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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Swiss M3 money supply advanced in December
On a YoY basis, M3 money supply in Switzerland registered a rise of 3.20% in December. In the previous month, M3 money supply had climbed by a revised 4.30%.
US Chicago Fed national activity index rose in December
The Chicago Fed national activity index recorded a rise to 0.27 in the US, in December, higher than market expectations of an advance to a level of 0.22. In the prior month, the Chicago Fed national activity index had recorded a revised reading of 0.11.
Canadian wholesale sales rose less than expected in November
In Canada, wholesale sales advanced 0.70% in November on a monthly basis, less than market expectations for an advance of 1.20%. In the previous month, wholesale sales had recorded a revised rise of 1.60%.
BoJ maintains monetary policy steady, retains inflation outlook
The Bank of Japan (BoJ), at its January monetary policy meeting, opted to keep the benchmark interest rate steady at -0.10% and held the yield target for 10-year Japanese government bonds around 0.00%. In its quarterly economic outlook report, the central bank indicated that it would continue with “quantitative and qualitative monetary easing with yield curve control” in a bid to achieve its 2.00% inflation target. BoJ indicated that it is likely to achieve its inflation target by fiscal 2019.
Japanese convenience store sales dropped in December
Convenience store sales eased 0.30% on an annual basis in Japan, in December. Convenience store sales had registered a similar fall in the prior month.
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