New Zealand October card spending rose 0.4%. RBA monetary policy statement, repeats monetary policy appropriate ‘for the time being.’ Cuts 2013 GDP outlook to 2.25%-3.25%. President Obama to make speech on economy tomorrow. Summers says Europe situation more grave than … Continue reading
Recent Articles by Ed Thomas
fell to 39.7 (survey 39.5, prior 40.1) TOKYO, Nov 9 (Reuters) – Japanese consumer confidence deteriorated in October, a Cabinet Office survey showed on Friday, in a sign that economic uncertainty weighed on sentiment. The survey’s sentiment index for general … Continue reading
China’s Communist Party is to stick “unswervingly” to state control over Asia’s largest economy, dashing hopes for deep free-market reform over the next decade.- The Telegraph
Lawmakers cut planned 2013 federal deficit to EU 17.1 billion. Net federal borrowing cut EU 1.7 billion. German 2013 federal spending pegged at EU302.2 billion. bloomberg headline.
Says he concerned Fed may inflate asset price bubble. Says it’s unlikely Fed will extend ‘operation twist’. Could decide to purchase other assets if it decides not to continue ‘operation twist’. Unemployment claims suggest continued improvement. Doesn’t see ‘increased tolerance … Continue reading
Republicans have declared Miss Florida the winner.
In case you missed it (because I did) the BOK left their key interest rate unchanged at 2.75% as expected. In the meantime AUD/USD moving higher towards 1.0400 before the China CPI/PPI numbers in a few minutes.
Says recent research suggest U.S. monetary policy may be considerably easier than commonly thought. US monetary policy may also be substantially easier than policy recommended by common policy rules. Research estimates US monetary policy may be 300 basis points lower … Continue reading
Cuts 2013 GDP outlook on weaker mining, fiscal tightening. Demand surge could boost inflation as A$ effects wane. Sees gradual fall in bulk commodity prices in longer term. Sees 15% terms of trade drop by year-end vs 2011 peak. Says … Continue reading