Asian markets closed mostly higher at the end of trading on Monday, September 22, the opening session of the week. Chinese indices turned from red to higher, with the exception of the Hang Seng Index, after the People's Bank of China decided to keep interest rates unchanged for the fourth consecutive month. Japanese indices rose after absorbing the Bank of...
Data released by Statistics Canada just moments ago showed retail sales falling 0.8% in June to $69.6 billion, following a revised 1.6% increase in June. Expectations were for a 0.6% decline, driven by declines in department store sales. Core retail sales, excluding gas stations and motor vehicle and parts stores, fell 1.2% in July after a 2.2% increase in May's...
The Bank of Japan decided at its meeting, which concluded this morning, Friday, September 19, to keep monetary policy and interest rates unchanged. The board voted 7-2 to maintain interest rates at 0.50%, as expected, while two members voted to raise interest rates by 25 basis points and set guidelines for money market operations. Regarding the ETFs and Japanese Real...
The Bank of England voted 7-2 to keep interest rates unchanged at 4%, as expected, at its meeting moments ago today, Thursday, September 18, while two members favored a 25 basis point cut. The Committee also voted 7-2 to reduce the stock of UK government bond purchases allocated for monetary policy purposes by £70 billion over the next 12 months,...
Australia's unemployment rate stabilized at 4.2%, according to figures released by the Australian Bureau of Statistics (ABS) at the beginning of the Asian session today, Thursday, September 18, unchanged from the July reading and in line with market expectations, despite a decline in the labor force participation rate to 66.8% from 67.0% in July. The Australian economy lost an estimated...
The US Federal Reserve decided, during its meeting, which concluded moments ago today, Wednesday, September 17, to cut interest rates by 25 basis points to 4.25%, as expected. This is the first cut this year, with all members voting with the exception of Stephen Miller, who favored a 50 basis point cut. The bank's members raised their economic growth forecasts...
The Bank of Canada cut its overnight interest rate target by 25 basis points to 2.50%, as expected, after keeping it unchanged at the last three meetings. The bank's benchmark interest rate now stands at 2.75% and its deposit rate at 2.45%. The bank's report stated that economic growth is beginning to show signs of slowing after remaining resilient in...
The US Federal Reserve will announce its monetary policy for the fourth quarter of the year at the end of the US session on Wednesday, September 17. The bank is expected to cut interest rates by 25 basis points to 4.25% for the first time this year. Markets began pricing in a rate cut at the Jackson Hole symposium in...
The Consumer Price Index (CPI), a measure of UK inflation, rose to 3.8% year-on-year in August, unchanged from the July reading expected, according to data released by the Office for National Statistics (ONS) this morning, Wednesday, September 17. On a monthly basis, the CPI rose by 0.3% in August, compared to a rise of approximately 0.1% in July. The core...
Canada's Consumer Price Index (CPI) grew by 1.9% year-on-year in August, according to figures released just a few moments ago, up from July's 1.7%. The core CPI, which excludes gasoline prices, rose to 2.4% year-on-year, up from 2.5% in the previous three months. On a monthly basis, the index fell by 0.1% in August after growing by 0.3% in July,...