| Today's Economy
Europe Daily Briefing: Some Good News From the U.K. Labour Market The BoE still has enough reasons to stand pat in May. Policy Inertia Undermines Russian Potential The weak economy should shape budget discussions, but deep reforms are unlikely. Asia-Pacific Daily Briefing: China Tightens Its Ship The U.S. is vulnerable to Chinese trade retaliation. Wide Libor Spread Limits Upside for Fed Funds A jump by the three-month Libor may cool business activity and effectively substitute for Fed rate hikes. » VIEW MORE TODAY'S ECONOMY
Commentary
BoE Preview: The Central Bank Has Excuses to Stand Pat Despite January's strong U.K. labour market report, all other economic indicators have been weak lately. Down the Rabbit Hole An all-out trade war could cost millions of jobs. U.S. Regional Outlook: Constraints Emerging The benefits of growth in this late stage of the business cycle are accruing to most areas. U.S. Macro Outlook: Supply-Side Washout Higher tariffs and less trade will result in less growth and higher inflation, raising the risk of an overheating economy. » VIEW MORE COMMENTARY
Today's Economic Indicators
United Kingdom
Unemployment
Feb. 2018: 4.3%
In line with our expectations, the U.K.'s jobless rate declined to 4.3% in the January quarter, after having edged up to 4.4% in the December one. United States
MBA Mortgage Applications Survey
March 16: -1.1%
Mortgage applications declined last week, behind mixed movements in mortgage interest rates. United States
Current Account
2017Q4: -$128.2 bil
The U.S. current account deficit rebounded in the fourth quarter, widening $26.7 billion to $128.2 billion. Colombia
Monetary Policy
Mar. 2018: 4.50%
Colombia’s central bank board left the reference interest rate unchanged at March’s meeting. Russian Federation
Retail Sales
Feb. 2018: 1.8%
Retail extended its slump in February, dipping 2.6%, after cratering in January. Russian Federation
Unemployment
Feb. 2018: 5.0%
The not seasonally adjusted unemployment rate in Russia dropped 0.2 percentage point in February, falling to 5%, the lowest since September and down 0.6 percentage point from a year earlier. United States
Existing-Home Sales
Feb. 2018: 5.54 mil
Existing-home sales for February regained some of the ground lost in December and January. Total sales increased 3% for the month and are up by 1.1% from February 2017. United States
Oil Inventories
March 16: 428.3 mil barrels
An unexpected decline in crude oil inventories will put upward pressure on oil prices. United States
FOMC Monetary Policy
Mar. 2018: 1.50 - 1.75%
The Federal Open Market Committee is turning more hawkish, unsurprising considering the strength of the economy and the fiscal stimulus that is in the pipeline. Argentina
GDP
2017Q4: 3.9%
Argentina's economy expanded 3.9% y/y in the fourth quarter, after 3.8% in the previous quarter (revised figure). New Zealand
Monetary Policy
Mar. 2018: 1.75%
The Reserve Bank of New Zealand is standing its ground on the sidelines. Brazil
Monetary Policy
Mar. 2018:
Australia
Employment Situation
Feb. 2018:
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