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  • 2019-04-02 19:01

    By Shaily Mittal

    LONDON (MNI) - - UK Shop Price inflation accelerated to a six-year high of 0.9% in March on the year compared with 0.7% in February.

    - Food price spikes contributed the most to overall inflation, led by bad weather and global commodity price increases.

    - Food inflation was up 2.5% in March from 1.6% in February, the highest since November 2013.

    - Ambient Food inflation rose significantly to 3.4% in March from 1.5% in February, the highest since February 2013.

    - Non-food inflation remained stable compared with last year and was unchanged from last month as well.

    - On a monthly basis, shop price inflation eased to 0.2% from 0.7% in February.

    --MNI London Bureau; tel: +44 203-586-2225; email:


  • 2019-04-01 20:26

    --BOJ Tankan: Biz Long-Term CPI Outlook Dips
    --BOJ Tankan: Biz 1-Yr ahead CPI Outlook at 0.9%, Dec 0.9%
    --BOJ Tankan: Firms' 3-Yr ahead CPI Outlook at 1.1% vs. Dec 1.1%
    --BOJ Tankan: Firms' 5-yr ahead CPI Outlook at 1.1% vs.

  • 2019-04-01 19:16

    By Yali N'Diaye

    OTTAWA (MNI) - The following are the key points from a press conference by Bank of Canada Governor Stephen Poloz on Monday, following a speech to the Baffin Regional Chamber of Commerce and the Nunavut Mining Symposium in Iqaluit, Nunavut:

    - As far as the BOC is concerned, "We're not forecasting a recession," Poloz said. The decline in long-term yields is reflecting the expectation that the risk of future inflation is declining and that economic growth is slowing, which is already factored into forecasts. He said both the BOC and markets are data dependent. Poloz also said it is more the case that a yield curve inversion tends to be closely related to times preceding recessions in the U.S. than it is the case for Canada.

  • 2019-04-01 14:57

    By Courtney Tower

    OTTAWA (MNI) - Following are the key points from a speech by Bank of Canada Governor Stephen Poloz on Monday, reaffirming the BOC's position that the present low-growth period will prove to be temporary.

  • 2019-03-31 23:06

    TOKYO (Kyodo) - The name of Japan's new era, set to start on May 1, is "Reiwa," Chief Cabinet Secretary Yoshihide Suga said on Monday.

    The change will come into force as Crown Prince Naruhito succeeds his father Emperor Akihito to the throne as head of state, after the latter's expected abdication on April 30.

    A gengo -- a named era -- is used for the length of an emperor's reign and a change of era is an important event as it is used in minting coins and producing calendars and official documents among other purposes, although the Gregorian calendar is also widely used in Japan.

    Foreign Minister Taro Kono has said the government will notify 195 countries as well as international organizations of the decision through diplomatic missions at home and abroad and other

  • 2019-03-29 15:01

    --Repeating Story Initially Sent at 12:24 ET/16:24 GMT Friday

    WASHINGTON (MNI) - A higher-than-expected U.S. labor force participation rate, which Fed policymakers have viewed as a sign the economy can support faster growth without needing higher interest rates to tame inflation, is only a small deviation from demographic trends, Federal Reserve Bank of San Francisco economist Marianna Kudlyak said in an interview Wednesday.

    The percentage of the U.S.

  • 2019-03-29 12:05

    By Jean Yung

    WASHINGTON (MNI) - Federal Reserve Governor Randy Quarles said Friday that higher interest rates may be appropriate at some point even though he is content to patiently watch how data evolves for now.

    "I am very comfortable remaining patient at this point and monitoring the incoming data. That said, my sense is that further increases in the policy rate may be necessary at some point, a stance I believe is consistent with my optimistic view of the economy's growth potential and momentum," he said in a speech prepared for a financial markets conference in New York.

    His estimate of the neutral policy rate remains "somewhat north of where we are now," he added, citing gains in investment, productivity and labor force participation over the past year.

  • 2019-03-29 08:30

    - GDP Excluding Energy +0.4%, Largest Gain Since November 2017

    OTTAWA (MNI) - The following are the key points from the January data on the Canadian GDP by industry released Friday by Statistics Canada:

    - January GDP rebounded 0.3%, the largest gain since May 2018, fully offsetting declines of 0.1% in both December and November.

    - The rebound topped market expectations of a 0.1% increase despite the expected contraction in oil production due to mandatory cuts in Alberta that were implemented to counter lower oil prices. In fact, if not for a 0.6% drop in energy, GDP would have increased 0.4%, the largest expansion since November 2017.

    - Details of the report were strong, as gains were widespread across 18 of 20 industrial sectors.

  • 2019-03-29 06:40

    HAINAN(MNI) - China and the U.S. could reach a final agreement on settling their trade dispute by the end of June, Hu Xiaolian, a former deputy governor of the PBOC and now chairwoman of the Export-Import Bank of China, said at the Boao Forum in southern Hainan province. Here are major points made by Chinese delegates at the forum on Friday:

    --Any U.S.-China trade deal will only be a starting point to work on deeper dividing issues, Hu said.

  • 2019-03-29 05:40

    By David Robinson and Irene Prihoda

    LONDON (MNI) - Bank of England money and credit data showed that the average interest rates being paid by borrowers on a range of mortgages were at record lows in February, but housing market activity looks set to soften.

    The following are key points from the BOE data sets:

    -The number of mortgage approvals, a reliable indicator of future house purchases, fell to 64,337 in February from 66,696 in January, just above the 64,112 recorded in December.

    The approvals figure was a shade below the previous six month average of 65,50. Other housing market surveys have also painted a picture of subdued demand.

    -The average interest rate on the stock fixed 3,4 and 5 year mortgages hit their series lows in February.