• Friday, March 22, 2019 - 14:18 MNI POLICY:Pressure Builds on BOC To Stay On Hold All Of 2019 0

    By Yali N'Diaye

    OTTAWA (MNI) - Pressure, both external and domestic, has intensified on the Bank of Canada to leave its policy rate unchanged through the end of this year, following the example of other central banks, specifically the Federal Reserve.

    On the domestic front, inflation remains well below the 2.0% target even as Statistics Canada reported Friday that total CPI ticked up to 1.5% year-over-year in February from 1.4% in January. Lower gasoline prices (-11.9% year-over-year) remained the top downward contributor, and CPI excluding gasoline rose 2.1% in February, the same pace as in January.

    However, the BOC's preferred measures of underlying inflation continued to show little sign of upward pressure.

  • Friday, March 22, 2019 - 10:12 MNI DATA IMPACT: US January Wholesale Inventories Rise 1.2% 0

    --Jan Wholesale Sales Up 0.5%; Inv/Sales Ratio Rises To 1.34
    --Business Sales Tracking +0.1%

    WASHINGTON (MNI) - January wholesale inventories increased by 1.2%, vs. +0.1% expected by both a Bloomberg consensus and an MNI survey of analysts, while wholesale sales were up 0.5% in the month, data released by the U.S. Commerce Department Friday showed.

    Retail trade sales, those excluding food services sales, were already reported up 0.2% in January's retail sales release, while factory shipments fell 0.4%, so an MNI calculation sees business sales tracking for a 0.1% gain.

    Factory inventories were already...

  • Friday, March 22, 2019 - 08:51 MNI DATA IMPACT:Canada CPI Ticks Up to +1.5% Y/Y; Core Down 0

    By Yali N'Diaye

    OTTAWA (MNI) - The following are the key points from the February data on the Canadian CPI released Friday by Statistics Canada:

    - Headline unadjusted CPI rose 0.7% on the month, more than the 0.6% gain expected by analysts in a MNI survey, with all the eight major components recording an increase. On a seasonally adjusted basis, CPI was up 0.3% on the month, and 0.2% excluding food and energy.

    - The monthly boost came in large part from gasoline prices, which were up 1.9%, their first monthly increase since July 2018. CPI excluding gasoline rose 0.6% on the month, the largest gain in a year.

  • Friday, March 22, 2019 - 08:35 MNI DATA IMPACT: Canada Jan Retail Sales -0.3%,Below Expected 0

    By Courtney Tower

    OTTAWA (MNI) - The following are the key points from the January data on retail sales released Friday by Statistics Canada:

    - Canadian retail sales decreased 0.3% to C$50.1 billion in January, largely on a 1.5% drop in sales of motor vehicles and parts and essentially due to price changes rather than volume changes. Analysts in a MNI survey and in a BBG consensus had expected a 0.4% gain. The estimate for December was revised down to -0.3% from -0.1%.

    - Retail sales excluding motor vehicles and parts were up 0.1%. And total sales by volume were unchanged.

    - The decrease in total sales for the third straight month had not been seen since the three-month decline in April-June 2012....

  • Thursday, March 21, 2019 - 20:15 MNI POLICY: Japan Feb CPI Rise Slows; BOJ Caution Intact 0

    --Japan Core CPI Up 0.7% y/y In February Vs. +0.8% in January

    TOKYO (MNI) - The Bank of Japan's outlook on prices remains cautious as the latest data confirmed the country remains locked in a low inflation environment.

    Japan's nationwide core consumer price index rose 0.7% on year in February, decelerating from 0.8% in January. Core CPI rise was expected to come in at +0.8% on year (vs.

  • Thursday, March 21, 2019 - 08:30 MNI DATA IMPACT: Canada Wholesale Sales +0.6%; Ex Autos +1.2% 0

    By Yali N'Diaye

    OTTAWA (MNI) - The following are the key points from the January data on the Canadian wholesale sales released Thursday by Statistics Canada:

    - Total wholesale sales rose 0.6% in January to C$63.5 billion, the largest gain since October 2018. The monthly advance lifted the 12-month growth rate to 1.8% from 1.7%. December was unrevised at +0.3%.

    - Details of the report were generally robust, with widespread gains across sectors and regions. Sales increased in five of 7 subsectors, representing 70% of total wholesale trade. Regionally, sales were up in 7 provinces, representing 90% of wholesale trade.