Consumer inflation in Japan’s capital rises at fastest pace in 40 years

Tokyo Nov core CPI up 3.6% vs f’cast +3.5% Tokyo CPI stays above BOJ’s 2% target for 6th straight month Data underscores broadening inflationary pressure TOKYO, Nov 25 (Reuters) – Core consumer prices in Japan’s capital, a leading indicator of nationwide trends, rose at their fastest annual pace in 40 years in November and exceeded … Read more

US weekly jobless claims at 3-month high; equipment spending resilient

Weekly jobless claims increase from 17,000 to 240,000 Continuing claims rise 48,000 to 1,551 million Core capital goods orders rebound 0.7% in October Shipments of core capital goods surge 1.3% WASHINGTON, Nov 23 (Reuters) – The number of Americans filing new claims for jobless benefits increased to a three-month high last week amid rising layoffs … Read more

Europe to be hit hardest in global slowdown -OECD

Global growth seen falling from 3.1% in 2022 to 2.2% in 2023 National outlooks vary widely, with UK lagging other economies Central banks urged to keep hiking interest rates PARIS, Nov 22 (Reuters) – The global economy should avoid a recession next year but the worst energy crisis since the 1970s will trigger a sharp … Read more

Japan’s inflation hits 40-year high as BOJ sticks to easy policy

Japan CPI +3.6% yr/yr vs forecast +3.5%, highest since 1982 Bulk of price hikes due to cost-push inflation, unsustainable BOJ sees consumer inflation falling below 2% next fiscal year TOKYO, Nov 18 (Reuters) – Japan’s core consumer inflation accelerated to a 40-year high in October, driven by currency weakness and imported cost pressures that the … Read more

UK economy shrinks at start of feared long recession

GDP in Q3 -0.2% q/q vs Reuters poll -0.5% Sept economic output -0.6% m/m vs poll -0.4% GDP in July and August revised up Economists still see UK going into recession Finance minister predicts “tough road ahead” LONDON, Nov 11 (Reuters) – Britain’s economy shrank in the three months to September at the start of … Read more

China’s trade unexpectedly shrinks as COVID curbs, global slowdown jolt demand

China’s Oct exports, imports shrink unexpectedly Frail data further blow to struggling economy Global recession risks, COVID curbs in China darken outlook Analysts expect further weakness in exports and imports BEIJING, Nov 7 (Reuters) – China’s exports and imports unexpectedly contracted in October, the first simultaneous slump since May 2020, as a perfect storm of … Read more

US job growth seen smallest in nearly two years in October, unemployment rate up

Nonfarm payrolls forecast increasing 200,000 Unemployment rate seen rising to 3.6% from 3.5% Average hourly earnings expected to gain 0.3% WASHINGTON, Nov 4 (Reuters) – US employers likely hired the fewest workers in nearly two years in October and increased wages at a moderate pace, suggesting some loosening in labor market conditions, which would allow … Read more

Bank of England raises rates by most since 1989 even as long recession looms

Central bank raises Bank Rate to 3% from 2.25% BoE tells investors their rate hike bets look too big Sterling falls nearly 2% against US dollar New forecasts show recession lasting into 2024 Government due to set out fiscal plans on Nov. 17 LONDON, Nov 3 (Reuters) – The Bank of England raised interest rates … Read more

Japan spent record $42.8 bln in October interventions to prop up yen

Yen weakened to 32-year lows at time of suspected intervention Japan used ‘stealth’ approach to intervention in October Data eyed for clues on Japan’s willingness to spend on FX TOKYO, Oct 31 (Reuters) – Japan spent a record $42.8 billion on currency intervention in October to prop up the yen, the finance ministry said, with … Read more

Europe’s debt market strains force some governments to rework trading rules

Oct 31 (Reuters) – Some euro zone countries have eased rules for the banks that manage the trading of their government debt to help them cope with some of the most challenging market conditions in years, officials told Reuters. Out of 11 major euro area debt agencies Reuters contacted, officials in the Netherlands and Belgium … Read more