ECB Cipollone Speech

In the Euro Area, benchmark interest rate is set by the Governing Council of the European Central Bank. The primary objective of the ECB’s monetary policy is to maintain price stability which is to keep inflation below, but close to 2 percent over the medium term. In times of prolonged low inflation and low interest rates, ECB may also adopt non-standard monetary policy measures, such as asset purchase programmes. The official interest rate is the Main refinancing operations rate.

New Car Registrations MoM

7.2%

In Brazil, New Vehicle Registrations refers to total registration of new vehicles, including passenger cars, trucks and buses.

Car Production MoM

1.8%

In Brazil, car production measures the total number of manufactured cars including passenger cars, trucks and buses in the reference month.

3-Month BTF Auction

2.069%

12-Month BTF Auction

2.101%

6-Month BTF Auction

2.091%

Auto Production YoY

-3.7%

In Mexico, Car Production refers to total production of vehicles.

Auto Exports YoY

-5.5%

In Mexico, auto exports refers to total exports of vehicles. The Mexican automotive sector exports 70% of its production to the US.

BCB Focus Market Readout

In Brazil, interest rate decisions are taken by The Central Bank of Brazil's Monetary Policy Committee (COPOM). The official interest rate is the Special System of Clearance and Custody rate (SELIC) which is the overnight lending rate.

Inflation Rate YoY

2.7%

In Luxembourg, the most important categories in the consumer price index is Housing, Water, Electricity, Gas and Other Fuels (13 percent of total weight); Miscellaneous Goods and Services (12 percent); and Transport (10 percent). Food and Non-Alcoholic Beverages account for 9 percent; Furniture, Household Goods and Maintenance for 6 percent; Clothing and Footwear for 5 percent; and Recreation and Culture for 4 percent. Restaurants and Hotels; Alcohol Beverages and Tobacco; Health; Communication; and Education account for the remaining 12 percent of total weight.

Inflation Rate MoM

-0.2%

Inflation Rate MoM measures month over month change in the price of goods and services.

12-Month Bubill Auction

1.937%

Balance of Trade

-2700000000

Greece reports regular trade deficits due to high volume of imports. Main imports are mineral fuels, machinery and transport equipment and chemicals. In recent years, the biggest trade deficits were recorded with Russia, Germany, China, Italy and France. Greece records trade surpluses with Turkey, Cyprus, United States, Algeria and United Arab Emirates.

Budget Balance

-339000000000

The government budget balance is the difference between government revenues and expenses. The budget is balanced when outlays equal to receipts, the country reports budget surplus when revenues are higher than expenses and deficit when expenses exceed the revenues.

3-Month Bill Auction

1.958%

6-Month Bill Auction

1.99%

91-Day T-Bill Auction

6.81%

182-Day T-Bill Auction

7.14%

273-Day T-Bill Auction

7.22%

364-Day T-Bill Auction

7.21%

Unemployment Rate

4.6%

In Czech Republic, the unemployment rate shows the share of unemployed people between the ages of 15 and 64 immediately able to start work versus all working people in the same demographic group.

Foreign Exchange Reserves

510400000000

In Singapore, Foreign Exchange Reserves are the foreign assets held or controlled by the country central bank. The reserves are made of gold or a specific currency. They can also be special drawing rights and marketable securities denominated in foreign currencies like treasury bills, government bonds, corporate bonds and equities and foreign currency loans.

Consumer Confidence

-37

In Switzerland, the consumer confidence survey is conducted every year, in the months of January, April, July and October. Around 1000 households are questioned for State Secretariat for Economic Affairs regarding their subjective evaluation of the economic situation, financial situation of the household in question, inflation, job security etc. Generally consumer confidence is high when the unemployment rate is low and GDP growth is high. Measures of average consumer confidence can be useful indicators of how much consumers are likely to spend.

Industrial Production MoM

1.1%

In Czech Republic, industrial production measures the output of businesses integrated in industrial sector of the economy such as manufacturing, mining, and utilities.

Industrial Production YoY

0.4%

In Czech Republic, industrial production measures the output of businesses integrated in industrial sector of the economy such as manufacturing, mining, and utilities.

Balance of Trade

29700000000

Czech Republic is intensively involved in international trade. It engages in the export of numerous manufactured goods that are used in the production of automobiles, furniture, and electrical appliances. Czech Republic imports mainly machinery and transportation equipment, raw materials, fuels and chemicals. European Union is by far its largest trading partner, accounting for about 83% of exports and 65% of imports.

Construction Output YoY

12.8%

In Czech Republic, construction output refers to year over year change in construction work performed by enterprises whose principal activity is classified as construction.

Industrial Production MoM

1.3%

In Germany, industrial production measures the output of businesses integrated in industrial sector of the economy. Manufacturing is the most important sector and accounts for 79 percent of total production. The biggest segments within Manufacturing are: machinery and equipment (12 percent of total production); motor vehicles, trailers and semi-trailers (12 percent); basic metals and fabricated metal products (10 percent); and computers, electronic and optical products and electrical equipment (10 percent). Construction accounts for 11 percent of total output; and energy production accounts for 10 percent.

Manufacturing Production MoM

8%

In Denmark, manufacturing accounts for 96 percent of total production. The biggest segments within Manufacturing are: pharmaceuticals (20 percent of total manufacturing); food products, beverages and tobacco (14 percent); machinery (14 percent); furniture and other manufacturing (13 percent); metals (9 percent); chemicals and oil refineries (7 percent); and plastic, glass and concrete (7 percent).

Balance of Trade

-430000000

International trade makes a third of Finland’s GDP. Finnish principal exports are: telecommunications equipment, passenger cars and forestry products and paper and paperboard. Finnish principal imports are food stuffs, petroleum and petroleum products, chemicals, transport equipment, iron and steel, machinery, textile yarn and fabrics and grains. European Union makes 55 percent of the total trade. The largest trade flows are with Germany, Russia, Sweden, China and U.S.

Eco Watchers Survey Current

49.1

The Economy Watchers Current Index measures the current mood of businesses that directly service consumers, such as barbers, taxi drivers, and waiters. The survey covers eleven regions across the country including Hokkaido, Tohoku, Northern Kanto, Southern Kanto, Tokai, Hokuriku, Kinki, Chugoku, Shikoku, Kyushu, and Okinawa. There were 2,050 people selected among those engaged in jobs in industries. This enabled them to observe any developments that accurately reflect economic activities such as household activity, corporate activity, and employment. A reading above 50.0 indicates optimism; below indicates pessimism.

Eco Watchers Survey Outlook

53.1

The Economy Watchers Survey Outlook measures the expected mood of businesses that directly service consumers, such as barbers, taxi drivers, and waiters. The survey covers eleven regions across the country including Hokkaido, Tohoku, Northern Kanto, Southern Kanto, Tokai, Hokuriku, Kinki, Chugoku, Shikoku, Kyushu, and Okinawa. There were 2,050 people selected among those engaged in jobs in industries. This enabled them to observe any developments that accurately reflect economic activities such as household activity, corporate activity, and employment. A reading above 50.0 indicates optimism; below indicates pessimism.

Balance of Trade

90070000000

Since 1995, China has been recording consistent trade surpluses. In 2022, the trade surplus surged 31% to USD 876.91 billion, the highest since records started in 1950, with exports rising 7% and imports up 1%.

Exports YoY

-1.1%

Imports YoY

1%

3-Year KTB Auction

2.865%

Motorbike Sales YoY

8.4%

Feast of the Immaculate Conception

Feast of the Immaculate Conception

Feast of the Immaculate Conception

GDP Growth Rate QoQ Final

0.6%

Japan's industrialized, free market economy is the fourth biggest in the world. Japan has the largest electronics industry and the third largest automobile industry in the world. Japan’s economy is well-known by its efficiency and competitiveness in exports oriented sectors, but productivity is lower in areas such as agriculture, distribution, and services.

Current Account

4483000000000

Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).

GDP Growth Annualized Final

2.3%

GDP Annualized Growth Rate shows the gdp growth that would be registered if the quarter-on-quarter rate of change were maintained for a full year.

Bank Lending YoY

4.1%

In Japan, bank lending refers to the year-on-year change of all outstanding loans and discounts with banks and shinkin banks. Lending increases with increased business confidence and investment and it is an important indicator for the Japanese economy because of the weakness that has plagued the Japanese banking sector.

GDP Private Consumption QoQ Final

0.4%

In Japan, final consumption expenditure of households takes into consideration the supply-side estimates as well as the demand-side estimates derived from "Family Income and Expenditure Survey" etc. The final consumption expenditure of households represents the weighed average of demand-side and supply-side estimates.

GDP Price Index YoY Final

3%

The GDP Deflator measures the change in prices of final goods and services and it is considered as a key indicator for inflationary pressures, that provides insight into the future direction of monetary policy.

GDP Capital Expenditure QoQ Final

0.8%

Gross fixed capital formation measures the value of acquisitions of new or existing fixed assets by the business sector, governments and households (excluding their unincorporated enterprises) less disposals of fixed assets.

GDP External Demand QoQ Final

0.2%

In Japan, GDP External Demand Contribution measures the overall contribution of net exports of goods and services to the GDP. The contribution is calculated as the contribution of exports less that of imports.

Average Cash Earnings YoY

1.9%

In Japan, wage growth refers to changes in average cash earnings, including contractual and special cash earnings, in companies with five or more employees.

Overtime Pay YoY

0.6%

In Japan, non-scheduled cash earnings are the wages paid for work performed outside scheduled working hours, and on days off or night work, that is allowances for working outside work hours, night work, early morning work, and overnight duty.

Reuters Tankan Index

17

The Reuters Tankan is a monthly survey of leading Japanese companies, and it was formally known as Telerate Tankan until it was renamed after the acquisition of Quick Money line Telerate Corp. by Thomson Reuters Group. It covers a panel of 200 manufacturers and 200 non-manufacturers. The monthly figures are designed to provide early indications of the BOJs quarterly tankan. The indexes are derived by subtracting the percentage of respondents who say business conditions are poor from the percentage of those who say they are good.