Economic Highlights
December 20, 2023 According to England’s Office of National Statistics (ONS) the Consumer Prices Index including owner occupiers’ housing costs (CPIH) rose by 4.2% in the 12 months to November 2023, down from 4.7% in October. The Consumer Prices Index (CPI) rose by 3.9%, down from 4.6% in October. On a monthly basis, CPIH fell
December 19, 2023 According to the statistical office of the European Union (Eurostat), in November 2023, the Euro area annual inflation rate was 2.4%, down from 2.9% reported in October 2023. The prior year’s rate was 10.1%. Annual inflation in the European Union was 3.1% in November 2023, down from 3.6% in October 2023. The
December 18, 2023 The Statistical Institute of Jamaica (STATIN) reported that for November 2023, the point-to-point inflation rate was +6.3%; 1.2 percentage points higher than the prior point-to-point inflation rate. However, for the month of November 2023, the inflation rate was +1.6%, the highest for the calendar year to date. The main driver of
December 14, 2023 The Bank of England’s Monetary Policy Committee (MPC) at its meeting ended December 13, 2023, voted to maintain the Bank Rate at 5.25%, as opposed to increasing the bank rate to 5.5%. The MPC believes that the bank rate will help sustain growth and employment, and ultimately meet the 2% inflation target.
December 14, 2023 On December 14, 2023, the Governing Council made the decision to keep the three key interest rates set by the European Central Bank (ECB) unchanged. Therefore, the interest rates on the main refinancing operations, the marginal lending facility, and the deposit facility will all remain unchanged at 4.50%, 4.75%, and 4.00%, respectively.
December 13, 2023 The European Union’s statistical office (Eurostat) forecasts that industrial producer prices increased by 0.2% in both the euro area and EU in October 2023 relative to September 2023, wherein prices grew by 0.5% in both zones. Relative to October 2022, industrial producer prices fell by 9.4% in the euro area and
December 12, 2023 According to Moody’s Investor Service, the outlook for global banks for 2024 is negative as tighter monetary policies by central banks have resulted in lower GDP growth. The banking sector faces challenges with reduced liquidity and strained repayment capacity, adversely affecting loan quality and increasing asset risks. Profitability gains are expected to
December 11, 2023 In November, total nonfarm payroll employment in the United States increased by 199,000, and the unemployment rate declined to 3.7 percent. Job gains were observed in the health care, and government, while employment in manufacturing also increased due to the return of workers from a strike. The U.S. Bureau of Labor Statistics
December 8, 2023 According to the statistical office of the European Union (Eurostat), in November 2023, the euro area annual inflation rate is estimated to decline to 2.4% from the 2.9% reported in October 2023. Food, alcohol & tobacco is expected to have the highest annual rate of 6.9% relative to 7.4% in October
December 8, 2023 BOJ has reported that Jamaica's Net International Reserves as at November 30, 2023 stood at US$4,597.58 million, reflecting a decrease of US$16.69 million when compared to the US$4,614.27 million reported at the end of October 2023. Foreign Assets totalled US$4,727.21 million, US$14.83 million less than the US$4,742.04 million reported in October 2023.
