Eurostat, the European Union's statistical office, released figures moments ago showing that annual inflation in the Eurozone rose to 2.9% in July, up from 2.8% in June, matching market expectations. The largest contributor to inflation in July was the energy sector, which jumped 10.0% after growing 8.5% in June. Services rose 3.3% from 3.2% in June, while the food, alcoholic...
At its meeting that concluded this morning, Friday, July 31, the Bank of Japan decided to maintain its monetary policy and interest rates unchanged. Members voted 8-1 to keep interest rates at 1%, as expected, following a 25-basis-point increase in June. Member Hajime Takata favored raising the rate to 1.25%, citing the risk of rising inflation. The Bank of Japan's...
The Bank of England, by a majority vote of 6-3, decided to maintain its monetary policy and keep interest rates unchanged at 3.75%, as expected, at its meeting earlier today, Thursday, July 30th. This marks the fifth consecutive meeting where the rate has been kept at 3.75%. Three members voted to raise the rate by 25 basis points. The Bank's...
At its meeting, which concluded moments ago, the US Federal Reserve decided, by a majority vote of 7 to 3, to keep interest rates unchanged at 3.75%, as expected, for the fifth consecutive meeting. Three members favored raising the rate by a quarter of a percentage point. The statement indicated that economic activity is showing strong growth despite increased...
Figures released this morning, Wednesday, July 29, during the Asian session by the Australian Bureau of Statistics (ABS) showed that consumer price inflation rose to 3.8% year-on-year in June, compared to 4% in May. This was slightly below expectations, as the May reading remained unchanged. On a monthly basis, the index fell by 0.1%, compared to a 0.7% decline in...
New orders for durable goods rose in June, according to a report released moments ago by the US Census Bureau. The increase was $1.1 billion, reaching $334.8 billion, a rise of 0.3%, compared to a revised 4% decline in May. Expectations had been for a 1.6% increase. Meanwhile, core orders, excluding transportation, rose 0.6% in June, compared to a 1.4%...
The IFO business confidence index in Germany rose in July to 86.6, up from 85.7 in June, exceeding market expectations. The index, which surveys nearly 9,000 German companies, showed improvement as businesses expressed optimism about the current situation and improved expectations for the coming months. Specifically, the current situation index rose to 86.5 from 87.0 in June, while the expectations...
Data released at the start of the European session on Thursday, July 24, showed improvement in most services and manufacturing PMI indicators for the Eurozone and the UK in July. The Eurozone services PMI rose to a five-month high of 51.6 in July, compared to 49.4 in June (expected 49.0). Meanwhile, the manufacturing PMI climbed to a three-month high of...
Australian unemployment remained unchanged in June at 4.4%, according to figures released by the Australian Bureau of Statistics (ABS) at the start of Asian trading on Thursday, July 23. This figure matched market expectations, coinciding with a rise in the labor force participation rate to 67% from 66.7%. The Australian economy added 76,300 jobs in June, bringing the total number...
The UK's Consumer Price Index (CPI), which measures inflation, rose by 2.6% in May, according to data released by the Office for National Statistics (ONS) on Wednesday morning, July 22. This represents a slowdown from April's 2.8% and falls short of expectations of 2.7% growth. On a monthly basis, the CPI rose by 0.1% in May, following a 0.3% increase...