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  • 2019-10-18 03:33


    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 developments of overseas economies affect Japan's

  • 2019-10-17 21:19


    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 inflation rate measured by the core-core CPI (excluding fresh foo

  • 2019-10-17 16:20


    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.

  • 2019-10-17 08:30


    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.

  • 2019-10-17 05:01


    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.

  • 2019-10-16 11:07


    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.

  • 2019-10-15 15:18


    WASHINGTON (MNI) - Retail sales are expected to rise at a slightly slower rate in September with consumer spending still driving the U.S. economy through a global slowdown. Here are some highlights to look out for:

    -Sales are expected to rise 0.3% in September according to the Bloomberg median, following a 0.4% increase in August. New and used vehicle prices dropped in September, likely keeping September auto sales high. However, falling gasoline prices should drive down gas station spending, which could hold down the headline number.

    - Expected monthly rise would be the seventh in a row.

  • 2019-10-15 09:00


    --IMF Urges Undoing Trade Barriers, Fiscal Support

    WASHINGTON (MNI) - The International Monetary Fund downgraded its 2019 global growth forecast to 3%, the slowest since the global financial crisis, in the face of what it described as a "synchronized slowdown" prompted by rising trade barriers and uncertainty, as well as low productivity growth in the rich world.

    In its October World Economic Outlook, the IMF also cut its growth forecast for 2020 by 0.2 percentage point to 3.4%, noting that next year's improved performance would not be "broad based and is precarious," with advanced economy growth stuck at 1.7%.

  • 2019-10-15 08:30


    --BOE Vlieghe: Economic Slack Likely Rising
    --BOE Vliege: More Stimulus Likely If Brexit Uncertainty Persists

    LONDON (MNI) - Bank of England Monetary Policy Committee member Gertjan Vlieghe said that the UK's underlying growth rate appeared to be close to zero and that if Brexit uncertainty persists more stimulus would likely be needed.

    Vlieghe, speaking at a Money and Macro Forum event, also said that more stimulus would likely be needed if there was a no-deal Brexit. A Brexit deal that was able to provide sufficient clarity for business to invest may, however, be enough to ward off further easing.

    Following are key points from the speech:

    --"A range of ...

  • 2019-10-15 01:48


    --BOJ: 1 Out of 9 Regions Up Economic Assessment From July
    --BOJ: 8 Regions Keep Econ View From July; Recovery Intact

    TOKYO (MNI) - Japan's economy continues to either expand or recover in all nine regions, indicating limited impact from the sustained slowdown in overseas economies on domestic demand, the Bank of Japan's quarterly regional economic report showed Tuesday.

    "According to assessments from regions across Japan, all nine reported that their economy had been either expanding or recovering," the BOJ said.

    "The background to this was that domestic demand had continued on an uptrend, with a virtuous cycle from income to spending operating in both the corporate and household sectors, although exports, production, and business sentiment had been aff