Westpac-Melbourne Institute Leading Index growth rate slows

Dec 16, 2015 00:54 am UTC| Commentary Central Banks

The six month annualised deviation from trend growth rate in the Westpac-Melbourne Institute Leading Index, which indicates the likely pace of economic activity three to nine months into the future, decreased from -0.13%...

New Zealand Q3 current account deficit narrows to 3.3% of GDP

Dec 15, 2015 23:38 pm UTC| Commentary

The current account deficit narrowed to 3.3% of GDP in the year to September, from a revised 3.4% in June. The revision was due to a range of small positive revisions in the June quarter. The deficit was only slightly...

How will money markets respond to the Fed liftoff ?

Dec 15, 2015 23:27 pm UTC| Commentary Central Banks

Many short-term interest rates have already shifted higher due to expectations for a Fed hike. Indeed, 1- and 3-month bill, discount note, LIBOR, and commercial paper rates have recently moved higher and now trade near...

Nuts and bolts of Fed liftoff

Dec 15, 2015 23:03 pm UTC| Commentary Central Banks

On Wednesday the Federal Reserve is likely to raise interest rates for the first time in nearly a decade. The Fed faces a unique challenge in tightening monetary policy with a $4.5tn balance sheet and nearly $2.5tn in...

Spain’s labour market improving but a long way to go

Dec 15, 2015 22:45 pm UTC| Commentary Economy

A highly inefficient labour market has been a major weakness for the Spanish economy. Poor labour market regulation has resulted in the abuse of temporary contracts by firms, excessive protection of workers on permanent...

Canadian home sales strengthen again in November

Dec 15, 2015 21:42 pm UTC| Commentary Economy

Following some cooling over the summer, housing demand has reaccelerated through the fall. The volume of home sales transactions through November is up 5% from a year earlier, and trending only 3% below the 2007 record...

Bank of Canada sees the risks to the financial system as elevated, but stable

Dec 15, 2015 21:28 pm UTC| Commentary Central Banks

The Bank of Canada released its Financial Systems Review (FSR) this morning, in which it highlights risks tied to the Canadian economy and financial system. The Bank judges that Canadian economic conditions have firmed in...