Consumer inflation in Japan’s capital hits near 42-year high, keeps BOJ under pressure
Jan Tokyo core CPI rises 4.3% yr/yr vs f’cast +4.2%Tokyo core-core CPI up 3.0% yr/yr in JanuaryData highlights mounting inflationary pressureGovt fuel subsidies to moderate price gains from FebruaryTOKYO, Jan 27 (Reuters) – Core consumer prices in Japan’s capital, a leading indicator of nationwide trends, rose 4.3% in January from a year earlier, marking the […]
Strong U.S. economic growth expected in fourth quarter, outlook darkening
Fourth-quarter GDP forecast to increase at a 2.6% rateStrong consumer spending seen; other sectors to contributeWeekly jobless claims expected to rise moderatelyWASHINGTON, Jan 26 (Reuters) – The U.S. economy likely maintained a strong pace of growth in the fourth quarter as consumers boosted spending on goods, but momentum appears to have slowed considerably towards the […]
U.S. inflation roller coaster prompts fresh look at long-ignored money supply
NEW YORK, Jan 26 (Reuters) – The amount of money sloshing around the U.S. economy shrank last year for the first time on record, a development that some economists believe bolsters the case for U.S. inflation pressures continuing to abate.The Federal Reserve’s main measure of the nation’s money stock – known as M2 money supply […]
Splits emerge as U.S. House Republicans demand Biden negotiate on debt limit
WASHINGTON, Jan 25 (Reuters) – Republicans who control the U.S. House of Representatives are divided over how hard a line to take on the debt ceiling, but were united on Wednesday in demanding that Democratic President Joe Biden agree to negotiate on spending as part of any deal.Hard-line Republican conservatives, who have the power to […]
Gold eases off nine-month peak as U.S. dollar, yields gain
Holdings in iShares Silver Trust rose 4% on MondayU.S. 10-Treasury yields at near one-week peakJan 24 (Reuters) – Gold prices pulled back from a nine-month high on Tuesday due to a slight uptick in the dollar and U.S. bond yields, although hopes of slower interest rate hikes from the Federal Reserve underpinned the market.Spot gold […]
Explainer: Shutdown? Default? Washington’s risky new debt ceiling standoff
WASHINGTON, Jan 24 (Reuters) – Partisan brinksmanship in the U.S. Congress has made government shutdowns seem a routine part of governing in the past decade, but the current standoff in Washington over raising the $31.4 trillion federal debt ceiling is significantly riskier.WHAT IS A GOVERNMENT SHUTDOWN?Congress is supposed to pass detailed spending legislation for each […]
Japan higher rates expand debt pile, balanced budget seen delayed again
Japan fiscal estimates assume higher interest rates than beforeBOJ’s move to widen 10-yr target band heaps pressure on ratesJapan seen to lag FY2025 budget balancing target by one yearTOKYO, Jan 24 (Reuters) – Japan raised its estimates for long-term interest rates over the coming few years in government’s twice-yearly fiscal projections issued on Tuesday, following […]
Japan’s factory activity extends declines for third straight month – PMI
TOKYO, Jan 24 (Reuters) – Japan’s manufacturing activity contracted for a third straight month in January as export weakness persisted amid a worsening global outlook, a corporate survey showed on Tuesday.The au Jibun Bank flash Japan manufacturing purchasing managers’ index (PMI) was at a seasonally adjusted 48.9 in January, unchanged from the final reading in […]
ECB policymakers spar on rate outlook beyond Feb hike
Knot, Kazimir explicitly back 50 bps hike in MarchLagarde sees significant, steady pace rate riseStournaras, Visco call for cautionInflation high but fallingFRANKFURT/PRAGUE, Jan 23 (Reuters) – European Central Bank policymakers laid out diverging views on future interest rate hikes on Monday, suggesting that moves beyond next week’s half a percentage point increase remain contentious.The ECB […]
Japan warns of dire finances as BOJ struggles to contain yields
Japan’s finances intensified severity to unprecedented pointRounds of extra budget, stimulus measures aggravate financesPublic finance is the cornerstone of a country’s trust – finminEconomic revival comes first before fiscal reform in long runParliament debate begins, all eyes on new BOJ governor nomineeTOKYO, Jan 23 (Reuters) – Japan’s finances are becoming increasingly precarious, Finance Minister Shunichi […]