The Bank of Japan is set to maintain its massive stimulus program on Tuesday and signal its conviction that a steady economic recovery will help achieve its ambitious price target without immediate, additional monetary easing.
Tags: Oil Prices
Britain sees no inflation in Feb for first time on record
British inflation vanished last month, hitting zero for the first time on record, official figures showed on Tuesday. The annual rate of consumer price inflation dropped to zero percent, from 0.3 percent in January, the Office for National Statistics said, keeping a rate rise by the Bank of England firmly off the table for now.
Oil slips close to $55 as Saudi output rises to near record
Oil prices declined on Monday, holding near $55 a barrel after Saudi Arabia indicated it was now pumping near a record high of 10 million barrels per day, adding to concerns of global oversupply.
Mexico's Pemex launches ethanol biofuel program to cut emissions
Pemex is set to launch its first-ever sales of gasoline mixed with cleaner-burning ethanol to reduce greenhouse gas emissions, the Mexican state-run oil company said on Thursday.
Investors eye data as stocks approach records
Investors enjoying near-record levels for major stock indexes will scrutinize housing data and other economic indicators in the coming week for hints about the timing of U.S. interest rate hikes to see if the rally will continue.
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Asian shares drifted higher on Monday after a downbeat session on Wall Street kept sentiment in check, while the euro recovered from a fresh 12-year low touched on the divergent monetary policy paths between the United States and the euro zone.
Oil prices have started to stabilize around $60 a barrel in past weeks and will continue to firm up, while crude demand will grow stronger, an adviser to Saudi Arabia's oil minister said on Sunday.
Brent crude fell towards $58 a barrel on Tuesday as the dollar scaled multi-year highs, but data showing a recovery in China's annual consumer inflation checked losses.
Whiting Petroleum Corp (WLL.N), North Dakota's largest oil producer, is seeking a possible buyer, according to the Wall Street Journal, but a person familiar with the board's thinking told Reuters he was not aware of any such plan.
Revised fourth-quarter Japanese data on Monday is likely to show capital spending was slightly stronger than expected, but overall economic growth was little changed from initial estimates, confirming the economy only managed to limp out of recession.
Brent crude oil fell almost 2 percent toward $61 a barrel on Monday after Iran said a deal on its nuclear program could be agreed this week if the West lifted sanctions, which could boost the country's oil exports.
Bank of Japan Governor Haruhiko Kuroda defended his two-year timeframe for achieving his ambitious inflation target, warning that adopting a relaxed approach to the deadline would undermine efforts to break the country out of the shackles of deflation.
U.S. economic growth braked more sharply than initially thought in the fourth quarter amid a moderate increase in business inventories and a wider trade deficit, but strong domestic demand brightened the outlook.
Japanese households cut spending further and retail sales fell for the first time in seven months in January, data on Friday is likely to show, a sign the central bank's radical stimulus has yet to convince consumers that inflation will take hold.
