• Thursday, November 15, 2018 - 14:00 MNI POLICY: Fed to Gather Outside Views on Policy Process 0


    By Jean Yung

    WASHINGTON (MNI) - The Federal Reserve said Thursday it plans to invite external stakeholders to review its policymaking processes next year in a broad outreach effort that appears similar to what some other central banks do from time to time.

    "With labor market conditions close to maximum employment and inflation near our 2 percent objective, now is a good time to take stock of how we formulate, conduct, and communicate monetary policy," Fed Chair Jay Powell said in a press release.

    The Fed will organize a research conference June 4-5, 2019 at the Chicago regional bank as well as host a series of public events around the country to hear from a "broad range of interested stakeholders," the central bank said...

  • Thursday, November 15, 2018 - 10:05 MNI: Canada Home Resales -1.6% in October, M/M Prices Down 0


    By Yali N'Diaye

    OTTAWA (MNI) - Existing home sales declined for the second consecutive month in October, when they fell 1.6% after edging down 0.2% in September, The Canadian Real Estate Association reported Thursday, reflecting divergent movements.

    As the government introduced tighter mortgage underwriting rules in January, existing home sales contracted in the first four months of the year, before stabilizing over the following four months through August.

  • Thursday, November 15, 2018 - 04:30 MNI DATA ANALYSIS: UK Oct Retail Slump on Fuel, House Goods 0


    -UK Oct total sales -0.5% m/m, +2.2% y/y in Sept -UK Oct non-fuel sales -0.4% m/m, +2.7% y/y in Sept -UK Oct retail prices +1.6% y/y; lowest since December 2016 -UK Q3 sales unchanged at +1.2% q/q; to add 0.06pp to GDP

    LONDON (MNI) - Retail sales volumes slumped in October, dampened by falling fuel purchases and a plunge in household good sales.

    Sales volumes decreased by 0.5% between September and October, falling well short of the median MNI median forecast of a 0.2% increase. On an annual basis, retail sales increased by 2.2%, compared to the MNI median gain of 3.0%.

  • Thursday, November 15, 2018 - 02:40 MNI 5 THINGS: UK Sep Retail Sales Could See Pre-Discount Lull 0


    By Jai Lakhani and Jamie Satchi

    LONDON (MNI) - UK retail sales fell in September, outpacing analyst expectations, down 0.8% m/m. However, conflicting survey data means ambiguity surrounds the October data, with no clear view as whether the release will bring further disappointment or not.

    Analysts foresee the latter, with the median estimate, taken from MNI's poll of forecasters, pointing to a 0.2% m/m rise in both total and ex-fuel sales.

    Below are five points we feel warrant attention.

    September Retail September Retail September Retail September Retail Sales Sales Sales Sales Incl. Fuel Incl. Fuel Excl. Fuel Excl...

  • Wednesday, November 14, 2018 - 23:40 MNI 5 THINGS: China Housing Prices Rise to 14-Month High 0


    BEIJING (MNI) - MNI highlights five key points from data on housing prices released by China's National Bureau of Statistics (NBS) on Thursday:

    - The average price of new homes in 70 major cities, excluding subsidized units, increased 9.7% y/y in October, accelerating from an 8.9% gain in September, marking the biggest rise in recent 17 months, according to MNI calculations. On a monthly basis, average prices for 70 major cities rose 1.0%, unchanged from September.

    - Gains in housing prices in the top 15 cities expanded in October. The average price of 15 cities rose 0.6% m/m, picking up from the 5-month-low of 0.4% recorded in September.

  • Wednesday, November 14, 2018 - 19:27 MNI POLICY: Fed's Powell: Every Meeting Live for Rate Hikes 0


    By Jean Yung

    WASHINGTON (MNI) - The Federal Reserve could raise interest rates at any of its eight calendar-year meetings now that its leader plans to hold a press conference after every meeting, Chair Jay Powell said Wednesday, adding he expects markets to gradually adjust their expectations accordingly.

    "Certainly, all meetings are live now, there's no question about it now," he told a forum in Dallas. "The market has got in the habit of us moving at press conference meetings" in March, June, September and December, but that will change starting next year. And "over time markets are going to have to get used to that."

    Powell also stressed that the Fed will be guided by incoming data in determining the timing and pace...