds 3.4% in Jan after dismal Christmas figures
UK retail volume rose 3.4% MoM in January, after it dropped by 3.3% in December
UK inflation holds at 4% in January
CPI: 4.0% YoY (Dec: 4.0%); Core CPI: 5.1% YoY (Dec: 5.1%)
US payroll growth in Jan beats expectations
US nonfarm payroll increased 353,000 and Unemployment rate as 3.7% in January
Fed to let Bank Term Funding Program expires on March 11
The US central bank also made an adjustment of the program's terms, setting minimum interest rate level at the interest of reserve balance, effective immediately, to block an arbitrage opportunity that banks have been taking advantage of.
Bank of Canada continues to hold rate at 5% as underlying inflation still shows...
Governor Macklem said the "Governing Council’s discussion of monetary policy is shifting from whether our policy rate is restrictive enough to restore price stability, to how long it needs to stay at the current level"
US CPI inflation rebounds in Dec to 3.4%
Core CPI inflation continues to decelerate to 3.93%
UK Economic Inactivity and Long-term Sickness
Post-covid trend of the economic inactivity in the UK
Bank of Canada holds rate at 5% after September meeting
Bank of Canada maintained its benchmark interest rate at 5% but warned about persistent underlying inflationary pressure.
G20 finance officials to discuss debt, funding to low-income countries in India
G20's economic officials will gather in India next week to discuss ways to boost lending to developing countries from multilateral institutions and to reform the international debt system, Reuters cited unnamed Indian officials.
Bank of England raises interest rate by 0.5%—notes on the Bank’s decision
Bank of England on Thursday decided to raise its benchmark interest rate by 0.5% to 5%, larger than the market expectation of a 0.25% increase. The decision followed Office of Nation Statistics' publication of a 8.7% CPI inflation reading for the year to May on Wednesday.
BoE to run system-wide evaluation on financial system including non-banks
Bank of England will conduct a system-wide exploratory scenario (SWES) exercise on the UK financial markets to see how well both banks and non-bank financial institutions can handle stress market conditions.
US gains 339,000 jobs while unemployment rate rises to 3.7%
Employers in the US added 339,000 jobs in May, but at the same time 440,000 more people reported they were unemployed
Eurozone inflation drops to 6.1% in May, lower than expected
Annual consumer prices in the Eurozone rose by 6.1% YoY in May, down from 7% in April.
UK house prices continue to fall in May, Nationwide reports
UK average property prices were 3.4% lower compared to the previous year, accelerating the annual fall of 2.7% in April.
UK CPI inflation eases to 8.7% but food inflation still close to 20%
The headline CPI figure slowed down to 8.7% in April, from 10.1% in March, while core inflation accelerated to 6.8%, from 6.2%
US PCE inflation slows further in March with looming recession concern
US PCE price index decelerated further in March with the year over year rate dropped to merely 4.2%, down from 5.1% in February.
UK inflation remains above 10% as food prices continues rapid rise
The UK CPI rose 10.1% in the year to March, still remain in double digits even though analysts expected the annual rate to fall to 9.8%
US CPI decelerates further in March to close 2 year low
Consumer price index grew for March 5% over the past year, reaching the lowest level since May 2021. Nonetheless, Core CPI recorded a 5.6% increase, up from 5.5% in February.
Resilient US job market continues easing trend
Non-farm payroll booked an increase of 236,000 in March, a further deceleration from February's 326,000, which was revised upward from the preliminary figure of 311,000, according to the Bureau of Labor Statistics' establishment survey.
US inflation eases further in February as energy prices drop, PCE index shows
Inflation in the US showed further signs of easing as the yearly growth of core PCE price index slowed to 4.6% in February, while the headline number increased by 5%.
Fed-preferred PCE price index accelerated in January
Core PCE inflation rose 4.7% in January YoY, beating expectation of 4.4% increase. The Fed-preferred price index rose 0.6% MoM compared to the market expectation of 0.5%.
Market sees Bank of England to raise rate to 4% by May
The financial market expecting the UK policy interest rate UK will break 4% by May, more than double the current level of 1.75%. Financial Times reported.
The sizes of Sept rate hike to be decided on upcoming data, Fed officials...
Ahead of Jay Powell's keynote speech in Jackson Hole on Friday, two Fed officials said more rate hikes are still warranted, but they said it's too early to decide on the size rate increase yet.
US bans energy imports from Russia
"Russian oil will no longer be acceptable at US ports," President Biden said.
World Bank seeks to provide further USD 350 million loans to Ukraine
The World Bank is aiming to fast track the process to provide Ukraine an additional USD 350 million loan in the next few days, or as soon as the end of this week, Reuters cited people familiar with the plans.
Sberbank’s European subsidiaries placed under payment moratorium amid sanctions
EU’s Single Resolution Board has enforced payment moratorium on three European subsidiaries of Russian bank Sberbank, which is under US-led sanction, and is accessing whether any resolution action would be need to to protect public interest.
How to benefit from others’ QE — Hong Kong Linked Exchange Rate’s lesson
What if I tell you, behind the boring news headline, there is actually a wonkish story about how the Hong Kong central bank took advantage of the monetary easing by the Fed in the last 12 year and created a new set of policy options that it can now use to actively mange the inflows created by the new round Fed easing under the Great Lockdown.
ECB on impact of Coronavirus
Luis de Guindos, vice president of the European Central Bank, depicted the coronavirus as an additional " layer of uncertainty to global and euro area growth prospects," in his speech at the European Economics and Financial Centre on March 3.
Helicopter Money is here in Hong Kong? Well…
“The money helicopter has arrived,” Claire Jones writes in her FT Alphaville post, citing Hong Kong Finance Secretary’s announcement of a handout of HKD...
How often companies in Eurozone change their prices?
An ECB survey found that the retailers review and change their prices most often, while consumer and business service firms adjust their pricing the least often. Firms in the manufacturing sector, meanwhile, have a price adjustment frequency somewhere in between the above sectors
The repo spike is not liquidity crisis; it is a crisis for Fed’s floor...
The floor system needs a cap on top of it. The sooner the Fed realizes it, the better they will be prepared for the coming financial turmoil.
When will Hong Kong’s Interest Rates Align With the US?
If you think the interest rate gap between Hong Kong and US is a market phenomenon, think again. HK Monetary Authority has a much bigger role than you think
Signs of Eurozone Recession is More Apparent
The latest Purchasing Manager Index (PMI) for the two largest economies, Germany and France, is showing a clear sign of looming recession.
Japan’s Inflation Rate is still Far From BOJ’s 2 Percent Target
Japan's core inflation rate was on 0.7 percent in February, remaining distant from the Bank of Japan's 2 percent target.
Americans have not been this optimistic about their financial situation — for the last...
69% of American is financially optimistic, reaching the highest level for the last 16 years.
Germany’s GDP Data might have been Distorted by Questionable Data
Germany's GDP data for 2018 might have been distorted by some questionable data provided by the pharmaceutical manufacturing industry.
OECD governments borrowing expected to hit record $11tn
Gross borrowing of OECD governments from the markets is set to surpass $11tn this year. This would be a new record, above the current record of $10.9 trillion set in 2010.
Derivatives’s Credit Terms in Eurozone Tighten Further
The latest SESFOD shows that the credit terms offered to counterparties for both securities financing and OTC derivative transactions is further tightened.
Most of China’s Foreign Currency Credit are in USD
According to the data from BIS global liquidity indicators, as of September 2018, most foreign currency credits to China is still denominated with US dollar.
The Rise of Non-Bank US Dollar Credit Continues
The latest BIS global liquidity indicators showed that the share of Non-bank USD denominated credit continued its rising trend.
