05:22 |
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BoJ MPC Interest Rate Announcement
|
Apr |
0.10% |
0.10% |
0.10% |
Tinngi
|
The Bank of Japan Policy Board meets once a month for two days to discuss economic developments inside and outside of the country. The culmination of the meeting is the announcement of any adjustments to interest rates or other aspects of monetary policy.
Like any central bank, the BOJ is tasked with ensuring price stability while taking into account economic growth, employment, and recommendations from the elected government. With this goal in mind, a "Guideline for Money Market Operations" is established at each meeting. Changes in the rate have far-reaching consequences, affecting consumer loans, mortgages, bonds and the exchange rate of the Yen. The statement is the Bank of Japan's collective outlook on the economy as well as a source for clues on future monetary policy decisions. When it comes to interest rates, the future direction of rates is usually far more important than its current rate. |
05:22 |
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Monetary Policy Meeting Minutes
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Tinngi
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The Bank of Japan publishes the summary from its monthly monetary policy meetings some time after the actual meeting. These meetings are held to review economic developments inside and outside of Japan and decide the central bank’s monetary policy. The minutes usually come out late, at least a month after the meeting, but give detailed insight into the Bank of Japan’s monetary policy decision making process. |
05:22 |
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BOJ Outlook Report
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Sederhana
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It provides valuable insight into the bank's view of economic conditions and inflation - the key factors that will shape the future of monetary policy. |
08:30 |
|
Bank of Japan Press Conference
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Tinngi
|
Press conference of the BoJ. |
09:00 |
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KOF Economic Barometer
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Apr |
101.5 |
|
|
Sederhana
|
The Swiss KOF Economic Barometer is a leading indicator which measures overall economic activity and is an excellent indicator of the direction of the Swiss economy. The KOF Economic Barometer is one or two quarters ahead of the GDP growth rate of the previous year and thus enables an initial estimate to be made of how the Swiss economy will perform in the next or in the next two quarters.
The Barometer is ultimately adjusted to take account of seasonal fluctuations and random factors. The Barometer is published monthly. |
10:00 |
|
GDP
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1 quarter |
-0.3%; -0.4% |
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|
Sederhana
|
The Gross Domestic Product is a comprehensive measure of an overall production and consumption of goods and services. GDP serves as one of the primary measures of overall economic well-being. While GDP announcements generally conform to expectations, unanticipated changes in this metric can move markets.
Robust GDP growth signals a heightened level of economic activity and often a higher demand for the domestic currency. At the same time, economic expansion raises concerns about inflationary pressures which may lead monetary authorities to increase interest rates. Thus better than expected GDP figures are generally bullish for the Euro, while negative readings are generally bearish.
Technically, Gross Domestic Product is calculated in the following way:
GDP = C + I + G + (EX - IM)
where
C = private consumption, I = private investment, G = government expenditure, EX = exports of goods and services, IM = imports of goods and services.
French GDP figures, officially called Quarterly National Accounts, are released quarterly. The headline figures are annualized percentage changes in real and nominal GDP. |
12:30 |
|
Key bank rate
|
Apr |
16.00% |
16.00% |
16.00% |
Tinngi
|
The Bank Rossii decision on short term interest rate. The decision on where to set interest rates depends mostly on growth outlook and inflation. The primary objective of the central bank is to achieve price stability. High interest rates attract foreigners looking for the best "risk-free" return on their money, which can dramatically increases demand for the nation's currency.
A higher than expected rate is positive/bullish for the RUB, while a lower than expected rate is negative/bearish for the RUB. |
14:30 |
|
PCE Core
|
Mar |
0.3%; 2.8% |
0.3%; 2.6% |
0.3%; 2.8% |
Sederhana
|
Comprehensive measure of how much consumers spend each month, counting expenditures on durable goods, consumer products, and services. Personal Consumption is a comprehensive measure of GDP; consequently the figure is watched as an indicator for economic trends. Spending also has direct affect on inflationary pressures.
A healthy Personal Spending figure means that consumers are buying goods and services, fueling the economy and spurring output growth. The report is particularly valued for forecasting inflationary pressures. Taken in excess these high levels of consumption and production may lead to an overall increase in prices. Indeed, the Fed uses a measure of inflation derived from the PCE as their primary gauge of inflation.
On the other hand, persistently low Personal Spending may result in decreasing levels of output and an economic downturn.
Because income is either spent or saved, Personal Spending (when reported as a percent of income rather than the headline percent change) has an inverse relationship to personal saving. Economists watch the growth of Personal Spending in relation to income and saving to determine if consumers are living beyond their means, which would influence levels of borrowing and future consumption.
The PCE figure is released in headlines as a percent change from the previous month.
Core Personal Consumption Expenditure
Volatile items like food and energy can fluctuate widely due to seasonal and non-systemic factors. In order to provide a less erratic picture of Personal Consumption, food and energy items are excluded in the PCE core report.
The headline figure of PCE is expressed in percentage change in spending for the quarter.
Note: The Personal Consumption Expenditure figure is reported with the Personal Income and Outlays figure. |
14:30 |
|
Personal Spending
|
Mar |
0.8% |
0.6% |
0.8% |
Sederhana
|
Comprehensive measure of how much consumers spend each month, counting expenditures on durable goods, consumer products, and services. Personal Consumption is a comprehensive measure of GDP; consequently the figure is watched as an indicator for economic trends. Spending also has direct affect on inflationary pressures.
A healthy Personal Spending figure means that consumers are buying goods and services, fueling the economy and spurring output growth. The report is particularly valued for forecasting inflationary pressures. Taken in excess these high levels of consumption and production may lead to an overall increase in prices. Indeed, the Fed uses a measure of inflation derived from the PCE as their primary gauge of inflation.
On the other hand, persistently low Personal Spending may result in decreasing levels of output and an economic downturn.
Because income is either spent or saved, Personal Spending (when reported as a percent of income rather than the headline percent change) has an inverse relationship to personal saving. Economists watch the growth of Personal Spending in relation to income and saving to determine if consumers are living beyond their means, which would influence levels of borrowing and future consumption.
The PCE figure is released in headlines as a percent change from the previous month. |
14:30 |
|
PCE Core
|
|
1.8% q/q |
|
|
Sederhana
|
Comprehensive measure of how much consumers spend each month, counting expenditures on durable goods, consumer products, and services. Personal Consumption is a comprehensive measure of GDP; consequently the figure is watched as an indicator for economic trends. Spending also has direct affect on inflationary pressures.
A healthy Personal Spending figure means that consumers are buying goods and services, fueling the economy and spurring output growth. The report is particularly valued for forecasting inflationary pressures. Taken in excess these high levels of consumption and production may lead to an overall increase in prices. Indeed, the Fed uses a measure of inflation derived from the PCE as their primary gauge of inflation.
On the other hand, persistently low Personal Spending may result in decreasing levels of output and an economic downturn.
Because income is either spent or saved, Personal Spending (when reported as a percent of income rather than the headline percent change) has an inverse relationship to personal saving. Economists watch the growth of Personal Spending in relation to income and saving to determine if consumers are living beyond their means, which would influence levels of borrowing and future consumption.
The PCE figure is released in headlines as a percent change from the previous month.
Core Personal Consumption Expenditure
Volatile items like food and energy can fluctuate widely due to seasonal and non-systemic factors. In order to provide a less erratic picture of Personal Consumption, food and energy items are excluded in the PCE core report.
The headline figure of PCE is expressed in percentage change in spending for the quarter.
Note: The Personal Consumption Expenditure figure is reported with the Personal Income and Outlays figure. |