• Friday, May 22, 2015 - 21:25 US Senate Oks Trade Promotion Authority; House To Vote in June 0


    --Senate Approves Key Trade Bill In 62 37 Vote
    --Senate Adopts Amendment Urging Admin To Work On Currency

    WASHINGTON (MNI) - The Senate approved Friday night legislation to renew Trade Promotion Authority for the president, sending the bill to the House where it will be taken up next month.

    The Senate approved the TPA bill on a 62 to 37 vote.

    Due to parliamentary disputes, the Senate only voted on a handful of the 200 amendments that were filed to the bill.

    The Senate narrowly rejected a high profile currency amendment sponsored by Republican Sen. Rob Portman and Democratic Sen. Debbie Stabenow.

  • Friday, May 22, 2015 - 14:02 US Tsy's Lew To Greece PM: Must Reach Agreement W/Creditors 0


    WASHINGTON (MNI) - The following is the text of a readout provided by the U.S. Treasury Department, of a call between Secretary Jack Lew and Greece Prime Minister Alexis Tsipras Friday:

    U.S. Treasury Secretary Jacob J. Lew spoke with Greek Prime Minister Alexis Tsipras to discuss the latest economic developments in Greece. Secretary Lew noted that the Treasury Department continues to closely monitor developments in Greece and remains engaged with all parties involved.

  • Friday, May 22, 2015 - 14:00 IMF: BOJ Unlikely to Hit 2% Inflation Soon; Govt Needs Reforms 0


    TOKYO (MNI) - The International Monetary Fund said Friday that the Bank of Japan is unlikely to meet its target of anchoring inflation at 2% in the next year or so and again called on the Japanese government to work on fiscal consolidation and push for structural reforms to reduce overdependence on monetary policy.

    In its annual Article IV consultation statement on Japan, the IMF said, "Additional monetary easing while strengthening its effectiveness through more explicit guidance would enhance inflation dynamics.

  • Friday, May 22, 2015 - 13:38 BOE Haldane: When Rates Hikes Start, Will Be Slow And Gradual 0


    --Current Negative Inflation Rate Is "Good Deflation"

    LONDON (MNI) - Bank of England Chief Economist Andy Haldane said Friday that interest rates will start to rise at some point, but when they do, Bank Rate hikes will likely be slow and gradual.

    "When rates do start rising - and I've no idea when that will be - increases will likely be slow and gradual," Haldane told BBC Radio Scotland.

    The Bank of England's benchmark Bank Rate currently stands at a record low 0.5% - a level it has now sat at for over 6 years.

    However, Haldane underlined comments he has made in the past, stating that when rates did start to rise, they were unlikely to...

  • Friday, May 22, 2015 - 13:24 Yellen: Approp To Hike FFR This Year If Econ Does As Expect 0


    --Economy Well-Positioned For Growth of 2.5%; Infl Headed to 2%
    --Need To See Further Labor Market Improvement; Reasonable Confidence on Infl

    By Steven K.

  • Friday, May 22, 2015 - 09:35 EURO WEEK AHEAD: Germany's Lull Puts France Data In Focus 0


    By Martin Baccardax

    LONDON (MNI) - European investors will head into a holiday shortened session next week focused on developments in the ongoing negotiations between Greece and its international creditors and concerns over the strength of the single currency's economic recovery.

    With Germany signalling the increasing likelihood of a slow second quarter, there are concerns that growth outside of the region's largest economy may not be strong enough to maintain the 0.4% pace of expansion recorded in the first three months of the year.

    This week also saw a string of sobering sentiment indicator releases, with the readings from ZEW's investor confidence survey, Markit Economics' PMI all undershooting market expectations....