Monetary Policy Meeting Minutes

In Poland interest rates decisions are taken by the National Bank of Poland (Narodowy Bank Polski, NBP). The official interest rate is the Reference Rate.

BoE Tenreyro Speech

In the United Kingdom, benchmark interest rate is set by the Monetary Policy Committee (MPC). The Bank of England official interest rate is the repo rate. This repo rate applies to open market operations of the Bank of England with a group of counterparties (banks, building societies, securities firms).

Ivey PMI s.a

74.2

The Ivey Purchasing Managers Index (PMI) is an economic index which measures the month to month variation in economic activity as indicated by a panel of purchasing managers from across Canada, and is prepared by the Ivey Business School at Western University. The PMI includes both the public and private sectors and is based on month end data Ivey PMI panel members indicate whether their organizations activity is higher than, the same as, or lower than the previous month across the following five categories: purchases, employment, inventories, supplier deliveries and prices.A headline value above 50 indicates an increase in purchases from the previous month and a value below 50 indicates a decrease.

Fed Williams Speech

In the United States, the authority to set interest rates is divided between the Board of Governors of the Federal Reserve (Board) and the Federal Open Market Committee (FOMC). The Board decides on changes in discount rates after recommendations submitted by one or more of the regional Federal Reserve Banks. The FOMC decides on open market operations, including the desired levels of central bank money or the desired federal funds market rate.

Unemployment Rate

5.3%

In Canada, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.

Full Time Employment Chg

92700

In Canada, full-time employment consists of persons who usually work 30 hours or more per week at their main or only job.

Part Time Employment Chg

-20300

In Canada, part-time employment consists of persons who usually work less than 30 hours per week at their main or only job.

Participation Rate

65.4%

The labour force participation rates is the number of persons who are employed and unemployed but looking for a job divided by the total working-age population.

Employment Change

72500

In Canada, employment change refers to the change in the number of persons who work for pay or profit, or perform unpaid family work. Estimates include both full-time and part-time employment.

Average Hourly Wages YoY

3.4%

Average Hourly Wages of Permanent Employees in Canada refers to the usual wages or salary of permanent employees at their main job. Respondents are asked to report their wage/salary before taxes and other deductions, and include tips and commissions. Weekly and hourly wages/salary are calculated in conjunction with usual paid work hours per week.

Non Farm Payrolls

431000

Nonfarm payrolls is an employment report released monthly, usually on the first Friday of every month, and heavily affects the US dollar, the bond market and the stock market. Current Employment Statistics (CES) program from the U.S. Department of Labor Bureau of Labor Statistics, surveys about 141,000 businesses and government agencies, representing approximately 486,000 individual work sites, in order to provide detailed industry data on employment, hours, and earnings of workers on nonfarm payrolls.

Unemployment Rate

3.6%

In the United States, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.

Average Hourly Earnings MoM

0.4%

In the United States, Average Hourly Earnings is the average amount employees make per hour in a given month. The Federal Reserve uses average hourly earnings in deciding whether to raise or lower interest rates.

Participation Rate

62.4%

The civilian labor force participation rate is the number of employed and unemployed but looking for a job as a percentage of the population aged 16 years and over.

Average Hourly Earnings YoY

5.6%

In the United States, Average Hourly Earnings is the average amount employees make per hour in a given month. The Federal Reserve uses average hourly earnings in deciding whether to raise or lower interest rates.

Nonfarm Payrolls Private

426000

Private Nonfarm Payrolls measures the change in the number of total payrolls in any business, excluding general government employees, private household employees, employees of nonprofit organizations that provide assistance to individuals and farm employees.

Average Weekly Hours

34.6

Average weekly hours are the total weekly hours divided by the employees paid for those hours. Unpaid absenteeism, labor turnover, part-time work, and stoppages cause average weekly hours to be lower than scheduled hours of work for an establishment.

Manufacturing Payrolls

38000

Manufacturing Payrolls reports the absolute change in the number of employees working in the Manufacturing sector in the United States.

Government Payrolls

5000

Government Payrolls reports the absolute change in the number of employees working in the Government sector in the United States. It includes Federal, State and Local governments.

Retail Sales MoM

1.1%

In Brazil, the Retail sales report provides an aggregated measure of sales of retail goods and services over a specific time period. In Brazil, Retail sales are seasonal, volatile and relatively important to the overall economy.

Retail Sales YoY

1.3%

In Brazil, the year-over-year change in Retail sales compares the aggregated sales of retail goods and services during a certain month to the same month a year ago.

Car Production MoM

11.4%

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

New Car Registrations MoM

10.9%

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

Foreign Exchange Reserves

158100000000

In Poland, 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.

Foreign Exchange Reserves

In India, 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.

Bank Loan Growth YoY

In India, bank loan growth refers to the year-over-year change of the overall commercial banks credit to the economy, including food credit, non-food credit and loans, cash credit and overdrafts.

Deposit Growth YoY

In India, deposit growth refers to the year-over-year change of the commercial banks deposits.

BoE Pill Speech

In the United Kingdom, benchmark interest rate is set by the Monetary Policy Committee (MPC). The Bank of England official interest rate is the repo rate. This repo rate applies to open market operations of the Bank of England with a group of counterparties (banks, building societies, securities firms).

Auto Production YoY

0.8%

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

Auto Exports YoY

2.5%

In Mexico, auto exports refers to total exports of vehicles.

Gross Fixed Investment YoY

8.6%

The Gross Fixed Investment in Mexico measures the total value of all acquisitions of fixed assets, both tangible and intangible, obtained as a result of a production process. Those are only ones which can be repeatedly used in other production processes in a period longer than one year. The value represents a year over year change of the gross fixed investment, obtained by aggregating the constant values of machinery and equipment of both national and foreign origin and of construction. They are: buildings, machinery, equipment, transport equipment, software, literary originals and other tangible and intangible fixed assets and additions and upgrades meant to prolong the usage or increase capacity. Considering the machinery and equipment of national origin, only new products are counted. Both new and used imported machinery and equipment increase the value of assets available in the country. The construction gross fixed investment index refers to the investment cost valued at the buyers cost.

Gross Fixed Investment MoM

2.2%

The Gross Fixed Investment in Mexico measures the total value of all acquisitions of fixed assets, both tangible and intangible, obtained as a result of a production process. Those are only ones which can be repeatedly used in other production processes in a period longer than one year. The value represents a year over year change of the gross fixed investment, obtained by aggregating the constant values of machinery and equipment of both national and foreign origin and of construction. They are: buildings, machinery, equipment, transport equipment, software, literary originals and other tangible and intangible fixed assets and additions and upgrades meant to prolong the usage or increase capacity. Considering the machinery and equipment of national origin, only new products are counted. Both new and used imported machinery and equipment increase the value of assets available in the country. The construction gross fixed investment index refers to the investment cost valued at the buyers cost.

Industrial Production YoY

-15.4%

In Ireland, industrial production measures the output of businesses integrated in industrial sector of the economy. Manufacturing is the most important sector and its biggest segments are: Basic pharmaceutical products and preparations (37 percent of total production); food products (18 percent); chemicals and chemical products (15 percent); computer,electronic,optical and electrical equipment (11 percent); other manufacturing, repair and installation of machinery and equipment (7 percent); and basic metals and fabricated metal products,machinery and equipment (5 percent).

Unemployment Rate

5.5%

In Ireland, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.

Bundesbank Nagel Speech

Germany is a member of the European Union which has adopted the euro. Germany's benchmark interest rate is set by the European Central Bank. The official designation for the rate is main refinancing operation.

Foreign Exchange Reserves

481600000000

In Hong Kong, 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.

BoE L Mann Speech

In the United Kingdom, benchmark interest rate is set by the Monetary Policy Committee (MPC). The Bank of England official interest rate is the repo rate. This repo rate applies to open market operations of the Bank of England with a group of counterparties (banks, building societies, securities firms).

Current Account Prel

118400000000

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).

Balance of Trade

-3100000000

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.

Foreign Exchange Reserves

515600000000

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.

S&P Global/CIPS Construction PMI

59.1

In the United Kingdom, the Markit / Chartered Institute of Purchasing and Supply Purchasing Managers Index measures the performance of the construction sector and is derived from a survey of 170 construction companies.

Retail Sales MoM

0.7%

In Italy, the Retail sales report provides an aggregated measure of sales of retail goods and services over a specific time period. In Italy, Retail sales are seasonal, volatile and relatively important to the overall economy.

Retail Sales YoY

4.3%

In Italy, the year-over-year change in Retail sales compares the aggregated sales of retail goods and services during a certain month to the same month a year ago.

Monetary Policy Meeting Minutes

In Sweden, benchmark interest rate is set by the Executive Board of the Central Bank of Sweden (The Riksbank). The main interest rate is the repo rate which is the rate of interest at which banks can borrow or deposit funds at the Riksbank for a period of seven days. The Riksbank's target is to hold inflation in terms of the CPIF (the CPI with a fixed interest rate) around 2 percent a year.

Wholesale Prices YoY

25.6%

The wholesale price index reflects the prices trends for goods that are sold by wholesale enterprises. The prices of the 387 items contained in the basket of goods are surveyed at around 200 wholesale enterprises, which voluntarily provide approximately 1400 wholesale selling prices (exclusive VAT) every month.

Wholesale Prices MoM

The wholesale price index reflects the prices trends for goods that are sold by wholesale enterprises. The prices of the 387 items contained in the basket of goods are surveyed at around 200 wholesale enterprises, which voluntarily provide approximately 1400 wholesale selling prices (exclusive VAT) every month.

Balance of Trade

-1707000000

Austria's economy is dependent on foreign trade and closely linked to the economies of other EU countries, particularly Germany. The major export commodity in Austria is the automobile and its components, machinery and paper products. Austria imports mainly machinery and equipment, motor vehicles, chemicals, metal goods, oil and oil products and foodstuffs.

Foreign Exchange Reserves

910538000000

In Switzerland, 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.

Industrial Production YoY

3%

In Spain, industrial production measures the output of businesses integrated in industrial sector of the economy. Manufacturing is the most important sector and accounts for 82 percent of total production. The biggest segments within Manufacturing are: Food products (12 percent of total production); fabricated metal products, except machinery and equipment (9 percent); motor vehicles, trailers and semi-trailers (6 percent); chemicals and chemical products (6 percent); other non-metallic mineral products (5 percent); rubber and plastic products (4 percent); machinery and equipment (4 percent); basic metals (4 percent); and beverages (4 percent). Electricity, gas, steam and air conditioning account for 14 percent of total output; Water supply, sewerage, waste management and remediation account for 3 percent; and Mining and quarrying account for 1 percent.

Industrial Production YoY

4.5%

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

Current Account

-1100000000

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).

Private Non Farm Payrolls QoQ Prel

0.6%

In France, Payroll Employment in the Private Sector refers to the number of persons, regardless of work duration, in employment on the last day of the quarter. Employment estimates are in all sectors. Until the third quarter of 2010, data refers only to mainland France. From the fourth quarter of 2010 onwards, employment estimates cover all France (excluding Mayotte).

Exports

45700000000

France exports mainly transport equipment (23 percent of total exports), of which aeronautics (12 percent) and automobile industry (10 percent). The country also exports mechanical equipment, electronic and computer equipment (19 percent); chemicals, perfumes, cosmetics (12 percent); agro-food industry products (10 percent); metallurgical and metal products (7 percent); pharmaceuticals (6 percent); textiles, leather (5 percent); rubber and plastic products, miscellaneous mineral products (4 percent); jewelry, toys, furniture (3 percent); and agricultural, forestry, fishery and aquaculture products (3 percent). Main export partners are: Germany (15 percent of total exports), Spain and Italy (8 percent each), the UK, the US and Belgium (7 percent each), China and the Netherlands (4 percent each).

Imports

France imports mainly mechanical equipment, electronic and computer equipment (21 percent of total imports); transport equipment (19 percent), of which aeronautics (11 percent) and automobile industry (7 percent); chemicals, perfumes, cosmetics (8 percent); agro-food industry products (8 percent); metallurgical and metal products (7 percent); natural hydrocarbons, other mining products, electricity (7 percent); textiles, leather (7 percent); jewelry, toys, furniture (5 percent); pharmaceuticals (5 percent); and rubber and plastic products, miscellaneous mineral products (5 percent). Main import partners are: Germany (16 percent of total imports), China (9 percent), Italy (8 percent), Belgium (7 percent), the US and Spain (6 percent each), the UK and the Netherlands (5 percent each).

Foreign Exchange Reserves

In France, the international reserves include external assets that are directly and effectively controlled by the Banque de France, readily available, denominated in foreign currency and meeting the criterion of residency. Only claims on nonresident of the Euro-area are considered as reserve assets. The international reserve assets are recorded on the basis of gross reserve asset concept.

Industrial Production MoM

0.2%

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.

Industrial Production MoM

1.3%

In Denmark, industrial production measures the output of businesses integrated in industrial sector of the economy. Manufacturing is the most important sector and accounts for 96 percent of total production. The biggest segments within Manufacturing are: food products, beverages and tobacco (23 percent of total production); machinery (19 percent); pharmaceuticals (12 percent); chemicals and oil refineries (10 percent); furniture and other manufacturing (8 percent); basic metals and fabricated metal products (7 percent); and plastic, glass and concrete (5 percent). Mining and quarrying account for 4 percent of total output.

Industrial Production YoY

13.1%

In Denmark, industrial production measures the output of businesses integrated in industrial sector of the economy. Manufacturing is the most important sector and accounts for 96 percent of total production. The biggest segments within Manufacturing are: food products, beverages and tobacco (23 percent of total production); machinery (19 percent); pharmaceuticals (12 percent); chemicals and oil refineries (10 percent); furniture and other manufacturing (8 percent); basic metals and fabricated metal products (7 percent); and plastic, glass and concrete (5 percent). Mining and quarrying account for 4 percent of total output.

Balance of Trade

-1085000000

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.

Halifax House Price Index YoY

11%

The Halifax House Price Index is the UK's longest running monthly house price series with data covering the whole country going back to January 1983. From this data, a "standardized" house price is calculated and property price movements on a like -for-like basis (including seasonal adjustments) are analyzed over time.

Halifax House Price Index MoM

1.4%

The Halifax House Price Index is the UK's longest running monthly house price series with data covering the whole country going back to January 1983. From this data, a "standardized" house price is calculated and property price movements on a like -for-like basis (including seasonal adjustments) are analyzed over time.

Retail Sales YoY

8.5%

In Romania, the year-over-year change in Retail sales compares the aggregated sales of retail goods and services during a certain month to the same month a year ago.

Retail Sales MoM

0.3%

In Romania, the Retail sales report provides an aggregated measure of sales of retail goods and services over a specific time period. In Romania, Retail sales are seasonal, volatile and relatively important to the overall economy.

S&P Global Composite PMI

37.7

In Russia, the Markit Russia Composite Output Index tracks business trends across private sector activity, based on data collected from a representative panel of around 300 companies. The index tracks variables such as sales, new orders, employment, inventories and prices. A reading above 50 indicates expansion in business activity and below 50 indicates that it is generally declining.

S&P Global Services PMI

38.1

The Markit Russia Services PMI is based on data compiled from monthly replies to questionnaires sent to purchasing executives in over 300 private service sector companies. The Index tracks variables such as sales, employment, inventories and prices. An index reading above 50 indicates an overall increase in that variable, below 50 an overall decrease.

Construction Output YoY

-11.4%

The production index in construction measures the evolution of output within the construction sector, including building construction and civil engineering.

Household Consumption MoM

-0.2%

From 2013 onwards Statistics Sweden produces new monthly statistics over household consumption. The statistics are an important indicator for the business cycle because household consumption accounts for 47 percent of the total Gross Domestic Product (GDP).

Industrial Production YoY

2.3%

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

Industrial Production MoM

0.5%

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

New Orders YoY

1.3%

In Sweden, because new orders heavily affect business confidence they are a leading indicator for growth in gross domestic product. The statistics is sample- and register-based and aims to measure short-term changes in new orders and turnover in industry on a monthly basis, in total and by industry, as well as domestic and export market. The survey is coordinated with other economy-based surveys.

Household Consumption YoY

From 2013 onwards Statistics Sweden produces new monthly statistics over household consumption. The statistics are an important indicator for the business cycle because household consumption accounts for 47 percent of the total Gross Domestic Product (GDP).

Unemployment Rate

2.4%

In Switzerland, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.

RBA Statement on Monetary Policy

In Australia, interest rates decisions are taken by the Reserve Bank of Australia's Board. The official interest rate is the cash rate. The cash rate is the rate charged on overnight loans between financial intermediaries, is determined in the money market as a result of the interaction of demand for and supply of overnight funds.

Construction PMI

53.9

The Ulster Bank Construction Purchasing Managers’ Index® is a seasonally adjusted index designed to track changes in total construction activity in Ireland. Data are collected at mid-month, asking respondents to compare a variety of business conditions with the situation one month ago. A reading of below 50.0 indicates that the economy is generally declining, above 50.0 that it is generally expanding and exactly 50.0 indicates no change on the level recorded the previous month.

Ai Group Services Index

56.2

The Australian Industry Group Australian Performance of Services Index (Australian PSI®) is a leading indicator of services activity in the Australian economy. The Australian PSI is a seasonally adjusted national composite index based on the diffusion indices for sales, orders/new business, deliveries, inventories and employment with varying weights. An Australian PSI® reading above 50 points indicates that services activity is generally expanding; below 50, that it is declining. The distance from 50 is indicative of the strength of the expansion or decline. Results are based on a sample of around 200 companies each month.