BOJ stayed on hold; government mulls fiscal stimulus

Nov 20, 2015 02:41 am UTC| Commentary

The Bank of Japan kept its QQE program unchanged yesterday. Governor Kuroda downplayed the recession worries, attributing the decline in 3Q GDP to a temporary adjustment in inventories. While acknowledging the weakness in...

Pay commission’s proposals pose a fiscal headwind in India

Nov 20, 2015 02:15 am UTC| Commentary

The Seventh pay commission tabled its recommendations yesterday, under which salaries/remuneration of government employees are reviewed once every ten years. If adopted, bulk of the impact will be absorbed by the FY16/17...

Philippines back to 6% growth

Nov 20, 2015 01:49 am UTC| Commentary Economy

Last weeks policy meeting reemphasised that Bangko Sentral ng Pilipinas is unlikely to loosen its monetary policy stance anytime soon. While CPI inflation is set to miss the official target this year, GDP growth momentum...

Canada's retail sales and CPI are out today

Nov 20, 2015 00:52 am UTC| Commentary

The economists are a tick above consensus for headline CPI (cons 1.0%). Core CPI is supported by seasonal increases in motor vehicles and clothing, outweighing a seasonal drop in travel services (-5%m/m). Core CPI should...

USD softened further overnight

Nov 20, 2015 00:29 am UTC| Commentary

USD softened further overnight (EUR/USD up to 1.0764, GBP/USD to 1.5337, AUD/USD to 0.7216, USD/JPY to 122.62, and USD/CAD to 1.3247). Nothing has fundamentally changed and expect any rally in EUR/USD up to 1.0870/90 (last...

UK economic forecasts should be little changed

Nov 20, 2015 00:13 am UTC| Commentary

In the July Economic and fiscal outlook, the Office for Budget Responsibility (OBR) forecast GDP growth of 2.4% in 2015, followed by 2.3% in 2016 then 2.4% each year from 2017-2020. Since then, the ONS has released the...

Mexico economy likely to have accelerated in Q3, and looks set to improve further

Nov 19, 2015 23:30 pm UTC| Commentary Economy

Mexicos economic activity has, in fact, surprised to upside in recent months considering the extent of slowdown in industrial production (particularly in the mining sector). The trade and IP numbers put supply-side growth...