Bank of Japan Maintains Negative Interest Rates, Governor Discusses Future Policy
The Bank of Japan (BoJ) elected to maintain its negative interest rates on Wednesday as expected, although lowering its inflation expectations for 2019. The BoJ is holding short-term interest at -0.1% in a vote that was seven for, two against.
Soft Activity Reported by Richmond Fed Manufacturing Index, Price of Gold Ticks Upward
Fifth District manufacturing activity in January was reported to be soft according to the most recent survey from the Richmond Fed.
Existing Home Sales Hit Three-Year Low, Below Expectations
US existing home sales have fallen to their lowest rate in over three years, a sign that the housing market continued to dwindle at the close of 2018. Previously-owned homes have sold at the slowest pace since 2015.
German ZEW Economic Sentiment Increases Slightly Overall, but Current Conditions Hit Four-Year Low
The sentiment for current economic conditions in Germany fell to a four-year low, although January analysts have determined that the overall index reading is less negative than initially expected, actually marking a slight improvement over the previous month according to the results of the ZEW survey.
Consumer Sentiment Plunges, Gold Price Ticks Downward
Consumer sentiment has dipped to the lowest level since the election of President Trump according to today’s University of Michigan consumer sentiment Index. The index dropped from 98.3 down to 90.7, well below the forecast 95.7.
Housing Starts Data Delayed, Private Sector Steps In
While the ongoing partial government shutdown (now the longest in history) has delayed the release of the most current housing starts data, the private sector has stepped in with its own estimates.
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