New Zealand's terms of trade down 3.7% in Q3

Nov 30, 2015 23:32 pm UTC| Commentary

New Zealands terms of trade, the ratio of export to import prices, fell by 3.7% in the September quarter. This was a slightly larger decline than the forecast of -2%. The index is now almost 8% below the peak reached in...

Japan's new “core” CPI measures debuted

Nov 30, 2015 23:05 pm UTC| Commentary

The BoJ posted preliminary Measures of underlying inflation charts on its website this week; the final readings will be available for download on December 2. These charts are not new, as they were included in the BoJs...

US consumer spending slows into 4Q

Nov 30, 2015 22:31 pm UTC| Commentary

US real consumer spending growth has reached 3.0% or higher in five of the last six quarters but slowed to a 2.1% saar pace over the past three months with increases of only 0.1% samr in both September and October. Part of...

Japan industry looking better

Nov 30, 2015 22:21 pm UTC| Commentary

Japan is an important part of an expected Asian pickup in manufacturing and the news on this front is positive. Following the last weeks stronger-than-expected October real export reading, this weeks incoming data...

Currency War Series

Brazil's COPOM to keep policy rates stable

Nov 30, 2015 22:17 pm UTC| Commentary Central Banks

Last week brought renewed uncertainty on the Brazilian policy outlook. A new round of arrests in the Carwash probe raises questions about the feasibility of passing fiscal measures. At the same time, COPOM delivered a...

German inflation rate rose slightly to 0.4% in November

Nov 30, 2015 21:48 pm UTC| Commentary

The inflation rate in Germany rose slightly to 0.4% in November, as expected, compared to 0.3% in October. Food prices for example, at 2.3% year-on-year, increased at a noticeably sharper rate than in October. On account...

Russia's sanctions on Turkey to weigh on growth prospects and delay CBR cuts

Nov 30, 2015 19:55 pm UTC| Commentary Central Banks

The deterioration of trade relations between Russia and Turkey will likely be more detrimental to the Turkish economy. Turkeys Russia related trade income is approximately USD15-16bn (or c.2% of GDP), including exports of...