July 18, 2024
United States:
US Companies Boost Imports in Rush to Avoid Tariffs
A race to bring goods into the US before more tariffs on Chinese goods kick in is helping to fuel an earlier-than-usual peak season at West Coast ports.
That import frenzy is adding to a capacity crunch on Pacific trade lanes caused mainly by shipping lines avoiding attacks by Houthi rebels in the Red Sea and contributing to elevated freight charges.
Europe:
ECB Holds Rates Steady With More Data Needed for Next Cut
The European Central Bank left interest rates unchanged after last month’s landmark cut — giving away little on its plans as investors and economists bet on another move in September.
The deposit rate was kept at 3.75% on Thursday — as all 55 economists in a Bloomberg survey predicted. The ECB reiterated that borrowing costs will remain “sufficiently restrictive for as long as necessary” to ensure inflation returns to 2%.
Asia:
BOJ Likely to Skip Rate Hike This Month, Former Official Says
The Bank of Japan is unlikely to raise interest rates this month and will instead cut its bond buying a little more than expected to avoid any fueling of yen weakness, according to a former executive director at the central bank.
“I don’t think there’s a chance of a rate hike in July,” Hideo Hayakawa said in an interview Wednesday. “It’s hard to confirm from recent data that the economy is definitely progressing in line with BOJ expectations.”
Disclaimer:
Analyst Certification – The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view (s) expressed by that research analyst in this research report.
Company Disclosure – The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.
