Information received since the Federal Open Market Committee met in June indicates that growth in economic activity rebounded in the second quarter. Labor market conditions improved, with the unemployment rate declining further. However, a range of labor market indicators suggests that there remains significant underutilization of labor resources. Household spending appears to be rising moderately […]
The Reserve Bank today increased the Official Cash Rate (OCR) by 25 basis points to 3.25 percent.
New Zealand’s economic expansion has considerable momentum, with GDP estimated to have grown by around 4 percent in the year to June. Global financial conditions remain very accommodative and are reflected in low long-term […]
Results of the Summer 2014 Survey
The summer Business Outlook Survey continues to offer some encouraging signs for the economic outlook, although lingering uncertainty amid intense competition still hinders the pace of growth.
Overall, the outlook of businesses has not changed materially from the spring survey. While responses suggest a more modest improvement in past […]
Bank of England governor Mark Carney said “The exact timing of that (increases in interest rates) will be driven by the data. But the most important aspect of the guidance that we’re giving is that our view is that the increases in rates over the forecast horizon, in our best estimation, will be limited and […]
The Ifo Business Climate Index for industry and trade in Germany fell to 109.7 points in June from 110.4 points last month. Assessments of the current business situation remained good, but companies were less optimistic about future business developments. The German economy fears the potential impact of the crises in the Ukraine and Iraq.
Statement by Glenn Stevens, Governor: Monetary Policy Decision
At its meeting today, the Board decided to leave the cash rate unchanged at 4.25 per cent.
Information becoming available since the December meeting confirms that economic conditions in Europe were weakening late last year, with risks still skewed to the downside. Reflecting this, most forecasters have […]
Even though Greek debt negotiations are still pressuring the euro in foreign currency market, disappointing U.S. economic data put doubts on the strength of the greenback. The latest Consumer Confidence Index figures released by the Conference Board showed that consumer confidence retreated in January, after large back-to-back gains in the final two months of 2011. […]
While Greek officials are talking with private creditors about reducing its debt before a key payment comes due in March, people are increasingly wondering that if the Greeks don’t want to help themselves, why others should. Some believe that a terrible end is better than a terror without end. Some economists say that it’s better […]
In the forex market, American dollar gained again the euro after mixed economic data. According to Commerce Department data, bookings for long-lasting goods advanced 3% after rising 4.3% the prior month, this is the biggest back-to-back gains in almost a year. Figures from the Commerce Department showed Purchases of single-family properties decreased 2.2% from the […]
The currency market is still very sensible to the news from the eurozone. The situation in Greece raised concerns as the country moves closer to the possibility of a chaotic default and the market pulled back, but it is not impacting the market as much as before. Yesterday we saw better than expected eurozone flash […]