Norway's central bank left its key interest rate unchanged in June for the eight consecutive session, citing weaker-than-expected activity, higher-than-projected inflation and a weaker krone.
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Norway's central bank left its key interest rate unchanged in June for the eight consecutive session, citing weaker-than-expected activity, higher-than-projected inflation and a weaker krone.
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The Swiss National Bank on Thursday said it will retain the currency ceiling at CHF 1.2 per euro as risks to the economy from external developments remains high. The target range for the three-month Libor was also left unchanged at 0.0-0.25 percent. The decision was in line with economists' forecast. "Tensions can reappear at any moment on global financial markets," the central bank said.
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With positive contributions from financial indicators partly offset by negative contributions from other indicators, the Conference Board released a report on Thursday showing only a slight increase by its reading on leading U.S. economic indicators in the month of May. The Conference Board said its leading economic index edged up by 0.1 percent in May.
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Manufacturing activity in the Philadelphia area unexpectedly increased in the month of June, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday, with the index of activity in the sector climbing to a two-year high. The Philly Fed said its diffusion index of current activity jumped to a positive 12.5 in June from a negative 5.2 in May.
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The Philippines will on Friday announce Q1 numbers for current account, highlighting a light day for Asia-Pacific economic activity.
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Eurozone finance ministers agreed to give the permanent bailout fund the authority to "directly capitalize" banks, but national governments will have the responsibility to ensure the minimum capital buffer. Elsewhere, the Internal Monetary Fund settled concerns over Greece funding conditions with the assurance that the country will not face any financing problems.
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The U.K. budget deficit narrowed in May as new tax cooperation deal with Swiss authorities boosted government coffers with one-off payments. Public sector net borrowing excluding financial interventions fell to GBP 8.8 billion in May from GBP 15.6 billion in the previous year, data published by the Office for National Statistics showed Friday.
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New migration in New Zealand surged 12,200 in May, Statistics New Zealand said on Monday, surging a seasonally adjusted 9 percent on month to 153,000.
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New migration in New Zealand climbed 12,200 in May, Statistics New Zealand said on Monday, surging a seasonally adjusted 9 percent on month to 153,000.
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Singapore's annual inflation picked up in May, after hitting the lowest level in more than three years in April, as a fall in car prices was more than offset by price gains in the other major categories.
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The People's Bank of China on Sunday said it will fine-tune its policies as needed, suggesting slightly easier monetary conditions ahead as an acute cash crunch exacerbated challenges faced by an already slowing economy. The bank will continue to implement prudent monetary policy, the central bank said in a statement after a quarterly meeting of the Monetary Policy Committee.
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Mirroring a moderate recovery, German business morale strengthened for the second straight month on improving optimism about future activity, survey results from the Munich-based Ifo Institute showed Monday. The business sentiment index, based on response from 7,000 participants, improved slightly, as expected, to 105.9 in June from 105.7 in May.
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An index measuring corporate service prices was up 0.3 percent on year in May, the Bank of Japan said on Tuesday, standing at 96.3.
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Consumer confidence in the U.S. has unexpectedly seen a substantial improvement in the month of June, according to a report release by the Conference Board on Tuesday, with the group's consumer confidence index jumping to a five-year high. The Conference Board said its consumer confidence index surged up to 81.4 in June from a downwardly revised 74.3 in May.
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In another sign of the ongoing recovery by the U.S. housing market, the Commerce Department released a report on Tuesday showing that new home sales rose by more than expected in the month of May. The report said new home sales climbed 2.1 percent to a seasonally adjusted annual rate of 476,000 in May from the revised April rate of 466,000.
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Singapore will on Wednesday release May figures for industrial production, highlighting a light day for Asia-Pacific economic activity.
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Consumer confidence from Germany and financial stability report from the Bank of England are due on Wednesday. Elsewhere, U.K. Chancellor is set to outline the Spending Review.
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In a major shock to economists, the Commerce Department released a report on Wednesday showing a substantial downward revision to the pace of U.S. economic growth in the first quarter of 2013.
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The European Central Bank Chief Mario Draghi said that it has done as much as it can to support the euro area economy, and now governments should do their part to strengthen the region. "The ECB has done as much as it can to stabilize markets and support the economy," President Draghi told the French parliament on Wednesday.
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In a major shock to economists, the Commerce Department released a report on Wednesday showing a substantial downward revision to the pace of U.S. economic growth in the first quarter of 2013. The Commerce Department said its final reading on first quarter gross domestic product showed 1.8 percent growth, well below the previous estimate of a 2.4 percent increase.
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Bank of England warned lenders about an abrupt increase in long-term interest rates and asked banks to raise their capital levels. In its half-yearly Financial Stability Report published on Wednesday, the U.K. central bank recommended financial sector supervisors to provide an assessment about the vulnerability of borrowers to sharp upward movements in interest rates.
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New Zealand posted a merchandise trade surplus of NZ$71 million in May, Statistics New Zealand said on Thursday, worth 1.7 percent of exports.
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South Korea saw a current account surplus of $8.64 billion in May, the Bank of Korea said on Thursday - remaining in the black for the 16th straight month and marking the highest monthly surplus ever.
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The U.K. economy escaped recession in the first quarter as previously estimated, final data from the Office for National Statistics showed Thursday. Disposable income of households declined at the sharpest pace since 1987.
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Turkey's consumer confidence weakened in June after an improvement in the previous month, data released by the Turkish Statistical Institute showed Thursday.
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Suggesting a possible spark from rising mortgage rates, the National Association of Realtors released a report on Thursday showing that pending home sales surged up to their highest level in over six years in the month of May. NAR said its pending home sales index jumped 6.7 percent to 112.3 in May after dipping 0.5 percent to a downwardly revised 105.2 in April.
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Suggesting a possible spark from rising mortgage rates, the National Association of Realtors released a report on Thursday showing that pending home sales surged up to their highest level in over six years in the month of May.
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Japan is scheduled to release a raft of data on Friday, highlighting a busy day for Asia-Pacific economic activity.
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Confidence among British consumers rose to its highest level in just over two years in June with the households' perceptions of the general economic situations improving, a survey by GfK NOP revealed Friday. The consumer confidence index rose to -21 in June, the highest reading since May 2011, from -22 in the previous month.
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Industrial production in Japan climbed a seasonally adjusted 2.0 percent in May compared to the previous month, the Ministry of Economy, Trade and Industry said on Friday - expanding for the fourth straight month.
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U.K. House prices increased at the fastest pace in nearly three years in June, as measures initiated by the central bank provided easy access to low cost credit, a monthly report released by the Nationwide Building Society showed Friday. House prices were 1.9 percent higher than in the same period of last year, the biggest growth since September 2010.
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Retail sales in Germany recorded a surprise improvement in May, cementing expectations that private consumption will continue to remain one of the largest contributors to economic growth backed by solid labor market conditions and income expectations. On a seasonally and calendar adjusted basis, retail sales grew 0.8 percent month-over-month, faster than the 0.4 percent growth expected.
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Consumer sentiment in the U.S. deteriorated by much less than previously estimated in the month of June, according to a report released by Thomson Reuters and the University of Michigan on Friday. The report showed that the consumer index for June was upwardly revised to 84.1 from the preliminary reading of 82.7. Economists had been expecting the index to be upwardly revised to 83.0.
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Chicago-area business activity saw continued growth in the month of June, according to a report released by the Institute for Supply Management - Chicago on Friday, although the pace of growth slowed by much more than economists had anticipated. The ISM Chicago said its Chicago business barometer tumbled to 51.6 in June from 58.7 in May.
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An index measuring business sentiment in Japan surged in the second quarter of 2012, the Bank of Japan revealed on Monday in its quarterly Tankan business survey.
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Consumer prices in South Korea were up 1.0 percent on year in June, Statistics Korea said on Monday - slightly below forecasts for 1.1 percent but unchanged from the May reading.
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Chinese manufacturing activity slowed in June, a survey by the China Federation of Logistics and Purchasing, or CFLP, and the National Bureau of Statistics revealed Monday, adding to concerns that the economy may continue to lose momentum in the second quarter. The headline purchasing managers' index fell to 50.1 in June from 50.8 in May. Readings above 50 indicate expansion of the sector.
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An index measuring business sentiment in Japan surged in the second quarter of 2012, the Bank of Japan revealed on Monday in its quarterly Tankan business survey - as a weaker yen boosted expectations of an economic recovery.
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Unemployment in the euro area increased further in May and reached a new record high, signaling that the ongoing downturn in business activity continues to weigh on the labor market despite signs of improvement in the general economy.
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U.K. witnessed a bigger-than-expected increase in home loans during May, data released by the Bank of England revealed on Monday.
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