Inflation pushing down growth in US, Canada
According to Statistics Canada Real gross domestic product (GDP) edged up 0.1% in July, after a similar increase in June (+0.1%). Growth in goods-producing industries (+0.5%) was partially offset by a decline in services-producing...
Interest hikes left and right as banks fight inflation
The SNB (Swiss National Bank) is tightening its monetary policy further and is raising the SNB policy rate by 0.75 percentage points to 0.5%. In doing so, it is countering the renewed rise in...
Inflation causes worry, ECB and others to raise rates
The Bank of Canada increased its target for the overnight rate to 3¼%, with the Bank Rate at 3½% and the deposit rate at 3¼%. The Bank is also continuing its policy of quantitative...
In spite of good work numbers energies bump inflation
Per the US Department of Labor in the week ending August 27, the advance figure for seasonally adjusted initial claims was 232,000, a decrease of 5,000 from the previous week's revised level. The previous...
UK GDP down in June, US demand down as well
According to the UK Office for National Statistics Gross domestic product (GDP) fell by 0.6% in June 2022, after growth of 0.4% in May 2022 (revised down from 0.5%), and was up 1.9% in the 12 months to June 2022.
FOMC raises rate by 75 points, EU inflation rate up
As part of its policy decision, the Federal Open Market Committee voted to authorize and direct the Open Market Desk at the Federal Reserve Bank of New York, until instructed otherwise, to execute transactions...
ECB to join rate hiking believers club amidst inflation woes
The Governing Council decided to raise the three key ECB interest rates by 50 basis points
Australia raises rates, ECB inflation woes continue.
The Board of the Reserve Bank of Australia decided to increase the cash rate target by 50 basis points to 1.35 per cent. It also increased the interest rate on Exchange Settlement balances by...
EU inflation spearheaded by energy prices, US personal income better
Euro area annual inflation is expected to be 8.6% in June 2022, up from 8.1% in May according to a flash estimate from Eurostat
New Zealand raises rates, inflation up in the EU and the US
In New Zealand the Monetary Policy Committee increased the Official Cash Rate (OCR) to 2.0 percent. The Committee agreed it remains appropriate to continue to tighten monetary conditions at pace to maintain price stability...
