• Monday, July 15, 2019 - 21:44 MNI: BOJ Appoints Koji Nakamura As New York Head 0


    TOKYO (MNI) - The Bank of Japan said Tuesday it has been appointed Koji Nakamura as general manager for the Americas, to oversee U.S. economic and financial conditions from its New York branch office.

    Nakamura is a former deputy director-general of the BOJ's International Department and a former manager of the Bank's Matsumoto branch.

    Nakamura is also a former head of the financial system research division who compiled the Financial System Report at the BOJ Financial System and Bank Examination Department.

    --MNI Tokyo Bureau; tel: +81 90-2175-0040; email: hiroshi.inoue@marketnews.com
    --MNI London Bureau; tel: +44...

  • Monday, July 15, 2019 - 04:59 MNI DATA ANALYSIS: China Econ Shows Upside Amid Slowest Growth 0


    BEIJING (MNI) - China's economy decelerated to 6.2% y/y in the second quarter from 6.4% in Q1, lower than 6.3% projected by an MNI survey. It was the slowest since at least 1992 according to available official record. All other indicators however performed better than expected, giving policymakers confidence of achieving targets without excessive stimulus.

    With the first half of the year registering the GDP having expanded 6.3% y/y, only a growth below 5.8% in H2 would prevent China attaining the official annual target of 6-6.5%, said ANZ in a report.

  • Thursday, July 11, 2019 - 13:35 MNI POLICY: Fed Williams Flags Inflation Expectations Risk 0


    By Jean Yung

    WASHINGTON (MNI) - Inflation that is running below the Federal Reserve's 2% target risks dragging down inflation expectations and pushing inflation down further over the longer run, New York Fed President John Williams said Thursday.

    "If inflation stays too low, people will start to expect it to stay that way, creating a vicious cycle, pushing inflation further down over the longer term, and making it harder to achieve our goals through monetary policy," he said in remarks prepared for the University at Albany - State University of New York.

    He additionally warned that the slowdown abroad will dampen U.S.

  • Thursday, July 11, 2019 - 10:17 MNI POLICY: ECB Appoints New Supervisory Board Members 1


    By Luke Heighton

    FRANKFURT (MNI) - The Governing Council of the European Central Bank (ECB) has appointed three new members to its supervisory board.

    Edouard Fernandez-Bollo, Kerstin af Jochnick and Elizabeth McCaul will each serve a five-year non-renewable term, and will be responsible for planning and carrying out the ECB's banking supervision.

    Fernandez-Bollo is currently Secretary General of the Autorite de controle prudentiel et de resolution, the French national competent authority.

  • Thursday, July 11, 2019 - 09:45 MNI POLICY: Public Better Forecasters Than Markets: ECB Coeure 0


    By Luke Heighton

    FRANKFURT (MNI) - Household inflation expectations may be better predictors of future inflation outcomes than those of professional inflation forecasters, including those of financial markets, the European Central Bank's head of Market Operations said Thursday.

    There is "tentative evidence suggesting that household inflation expectations are better predictors of future inflation outcomes," Benoit Coeure said, as euro area consumers "become less likely to expect inflation outcomes that would be inconsistent with the ECB's definition of price stability."

    Here are the key points from the speech in Frankfurt:

    - Developments over the past year indicate that a growing gap has emerged between the...

  • Thursday, July 11, 2019 - 08:30 MNI CANADA IMPACT: Vancouver Home Prices Fall Most Since 2014 0


    By Greg Quinn

    OTTAWA (MNI) - Vancouver new home prices fell the most in almost five years, reflecting efforts by policy makers to prevent the market from overheating.

    Statistics Canada's index dropped 0.9 percent in May from a year earlier, the most since September 2014. On a month-over-month basis, prices fell 0.3 percent.

    In Toronto, the other city that has drawn concerns about a sudden correction, new home prices fell 0.3 percent in May from April and by 0.6 percent from a year earlier.

    The two cities together carry a weight of 43 percent of the national index, which declined 0.1 percent on the month and was unchanged from a year earlier. Prices were flat in the previous three months.