Recent Updates
- ** Statistics New Zealand has reported corrections to their Q4 national accounts release from March 20th. Corrections have been updated in the ANZ database.**
- Tajikistan: Monetary Aggregates (Feb)
- Mongolia: Employment and Unemployment (Feb)
- Denmark: Consumer Confidence (Mar)
- Norway: International Reserves, Building Statistics (Feb)
- North Macedonia: Foreign Reserves (Feb-Prelim)
- Netherlands: Labor Force Survey (Feb), Household
- more updates...
Economy in Brief
U.S. Mortgage Loan Applications Strengthen As Financing Costs Ease
The MBA total Mortgage Applications Index rose 1.6% (1.8% y/y) during the week ending March 15...
German PPI Falls and the Trend Continues to Deteriorate
While conservative central bankers continue to worry about the prospect for inflation to surge, global inflation reports continue to undershoot these fears...
U.S. Factory Orders Inch Higher; Shipments Fall Again
Manufacturers' orders gained 0.1% (4.2% y/y) during January...
U.S. Gasoline & Crude Oil Prices Continue to Rise
Retail gasoline prices increased to $2.55 per gallon (-1.9% y/y)...
ZEW's Global Assessments Remain Weak
ZEW survey expectations curled higher this month but continued to stake out very weak readings...
by Tom Moeller November 1, 2005
The Federal Open Market Committee's unanimous decision to increase the target rate for federal funds 25 basis points to 4.00% was widely expected by analysts. The discount rate also was raised 25 basis points to 5.00%. This latest increase was the twelfth since June of 2004.
Today's press release from the Fed focused on the effects of higher energy prices. "Elevated energy prices and hurricane-related disruptions in economic activity have temporarily depressed output and employment."
The FOMC statement further indicated, as it did in September, that "The cumulative rise in energy and other costs have the potential to add to inflation pressures ..."
For the complete text of the Fed's latest press release please click here.
Implementing Monetary Policy, a March 2005 speech by then Fed Governor Ben S. Bernanke is available here.
