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September 18, 2026 7:16 AM UTC
· BOJ voted 7-2 for a 25bps hike to 1.25%, but neither the statement or Ueda press conference suggest a pick-up in the tightening pace. The economy and inflation remain more important than the JPY in BOJ decisions. The lagged feedthrough of the Iran war energy price shocks points to f

September 18, 2026 7:15 AM UTC
· BOJ voted 7-2 for a 25bps hike to 1.25%, but neither the statement or Ueda press conference suggest a pick-up in the tightening pace. The economy and inflation remain more important than the JPY in BOJ decisions. The lagged feedthrough of the Iran war energy price shocks points to f
September 17, 2026 5:33 PM UTC
We expect an advance August goods trade deficit of $122.7bn, a marginal increase from July’s $118.9bn which was the widest since the record pre-tariff deficit of $158.7bn seen in March 2025.
September 17, 2026 1:17 PM UTC
The latest data is mixed but positives outweigh the negatives. Initial claims at 196k from 206k are very low indeed and take on extra significance in that this is the survey week for September’s non-farm payroll. September’s Philly Fed manufacturing index of 37.8 is down from 47.4 but still very

September 17, 2026 1:17 PM UTC
The latest data is mixed but positives outweigh the negatives. Initial claims at 196k from 206k are very low indeed and take on extra significance in that this is the survey week for September’s non-farm payroll. September’s Philly Fed manufacturing index of 37.8 is down from 47.4 but still very
September 17, 2026 12:29 PM UTC
As expected, the BOE kept rates unchanged with the committee voting 6-3 in favour of staying at 3.75%. MPC members Green, Mann and Pill voted to increase rates by 25bp, as they did in July. Today’s monetary policy statement is essentially unchanged from the July statement, with the focus still on

September 17, 2026 12:26 PM UTC
As expected, the BOE kept rates unchanged with the committee voting 6-3 in favour of staying at 3.75%. MPC members Green, Mann and Pill voted to increase rates by 25bp, as they did in July. Today’s monetary policy statement is essentially unchanged from the July statement, with the focus still on
September 17, 2026 12:13 PM UTC
We expect a 0.3% increase in August industrial production with a 0.4% increase in manufacturing, the latter up from a 0.2% increase in July though for manufacturing ex autos we expect a second straight rise of 0.4%. This would maintain a healthy trend, supported by AI investment.