The People’s Bank of China (PBOC) keeps one-year Loan Prime Rate (LPR) unchanged at 3.85% in June and maintains the five-year LPR at 4.65%. During the last week, the PBOC cut its 14-day reverse repo rate in a surprise move. Credit card spending of New Zealand is -21.1% in June which is less than -49.4% [...]
The recent US unemployment report was not as expected. Jobless claims numbers suggest the reopening story isn't having as much of a positive impact on the labor market as hoped. It reinforces the case for more fiscal support to keep the economy on the recovery path. The unemployment claims was more than the forecast which [...]
Australian unemployment surged in May and a huge chunk of jobs were lost as ongoing restrictions to prevent the spread of the corona virus kept large parts of the economy shuttered. The seasonally adjustments estimates are "Employment decreased 227,700 to 12,154,100 people, Full-time employment decreased 89,100 to 8,540,000 people and part-time employment decreased 138,600 to [...]
As per the Retail sales report, American shoppers in May showed a record 17.7% monthly gain in retail spending after devastating declines in the previous months due to the corona virus lockdowns. The recovery was only partially made up for the losses till now as spending were down about 6% year-on-year. And some sectors, such [...]
