• Friday, October 18, 2019 - 03:33 MNI POLICY: BOJ Amamiya: Must Eye Risks; To Act Appropriately 0


    TOKYO (MNI) - Bank of Japan Deputy Governor Masayoshi Amamiya said Friday the central bank needs to pay more attention to the risk that the momentum toward achieving the price stability target amid the heightened downside risks to the global economy.

    "We will manage monetary policy in an appropriate manner without holding any preconception, while re-examining various risks facing Japan's economy," Amamiya said at a credit union meeting.

    Exports remain weak and business sentiment among manufacturers turned to cautious clearly but domestic demand remains solid, he added.

    However, the deputy governor voiced concern over the outlook of Japan's economy, saying downside risks remain and the BOJ should carefully examine how...

  • Thursday, October 17, 2019 - 21:19 MNI DATA IMPACT: Japan Sep Core CPI Slows, Energy Costs Down 0


    TOKYO (MNI) - Japan's annual core consumer inflation rate slowed in September as energy costs turned lower on year, data from the Ministry of International Affairs and Communication released Friday showed.

    The key points from the latest CPI data:

    --The national average core consumer price index (excluding fresh food) rose 0.3% on year in September, slowing from 0.5% in August but in line with an MNI survey, recording a 33nd straight year-on-year rise.

    --The decelerating inflation rate was caused mainly by lower energy costs, which fell 1.9% on year in September, quicker than August's 0.3% drop.

    --Overall CPI rose 0.2% on year in September, also slowing from 0.3% in August.

    --The underlying...

  • Thursday, October 17, 2019 - 16:20 MNI POLICY: Fed's Williams: Can Adjust Bill Buying As Needed 0


    By Jean Yung

    WASHINGTON (MNI) - The Federal Reserve may adjust as needed its recently announced plan to purchase $60 billion of Treasury bills a month for the next six months, New York Fed President John Williams said Thursday.

    The bill purchases do not represent any change in the stance of monetary policy and "the goal is to make sure that the federal funds rate stays within the target range set by the FOMC," he said.

    "We will continue to learn about demand for reserves and other Federal Reserve liabilities and market functioning, and may adjust the specifics of the plan as appropriate," he said in remarks prepared for a financial market conference in New York.

  • Thursday, October 17, 2019 - 08:30 MNI DATA IMPACT: Canada August Factory Sales +0.8% on Autos 0


    By Greg Quinn and Anahita Alinejad

    OTTAWA (MNI) - Canadian factory sales climbed for the first time in three months as motor vehicle assembly plants resumed work after summer shutdowns, while a measure of inventories held close to the highest since the last recession a decade ago.

    Sales rose 0.8% from July, in line with the MNI median for a 0.7% increase. Sales had declined 1.3% in July and 1.5% in June, months marked by shutdowns at auto plants, metalworks and energy facilities.

    Motor vehicle sales climbed 2.6% in August following declines of 4.6% in July and 0.3% in June, Statistics Canada said Thursday from Ottawa.

  • Thursday, October 17, 2019 - 05:01 MNI DATA IMPACT: UK Consumers Defy Brexit Gloom 0


    By Laurie Laird and Irene Prihoda

    LONDON (MNI) - UK consumers continued to spend in the third quarter, defying the uncertainty of the looming exit from the European Union.

    The following are the key points from retail sales data published Thursday by the Office for National Statistics.

    - Retail sales increased by 0.6% in the third quarter, suggesting consumers were undaunted by headlines of a potential Brexit-related economic downturn. Retail activity is poised to all 0.03 percentage points to Q3 GDP growth.

    - The Q3 outturn matches the sales increase recorded in Q2, when consumer spending rose by 0.4%, adding 0.22 percentage points to GDP.

  • Wednesday, October 16, 2019 - 11:07 MNI POLICY: Fed's Evans Says Rates Are Close To Right Place 0


    By Evan Ryser

    WASHINGTON (MNI) - Federal Reserve Bank of Chicago President Charles Evans on Wednesday said interest rate policy is currently "in a good place" and that July and September rate cuts were appropriate given risks to the outlook.

    "I see that the economy today is generally in good shape and that policy is close to the right place, but there are risks that require our diligent attention," Evans said in prepared remarks given at the Greater Peoria Economic Development Council in Illinois.

    "I think policy is probably in a good place right now."

    "All told, the growth outlook is good, and we have policy accommodation in place to support rising inflation.