Breaking Economic News
Chinese credit growth to fall off, PBoC official says
Chinese lending data shows growth deceleration has been arrested, Barclays says
Total new loans extended in China rose to a pace of 857. 2bn yuan in August from 702. 5bn yuan in the month before, ahead of expectations from analysts at Barclays Research for an increase to 720bn yuan, led by increased short-term corporate financing.
Weale (BoE): UK spare capacity is small, shrinking rapidly
Greek bond yields surge on proposal for early exit from bail-out
Greek bond yields surged in afternoon trading on fears that Athen's bid for an early exit from its bail-out programme could leave the country exposed to financial turmoil.
US retail sales slipped 0.3% in September
US retail sales slipped 0. 3% month-on-month in September, instead of by the 0. 1% which analysts had penciled in, according to figures just out from the Department of Commerce.
A second healthcare worker has tested positive for Ebola in Texas
UK unemployment rate drops to 6%; Forecast: 6.1%
The UK’s unemployment rate dropped to 6% in the three months to August, the lowest since October 2008, according to the Office for National Statistics (ONS).
Front month Brent crude futures are down by another 1.38% to $83.88 per barrel
Chinese consumer prices slow down to 1.6% pace in September versus 1.7% expected
The rate of consumer price inflation slipped in China in September, led by lower food prices, according to the National Bureau of Statistics, although economists currently project a pick-up to materialize next year.
Front month Brent crude futures drop 3.95% to $85.51 per barrel
Front-month Brent crude futures dive again, fall 2.8% to $86.45 per barrel
RBS now expects first hike in Bank Rate in August 2015, instead of February
In the wake of Tuesday's much weaker than expected reading on consumer prices economists at RBS now see the Monetary Policy Committee's first increase in Bank Rate arriving in August 2015.
Eurozone industrial production contracts 1.9% year-on-year in August
The Eurozone’s industrial output contracted by 1. 8% over the month in August, according to the latest figures from Eurostat.
UK’s consumer price index rises 1.2% year-on-year in September, missing 1.4% forecast
The UK's CPI fell to a 1. 2% year-on-year rate of change in September (consensus: 1. 4%), after a reading of 1. 5% for August.
IEA cuts forecast for 2014 oil demand growth
The rich world's oil watchdog, the International Energy Agency (IEA), has cut its forecast for the increase in oil demand this year.
Kuwait follows Saudi Arabia's lead, signals no oil supply cuts ahead
Kuwait, one of the main oil producers in the Middle East, has apparently signaled that it will not go along with Venezuela's call for OPEC to cut its output to prop up falling prices when the cartel next meets in Vienna, on 27 November.
PBoC lowers 14-day repo rate to 3.4% from 3.5%
On Tuesday the People’s Bank of China, the country’s central bank, sold 20bn yuan in 14-day repurchase agreements at 3. 4%.
MAS keeps policy unchanged, slightly more cautious policy outlook - Barclays
Sveriges Riksbank awards 2014 prize for Economics to Jean Tirole
The Sveriges Riksbank awarded the 2014 prize for Economics to Jean Tirole, of Toulouse University, for his work on how to regulate large firms, the Royal Swedish Academy of Sciences announced.