July 02, 2020 Bank of Jamaica announces its decision to hold the policy interest rate (the rate offered to deposit-taking institutions on overnight placements with Bank of Jamaica) unchanged at 0.50 percent per annum. The decision to hold the policy rate unchanged is based on the Bank’s continued view that monetary conditions are generally
July 02, 2020 For the week ended June 27, seasonally adjusted initial claims declined by 55,000 to 1,427,000 from the previous week’s revised level. Claims for the prior week was 1,482,000 following an upward revision of 2,000 from 1,480,000. According to the U.S. Department of Labour (DOL), “The 4-week moving average was 1,503,750, a decrease of
United States: U.S. Adds 4.8 Million Jobs, Exceeding Forecast; Claims Elevated “The rebound in the U.S. labor market accelerated in June as the economy reopened more broadly, though filings for unemployment benefits remained elevated last week as coronavirus cases picked up. Payrolls rose by 4.8 million in June after an upwardly revised 2.7 million gain
July 01, 2020 In the first quarter of 2020, the Jamaican economy decreased by 2.3% when compared to the similar quarter of 2019, according to Statistical Institute of Jamaica (STATIN). This was attributable to declines in both the Services and Goods Producing industries of 2.5% and 1.9%, respectively. Notably, the economy's output was adversely affected
United States: U.S. Stock Futures Fluctuate as New Quarter Starts: Markets Wrap “U.S. equity futures fluctuated as investors mulled downbeat economic data and simmering tensions over China’s sweeping new security law in Hong Kong. Contracts on the three main American equity gauges were little changed after figures showed U.S. companies added fewer jobs than expected
June 30, 2020 Access Financial Services Limited (AFS) for the year ended March 31, 2020 reported $1.70 billion in total interest income, a 21% increase relative to the $1.41 billion recorded in 2019. Of this, Interest Income from Loans amounted to $1.70 billion (2019: $1.40 billion) while Interest Income from Securities totalled $1.37 million (2019:
June 30, 2020 In June 2020, a month marked by the gradual lifting of COVID-19 containment measures, the euro area annual inflation rate is expected to be 0.3%, an increase from 0.1% in May, according to a flash estimate from the statistical office of the European Union (Eurostat). The highest contribution to the euro area
United States: Fed Hopes for Recovery While Preparing for a Second Virus Wave “The Federal Reserve is preparing for the possibility of an economically debilitating second wave of coronavirus infections even as it’s hoping that can be avoided. In launching the Main Street and corporate lending facilities this month and starting to buy corporate bonds, the central
June 29, 2020 Real gross domestic product (GDP) declined at an annual rate of 5% for the first quarter of 2020 according to the third estimate released by the Bureau of Economic Analysis (BEA). However, for the fourth quarter of 2019, real GDP had a 2.1% growth. The downward movement in real GDP for the
United States: The U.S.-China Feud Gets Nasty “The U.S. and China are moving beyond bellicose trade threats to exchanging regulatory punches that threaten a wide range of industries including technology, energy and air travel. The two countries have blacklisted each other’s companies, barred flights and expelled journalists. The unfolding skirmish is starting to make companies
