- — US inflation rises moderately, consumer spending cools
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at 7/26/24 3:00pmU.S. prices increased moderately in June as the declining cost of goods tempered a rise in the cost of services, underscoring an improving inflation environment that could position the Federal Reserve to begin cutting interest rates in September. The report from the Commerce Department on Friday also showed consumer spending slowed a bit last month. ...- — Fed seen on track for September rate cut after good inflation data
- at 7/26/24 3:00pmFederal Reserve policymakers on Friday got fresh evidence of progress on inflation, fueling expectations they will use the U.S. central banks meeting next week to signal they could start cutting interest rates in September. The personal consumption expenditures (PCE) price index edged up just 0.1% last month, the Commerce Departments Bureau of Economic Analysis reported, ...
- — China’s Third Plenum Highlights Efforts to Strengthen Fiscal Flexibility
- at 7/26/24 3:00pmReforms announced at the Third Plenum of the ruling Communist Party of China signal the government’s focus on greater fiscal flexibility, particularly in balancing revenue and expenditure between the central and local administrations. However, the credit effects will depend on how the changes are implemented, as well as on local governments’ willingness to exploit any ...
- — ECB’s cyber security test shows ‘room for improvement’ for banks
- at 7/26/24 3:00pmEuro zone banks have room for improvement in their cyber security, starting with how they would keep their business running after a hack, the European Central Bank said on Friday. The ECBs first ever cyber risk stress test was launched in response to a surge in attacks, some with possible geopolitical motives, and its results ...
- — China’s rate cuts sequence hints at reduced role for MLF
- at 7/26/24 3:00pmChinas latest series of rate cuts show the central banks monetary framework has changed, analysts said, with the short-term repo rate becoming the primary signal and a diminished role for its medium-term lending facility (MLF). CONTEXT The Peoples Bank of China (PBOC) surprised markets this week by first cutting several key rates including loan prime ...
- — Core inflation in Japan’s capital perks up, demand-driven price growth soft
- at 7/26/24 3:00pmCore inflation in Japans capital accelerated for a third straight month in July but an index gauging demand-driven price growth slowed, data showed on Friday, complicating the central banks decision on how soon to raise interest rates. The data comes ahead of the Bank of Japans two-day policy meeting that ends on Wednesday, when its ...
- — Italian consumer and manufacturing morale rise in July
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at 7/26/24 3:00pmMorale amongst Italian manufacturing and consumers rose in July, data showed on Friday, but the overall business confidence index fell for a fourth month running, hit by declines in the services and construction sectors. National statistics institute ISTATs manufacturing confidence index rose to 87.6 in July from 86.9 the month before, and above a median ... - — ECB likely to cut rates in September, former central banker says
- at 7/26/24 11:00amA September interest rate cut by the European Central Bank is very possible, though its future policy will remain data-dependent, a former deputy governor of the Irish central bank said. Stefan Gerlach, deputy governor at the Central Bank of Ireland between 2011 and 2015, said he expected euro zone inflation pressures to abate further which, ...
- — Euro zone consumers stopped lowering inflation expectations in June
- at 7/26/24 11:00amEuro zone consumers stopped reducing their inflation expectations in June after four consecutive monthly falls, a European Central Bank survey showed on Friday. The ECBs Consumer Expectations Survey is one input that central bankers from the euro zones 20 countries use to gauge whether the public has faith in their ability to bring down inflation ...
- — US GDP growth beats expectations, but fails to dent the market’s faith in rate cuts
- at 7/26/24 11:00amGDP and inflation beat expectations We’ve had a pretty solid set of US activity numbers today, but it isn’t having a major impact on market expectations for rate cuts, which are increasingly being seen as a done deal. GDP grew an annualised 2.8% in second quarter 2024, a little above our 2.5% forecast and more ...
- — US economic growth regains steam in second quarter; inflation slows
- at 7/25/24 3:00pmThe U.S. economy grew faster than expectedin the second quarter, but inflation subsided, leaving intact expectations of a September interest rate cut from the Federal Reserve. Gross domestic product increased at a 2.8%annualized rate last quarter, the Commerce Departments Bureau of Economic Analysis said in its advance estimate of second-quarter GDP on Thursday. Economists polled ...
- — China central bank surprises by lending again at lower rates
- at 7/25/24 3:00pmChinas central bank surprised markets for a second time this week by conducting an unscheduled lending operation on Thursday at steeply lower rates, suggesting authorities are trying to provide heavier monetary stimulus to prop up the economy. The medium-term lending facility (MLF) operation comes after the central bank cut several benchmark lending rates on Monday, ...
- — In a Trump win, economists see revived inflation and a more wary Fed
- at 7/25/24 3:00pmThe Federal Reserve’s battle to get inflation under control likely faces fresh challenges should Donald Trump regain the White House, a dynamic that could put the U.S. central bank back in the former Republican presidents crosshairs. A wide range of economists see Trumps tariff agenda, coupled with aims to deport millions of undocumented workers and ...
- — Eurozone loan growth shows signs of bottoming out
- at 7/25/24 3:00pmTiny improvement in loan growth Broad money (M3) growth in the eurozone accelerated to 2.2% year-on-year in June 2024, from 1.5% in May. This reflected a stable annual growth rate of adjusted loans to households of 0.3%, while the annual growth rate of adjusted loans to non-financial corporations increased to 0.7% in June from 0.3% ...
- — Can investors spur national oil companies toward methane action?
- at 7/25/24 3:00pmThe crucial role of national oil companies (NOCs) in reducing global methane emissions is becoming evident. At the 2023 United Nations Climate Change Conference COP28 in 2023, over 50 oil and gas companies, including 30 NOCs, pledged to cut methane emissions to near zero and end routine flaring by 2030. NOCs, which produce half of ...
- — South Korean GDP unexpectedly shrinks, boosting rate cut chances
- at 7/25/24 3:00pmSouth Koreas economy unexpectedly shrank in the second quarter, clocking the sharpest contraction since 2022 as slumping consumer spending undermined an export boom, reinforcing expectations that an interest rate cut could be imminent. Gross domestic product (GDP) for the April-June period fell 0.2% from a quarter earlier in seasonally adjusted terms, data from the Bank ...
- — German cabinet agrees to expand tax relief to boost economy
- at 7/25/24 3:00pmGermanys cabinet agreed on Wednesday to increase tax relief for companies and households to almost 21 billion euros per year to help bolster stuttering growth in Europes biggest economy. Germany was the worst performing major economy last year, with gross domestic product contracting by 0.3%. It skirted a recession at the start of the year ...
- — UK factories slash price expectations and raise output forecasts, CBI says
- at 7/25/24 3:00pmBritish manufacturers expectations for price rises in the next few months fell to their lowest since late 2020 and they ramped up forecasts for output too, a survey from the Confederation of British Industry showed on Thursday. The CBIs gauge of average prices for the next three months dropped to +2 from +20 in June, ...
- — Why we still expect a Bank of England rate cut in August
- at 7/25/24 3:00pmOur Bank of England preview in a nutshell • We expect a 6-3 vote in favour of a 25 basis-point rate cut on Thursday 1 August, though the meeting has become a close call. • The fall in market swap rates since the May projections point to modest upgrades to both growth and inflation in ...
- — Chinese banks cut deposit rates to relieve squeezed margins
- at 7/25/24 3:00pmFive of Chinas major state-owned banks on Thursday cut deposit rates to cushion a hit to their already record low margins after this weeks surprise lowering of lending benchmarks to bolster stuttering economic growth. Industrial and Commercial Bank of China (ICBC), Agricultural Bank of China (OTC:), China Construction Bank (OTC:), Bank of China and Bank ...
- — Japan govt maintains economic assessment, downgrades view on exports
- at 7/25/24 3:00pmJapans government on Thursday maintained its assessment on the economy but offered a bleaker view than last month on exports due to the fallout from slowing Chinese demand. Japans economy is recovering moderately, although it recently appears to be pausing, the government said in its monthly economic report for July, leaving unchanged the assessment from ...
As of 7/26/24 10:27pm. Last new 7/26/24 4:43pm.
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