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China’s official PMI data for September signaled tentative improvement in industry but lingering softness in services.The NBS Manufacturing PMI rose to 49.8 from 49.4, its highest since March, though it still pointed to contraction. The gauge has been under 50 since April, reflecting headwinds for large and state-linked producers. The NBS Non-Manufacturing PMI slipped from […]

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New Zealand’s ANZ Business Confidence edged slightly lower in September, slipping from 49.7 to 49.6. Though, Own Activity Outlook improved to 43.4 from 38.7. Inflation pressures ticked mildly higher. One-year-ahead inflation expectations rose to 2.71% from 2.63%,. The share of firms expecting to raise prices in the next three months climbed to 46%. Cost expectations […]

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Japan’s latest data painted a downbeat picture of economic momentum in August. Industrial production slipped -1.2% mom, falling short of the expected -0.8%. Of the 15 industrial sectors, 12 including metal products, and inorganic and organic chemicals, saw output decreases. METI maintained its description of output as “fluctuates indecisively”. Officials stressed that firms remain highly […]

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The BoJ’s September Summary of Opinions revealed that members debated the feasibility of raising interest rates in the near term, with some arguing that conditions were aligning for another move. The release underscores a growing hawkish tilt inside the Board, even as the majority voted to hold steady at 0.50%. One member argued that “judging […]

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St. Louis Fed President Alberto Musalem said monetary policy is now “somewhere between modestly restrictive and neutral.” Musalem, who votes on policy this year, said he is “open minded” to further rate cuts but stressed that caution is needed. With limited room before policy turns “overly accommodative”, he signaled the Fed should proceed carefully.

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New York Fed President John Williams said overnight that it made sense for the central bank to ease policy “a little bit” to reduce restrictiveness to support the labor market while maintaining downward pressure on inflation. Williams acknowledged progress toward the 2% inflation target but cautioned that more work remains. He underscored the Fed’s dual […]

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