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  • 2014-11-17 11:04


    LONDON (MNI) - European Central Bank President Mario Draghi said Monday that while growth momentum in the Eurozone economy had weakened since the summer months, the Bank nonetheless retains is baseline scenario of a modest recovery next year.

    Speaking to European lawmakers on the EP's Economic and Monetary Affairs Committee in Brussels, Draghi warned, however that the Bank should keep a close eye on growth and inflation dynamics, both of which were weighted with downside risks, and that he and his Governing Council colleagues with new policy measures if needed.

    "We need to remain alert to possible downside risks to our outlook for inflation, in particular against the background of a weakening growth momentum and continued subdued monetary and credit

  • 2014-11-17 10:49


    --Updates With Praet Comments From Q&A Following Speech

    LONDON (MNI) - European Central Bank Executive Board member Peter Praet said Monday that credit dynamics in the Eurozone have reached a 'turning point' and that the Bank's monetary policy response should have an increasing impact over the coming months.

    In prepared remarks for a speech on "Repairing the bank lending channel: the next steps" at Credit Suisse's European Macro Conference in London, Praet also said that he expected Eurozone lenders to increase their participation in the Bank's planned liquidity operations and that this, along with its programme of asset purchases, would help increase the ECB's balance sheet to early 2012 levels.

    "Many of the necessary conditions t

  • 2014-11-17 09:32


    WASHINGTON (MNI) - The Federal Reserve announced Monday that it will be hosting a meeting of 15 major global financial institutions and regulators from advanced economies to discuss crafting a preferable alternative to the tainted London Interbank Offered Rate.

    The meeting will take place today at the New York Federal Reserve Bank, and participants will discuss "the process for developing risk-free reference rate alternatives ... for use in future U.S.

  • 2014-11-17 09:30


    LONDON (MNI) - European Central Bank Executive Board member Peter Praet said Monday that credit dynamics in the Eurozone have reached a 'turning point' and that the Bank's monetary policy response should have an increasing impact over the coming months.

    In prepared remarks for a speech on "Repairing the bank lending channel: the next steps" at Credit Suisse's European Macro Conference in London, Praet also said that he expected Eurozone lenders to increase their participation in the Bank's planned liquidity operations and that this, along with its programme of asset purchases, would help increase the ECB's balance sheet to early 2012 levels.

    "Many of the necessary conditions to restart credit growth are now in place.

  • 2014-11-17 06:00


    --Should Let Previous Measures Work Before Mulling New

    FRANKFURT (MNI) - European Central Bank Executive Board member Yves Mersch said Monday that the expansion of the ECB's balance sheet is not an aim in itself and that there is no target.

    Speaking at the Euro Finance Week in Frankfurt, Mersch signalled that he would not support further easing measures in the near term noting that previously decided measures should be given time to take effect first.

    While affirming that full-blown quantitative easing was a theoretical possibility, Mersch sounded an extremely critical note on the issue.

    "The balance sheet expansion [as a result of asset purchases] is neither an end of itself nor a fetish," Mersch said underlining that ECB's meas

  • 2014-11-17 05:27


    --Should Let Previous Measures Work Before Mulling New

    FRANKFURT (MNI) - European Central Bank Executive Board member Yves Mersch said Monday that the expansion of the ECB's balance sheet is not an aim in itself and that there is no target.

    Speaking at the Euro Finance Week in Frankfurt, Mersch signalled that he would not support further easing measures in the near term noting that previously decided measures should be given time to take effect first.

    While affirming that full-blown quantitative easing was a theoretical possibility, Mersch sounded an extremely critical note on the issue.

  • 2014-11-16 22:07


    TOKYO (MNI) - Japan needs to secure funds to provide good social welfare services, which will support consumer spending and thus economic growth. However, the timing of raising the sales tax is crucial as the country is still in the midst of overcoming deflation, Economic and Fiscal Policy Minister Akira Amari said Monday.

    Prime Minister Shinzo Abe will "make a careful decision" from Tuesday onward as to whether to raise the 8% consumption tax further to 10% in October next year as planned, Amari told reporters after Q3 GDP unexpectedly contracted for the second straight quarter.

    "Whether the positive growth mechanism is working is important," he said. "We can't simply call the current state a recession."

    The government will take appropriate measures to ensure it w

  • 2014-11-16 20:15


    --Japan Q3 Real GDP -0.4% Q/Q; MNI Median +0.5%
    --Japan Q3 Real GDP -1.6% Annualized; MNI Median +2.2%
    --Japan Q3 GDP Posts 2nd Straight Q/Q Contraction
    --Japan Q3 Domestic Demand Contribution -0.5 Pct Point
    --Japan Q3 Net Export Contribution +0.1 Pct Point
    --Japan Q3 Consumption +0.4% Q/Q, +0.2 Point Contribution
    --Japan Q3 Capex -0.2% Q/Q, -0.0 Point Contribution
    --Japan Q3 Housing -6.7% Q/Q, -0.2 Point Contribution
    --Japan Q3 Private Inventory Contribution -0.6 Pct Point
    --Japan Q3 Public Investment +2.2% Q/Q, +0.1 Pt Contribution
    --Japan Q2 Real GDP Revised To -1.9% Q/Q From -1.8%
    --Japan Q2 Real GDP Revised To -7.3% Annualized From -7.1%
    --Japan Q3 Deflator +2.1% Y/Y Vs Q2 +2.0%
    --Japan Q3 Domestic Demand Deflator +2.4% Y/Y; Q2 +2.4%

    TOKYO (MNI) - Preliminary GDP for the July

  • 2014-11-16 18:06


    -Retail Sales May Remain Strong on Net Migration

    WELLINGTON (MNI) - Retail Sales data for the third quarter published by Statistics New Zealand Thursday:

    Q3 Q2

    -------------------------------------------------

    (%) (%) Retail Sales Q/Q +1.5 +1.1 (revised from +1.2) MNI Consensus +0.9 Core Retail Sales +1.4 +1.2 FACTORS: Retail sales rose 1.5% in the third quarter after a revised 1.1% increase in the second quarter owing largely to a lift in food-related retailing. Twelve of the 15 categories showed increases with the largest a 1.9% rise in supermarkets and groceries and a 3.0% rise in food-and-beverage services.

  • 2014-07-03 09:41


    --Payrolls Gain 288K; Unemployment Rate 6.1% (6.085% Unrounded)

    WASHINGTON (MNI) - The blowout June jobs numbers were above expectations on several levels despite weak construction, a tepid addition of temporary workers and a big surge in voluntary part-timers.

    Payroll jobs off the farm rose 288,000 in June and the unemployment rate improved another 0.2 point down to 6.1% - 6.085% - part of the 1.4 point decline in the past year, the Bureau of Labor Statistics reported Thursday.

    As strong as was the payrolls increase for June, after seasonal adjustment, it is overshadowed by April, now pulled by revision above 300,000, part of the 29,000 added by revisions for both April and May.