• Tuesday, December 1, 2015 - 20:00 Fed Gov Brainard: FFR Likely to Follow Gradual, Shallow Path 0

    By Karen Mracek

    WASHINGTON (MNI) - With the longer-run neutral interest rate likely lower than it was before the financial crisis, Federal Reserve Board Governor Lael Brainard said Tuesday the U.S.

  • Tuesday, December 1, 2015 - 19:01 UK November Shop Price Deflation Hits Joint Record Low- BRC 0

    -UK November BRC Shop Price Index -0.2% m/m; -2.1% y/y

    LONDON (MNI) - UK shop price deflation fell to its joint lowest point on record in November, as non-food prices fell sharply.

    The British Retail Consortium/Nielsen November Shop Price Index shows prices fell 0.2% on the month after a flat reading in October. Measured on the year basis, prices fell 2.1%, a steeper rate of decline than the 1.8% fall seen in October.

    The November reading was the joint lowest on record alongside the March reading.

    The annual fall means shop prices have now fallen on an annual basis for 31 consecutive months.

    Food deflation slowed marginally, with prices falling 0.3% on the year compared to a 0.4% drop in October...

  • Tuesday, December 1, 2015 - 17:11 Canada Parliamntary Budg Officer:Gov Budg Outlk Too Optimistic 0

    By Yali N'Diaye

    OTTAWA (MNI) - Canada Parliamentary Budget Officer Tuesday challenged the new Liberal government budget outlook for fiscal years 2019 through 2021, while presenting a slightly better shape of finances for 2015 through 2017.

    For 2015-16, the PBO sees a surplus of C$1.2 billion, compared with the government's C$3.0 billion deficit forecast. For 2016-17, the projections are rather similar, with the PBO expecting a deficit of C$3.0 billion vs. -C$3.9 billion for the government.

    For the subsequent years, however, the PBO is less optimistic about the shape of Canada's public finances, as it expects deficits to be increasingly wider than what the government anticipates.

    For 2017-18, PBO sees a C$4.7...

  • Tuesday, December 1, 2015 - 16:46 Tuesday's Top Stories in the United States 0

    * While preferring a later liftoff of policy interest rates, Chicago Federal Reserve President Charles Evans Tuesday praised the patience of Federal Reserve policymakers and called for only very gradual hikes once rates start to rise. "I think the economy is strong enough that very gradual increases would be consistent with economic growth," Evans told reporters following a speech to the Lansing Regional Chamber of Commerce. Evans maintained his position that a December hike in the feds funds rate would be premature given current inflation data. However, he continued to emphasize the rate at which the Federal Open Market Committee raises rates over the medium term concerns him more than the timing of the initial liftoff.

  • Tuesday, December 1, 2015 - 16:34 US Highway Bill Accord Renews Ex-IM, Taps Fed Twice For Funds 0

    --Congressional Leaders Announce 5 Year $305B Package
    --Bill Taps Fed's Capital Surplus Account, Cuts Dividend

    WASHINGTON (MNI) - House and Senate leaders formally announced Tuesday an agreement on a five-year $305 billion surface transportation bill that is expected to begin moving through Congress this week.

    The bill also renews the dormant Export-Import Bank.

  • Tuesday, December 1, 2015 - 15:59 BOC State of Play: Weak Sept GDP Raises Downside Risk to 4Q 0

    By Yali N'Diaye

    OTTAWA (MNI) - While the 2.3% 3Q annualized GDP growth was in line with analysts' expectations, albeit slightly below the Bank of Canada's 2.5% projection, the weaker-than-expected ending in September raised downside risks to the central bank's fourth quarter expectation of a 1.5% GDP growth.

    To be sure, estimates for 2Q and 1Q were revised up to -0.3% from -0.5% and -0.7% from -0.8%, respectively, Statistics Canada reported Tuesday, making 3Q rebound a welcome development that was widely expected.

    Still, September's contraction raised questions about the sustainability of the rebound as oil prices remain persistently low.

    The September GDP figure by industry was especially disappointing as it...