yusufizzetmurat/fed-pulse-embedding-caches huggingface dataset:
[2015-01-01] growth in housing credit for owner-occupiers had remained around 6 per cent in six-month-ended annualised terms, while growth in credit for housing investors was noticeably faster, at over 10 per cent
[2015-01-01] in their discussion of the foreign economic outlook, participants generally viewed the risks from the fiscal and financial problems in greece as having diminished somewhat, although it was observed th
[2015-01-01] additional monetary stimulus is required at this time to help return the economy to full capacity and inflation sustainably to target.
[2015-01-01] This action was taken against the backdrop of heightened concerns and uncertainty created by the recent terrorist attacks and their potentially adverse effects on asset prices and the performance of t
[2015-01-01] overall, it was too early to tell whether the reduction in the rate of unemployment, or the pace of absorption of labour market slack more broadly, was beginning to ease off.
[2015-01-01] wage growth had picked up in the september quarter, following a relatively weak outcome in june, to be around rates of recent years in year-ended terms.
[2015-01-01] Although some members noted that a case could be made that the risks to inflation were now somewhat skewed to the upside and those to sustainable economic growth perhaps to the downside, the most like
[2015-01-01] some spillover effects from the events in greece had been observed in the euro area bond and equity markets, but, overall, contagion to other euro area countries had been limited.
[2015-01-01] following a moderation in growth in the march quarter, some of the recent chinese data had been more positive.
[2015-01-01] There should be able to be an adjustment that would have lower than—perhaps lower-than-expected increases in unemployment—lower than would be expected in the ordinary course of events because the leve
[2015-01-01] with regard to the baseline scenario for prices, many members expressed the view that there was considerable uncertainty, mainly in developments in medium- to long-term inflation expectations, and ris
[2015-01-01] in the foreign exchange market, the u.s. dollar had appreciated, reflecting market participants' focus on the difference in the direction of monetary policy between the united states and other countri
[2015-01-01] on this basis, a few members said that the outlook for the economy was highly uncertain and that the risk of it slowing for longer than expected warranted attention.
[2015-01-01] in all cases, the singleness of monetary policy was preserved, as reflected in the full control the governing council would always maintain over all its monetary policy instruments, including the desi
[2015-01-01] Advances in productivity had boosted profit margins, and high margins were helpful in that they could absorb some portion of any cost increases for a time.
[2015-01-01] this is in part because many central banks have eased monetary policies in recent months to counter persistent slack and low inflation, as well as the effect of lower commodity prices in some cases.
[2015-01-01] during their discussion of economic conditions and monetary policy, participants also commented on different concepts of the equilibrium real federal funds rate--that is, a reference value of the infl
[2015-01-01] many members pointed out that the second preliminary estimate of the real gdp growth rate for the july-september quarter of 2015 had been revised upward from the first preliminary estimate, particular
[2015-01-01] the various forward-looking indicators were stronger than a year earlier, but remained at levels consistent with only modest employment growth in the months ahead.
[2015-01-01] it would be hard to confirm or refute this hypothesis until further data regarding household income and saving became available.
[2015-01-01] total nonfarm payroll employment expanded at a solid pace in july and august.
[2015-01-01] (4) with regard to the trans-pacific partnership (tpp), considerable progress had been made at a ministerial meeting held recently in hawaii, in that agreement had been reached on various issues; howe
[2015-01-01] over the intermeeting period, market yields fluctuated in response to news about developments abroad, including greek debt negotiations.
[2015-01-01] a few members pointed out that the production forecast index and interviews with firms suggested that production was expected to increase moderately.
[2015-01-01] And, and those are—that’s again—that goes to keeping this episode as short as it can be and avoiding unnecessary business bankruptcies, unnecessary household bankruptcies, and unnecessary long-term st
[2015-01-01] the march increase in payrolls had been smaller than expected, and the unemployment rate had remained steady.
[2015-01-01] the impact of oil prices on inflation expectations should, in principle, be transitory and of limited relevance over medium-term and longer-term horizons.
[2015-01-01] to the upside, it was possible that the unemployment rate might continue to fall more briskly than assumed causing increased pressure on pay rates relative to productivity, and therefore on medium-ter
[2015-01-01] And, as I went into detail in Jackson Hole and won’t repeat all of that there, there are other ways in which we see underutilization—high levels that have come down only very marginally of part-time e
[2015-01-01] many participants mentioned that selling assets that will mature in a relatively short time could be considered at some stage, if necessary to reduce on rrp usage.
[2015-01-01] We have Chair Yellen’s Press Conference FINAL households who are becoming more comfortable with their debt levels and more able to service that debt, an improving job market.
[2015-01-01] accordingly, the governing council did not change its assessment of a broadening of the euro area’s economic recovery and of a gradual increase in inflation rates over the coming years, which was pred
[2015-01-01] the committee would have the chance to assess the updated fiscal projections in the preparation of its august _inflation report._ the may business surveys had been somewhat mixed.
[2015-01-01] complementing earlier positive evidence from the bank lending survey on the general improvements in credit market conditions, the recent survey on enterprises’ access to finance (safe) had provided in
[2015-01-01] financial conditions in major economies remain very accommodative and continue to provide much-needed support to economic activity.
[2015-01-01] I think we all agree that the economy is making progress, that we are close to an unemployment rate that is one that’s sustainable in the longer run.
[2015-01-01] As a result, growth of spending on consumer durables and houses was expected to slow
[2015-01-01] although there is considerable uncertainty around the outlook, the bank is projecting real gdp growth will slow to about 1 1/2 per cent and the output gap to widen in the first half of 2015.
[2015-01-01] the new government had announced its intention to present an updated budget on 8 july.
[2015-01-01] both private consumption and total investment rose by 0.4%, quarter on quarter, in the last quarter of the year, with investment driven by construction.
[2015-01-01] one member pointed out that investment was expected to accelerate further in light of moves such as the shifting of production sites back to japan and the expansion of investment in research and devel
[2015-01-01] there were still risks from a number of sources in advanced and emerging economies, however, including any disorderly outcome from a failure to reach agreement on a new greek programme.
[2015-01-01] given this judgment about potential output, the canadian economy can be expected to return to full capacity, and inflation sustainably to target, around mid-2017.
[2015-01-01] one member said that no concrete evidence had been presented to suggest a buildup of financial imbalances.
[2015-01-01] the complex economic adjustments to the decline in canada’s terms of trade will continue to play out over the projection horizon.
[2015-01-01] growth in crude steel production had been modest and steel prices had fallen noticeably over the past month.
[2015-01-01] the bank expects canada’s economy to gradually strengthen in the second half of this year, with real gdp growth averaging 2.1 per cent in 2015 and 2.4 per cent in 2016.
[2015-01-01] exports remained on an increasing trend, but the pace had slowed somewhat.
[2015-01-01] the nikkei 225 stock average had increased somewhat, mainly due to anticipation of improvement in corporate profits.
[2015-01-01] business investment in the energy-producing sector will decline.
[2015-01-01] looking ahead to 2016 and 2017, the positive effects of cheaper energy and broadly accommodative financial conditions should become increasingly evident.
[2015-01-01] the unemployment rate, at 5.0 percent in november, was 0.7 percentage point lower than in january and close to most participants' estimates of its longer-run normal level.
[2015-01-01] moreover, the slowdown in demand in china could contribute to greater global uncertainty and a possible loss of confidence, which could have a more substantial impact on global growth.
[2015-01-01] as for durable consumer goods, sales of passenger cars had marked a somewhat large decline, reflecting movements in those of small cars with engine sizes of 660cc or less.
[2015-01-01] With regard to the outlook for inflation, members referred to widespread indications of increasingly tight labor markets and to statistical and anecdotal reports of faster increases in labor compensat
[2015-01-01] in considering whether or not to reduce the cash rate further at this meeting, members discussed the various channels through which monetary policy was affecting the economy at present, including the
[2015-01-01] members widely shared the assessment and policy considerations put forward by mr praet in his introduction.
[2015-01-01] the number of housing starts -- a leading indicator of housing investment -- had picked up from the start of the year onward, mainly in owner-occupied houses and apartments for rent.
[2015-01-01] in 2016 and 2017 inflation was expected to rise further, owing to a gradual decline in economic slack and positive external price pressures, reflecting the lagged effect of the exchange rate and the u
[2015-01-01] a few members pointed out, for example, that the chinese authorities had been making a very strong commitment to underpinning the economic growth rate, and that japanese-affiliated firms in china were
[2015-01-01] With regard to the federal sector, spending related to last year’s hurricanes appeared likely to abate, and federal expenditures overall would probably be providing less impetus to aggregate demand go
[2015-01-01] risks to the outlook for inflation are now roughly balanced and risks to financial stability appear to be evolving as expected.
[2015-01-01] global growth is expected to strengthen over the second half of 2015, averaging about 3 per cent for the year, and accelerate to around 3 1/2 per cent in 2016 and 2017.
[2015-01-01] the oil price shock increases both downside risks to the inflation profile and financial stability risks.
[2015-01-01] slower employment growth, along with the upward revisions to the gdp data over the past year meant that productivity growth had appeared less weak than previously.
[2015-01-01] therefore, the target for the overnight rate remains at 1/2 per cent.
[2015-01-01] with regard to the economic analysis, the members of the governing council generally shared the assessment of the outlook and risks for economic activity in the euro area provided by mr praet in his i
[2015-01-01] equity prices had increased by 4 per cent since the start of 2015 even though prices of resource companies had fallen further.
[2015-01-01] the number of housing starts -- a leading indicator of housing investment -- had picked up from the start of the year onward, mainly in housing for rent, albeit with fluctuations.
[2015-01-01] in the light of these developments and the new sources of uncertainty, there was no need to act at the present meeting, but it was very important that the governing council found the right balance bet
[2015-01-01] Although some decline in inflation could not be ruled out, persistence of the current degree of tightness in labor markets, consistent with the economy growing at a pace near its potential, could at s
[2015-01-01] however, on the basis of ecb staff analysis and the work carried out by eurosystem committees, the first option was considered to be less effective in the current environment.
[2015-01-01] the bank’s assessment is that the impact of the oil price shock on growth will be more front-loaded than predicted in january, but not larger.
[2015-01-01] some members referred to the fact that, according to high-frequency price-related indicators, moves toward sales price revisions had become widespread with regard, for example, to daily necessities an
[2015-01-01] the outstanding balance of loans disbursed by the bank amounted to 24,510.8 billion yen after the new loan disbursement.
[2015-01-01] second, it was argued that the persistence of low inflation in the euro area was part of a wider phenomenon of low global inflation and that a sustained rise in euro area prices would be difficult to
[2015-01-01] outside the energy sector, we are beginning to see the anticipated sequence of increased foreign demand, stronger exports, improved business confidence and investment, and employment growth.
[2015-01-01] After robust growth in the second quarter, M2 decelerated somewhat and M3 was about unchanged in July.
[2015-01-01] this will support consumption, which will also receive a fiscal boost.
[2015-01-01] inflationary pressures remained well contained and were likely to remain so in the period ahead.
[2015-01-01] With regard to the nation as a whole, members noted that rising levels of employment and incomes were continuing to foster solid growth in consumer spending, a development that was abetted by the shar
[2015-01-01] one member was of the opinion that firms' wage- and price-setting behavior had been changing to behavior that assumed a continuous rise in prices, and this provided evidence that the deflationary mind
[2015-01-01] resource exports looked to have rebounded in the september quarter, following earlier disruptions from adverse weather and some unanticipated shutdowns of lng facilities.
[2015-01-01] in the same vein, the april 2015 bank lending survey pointed to improving loan supply and demand conditions.
[2015-01-01] the pick-up in indicators related to consumer sentiment was also becoming evident.
[2015-01-01] If the recent slower rate of price declines on high-tech products implied a softer underlying pace of technological change, both the outlook for investment demand and the prospects for persisting high
[2015-01-01] at the same time, economies continue to adjust to lower oil prices, which have fluctuated at or below levels assumed in the january mpr.
[2015-01-01] consumer price inflation moved further below the fomc's longer-run objective of 2 percent, held down by continuing large decreases in energy prices.
[2015-01-01] members noted that it was not clear which assets the chinese authorities had sold as part of the recent intervention nor which assets were being bought by those taking capital out of china, but given
[2015-01-01] over the past year, resource exports had grown strongly and further growth was in prospect as the production of liquefied natural gas ramped up.
[2015-01-01] the budget for fiscal 2016 would be the first under the plan to advance economic and fiscal revitalization, and the government deemed it necessary to fully realize this plan to achieve its goal of gen
[2015-01-01] the easing in population growth over the past year helped to reconcile below-average growth in output with the relatively steady unemployment rate.
[2015-01-01] in the economic and fiscal projections for medium- to long-term analysis released by the cabinet office, the national and local governments' primary balance-to-gdp ratio for fiscal 2015 was projected
[2015-01-01] news of the volkswagen emissions scandal in late september adversely affected european equities, while equity prices in emerging markets had partly recovered from their falls in late august, although
[2015-01-01] such a downward revision to the inflation outlook was seen as potentially worrisome, especially when coupled with less robust evidence of a sustained turning point in underlying inflation, as it would
[2015-01-01] the slowdown in asia had been more persistent than earlier anticipated and had contributed to lower commodity prices, along with increased supply of commodities, including from australia.
[2015-01-01] this has pulled down prices of certain commodities that are important to canada’s exports.
[2015-01-01] but, given that accumulated pension pots were in many cases relatively modest in size, this was not likely to result in a significant pick up in either spending or asset prices.
[2015-01-01] it was highlighted that borrowing conditions for firms and households had improved further since the governing council’s previous monetary policy meeting, which was seen as a sign of receding impairme
[2015-01-01] the swift and effective implementation of such reforms, in an environment of accommodative monetary policy, would not only lead to higher sustainable economic growth in the euro area but would also ra
[2015-01-01] regarding inflation expectations, the ecb survey of professional forecasters for the second quarter of 2015 indicated that the expected five-year-ahead inflation rate stood at 1.84%, after 1.77% in th
[2015-01-01] this member considered these facts to be a positive development.
[2015-01-01] inflation has evolved in line with the outlook in the bank’s july monetary policy report (mpr).
[2015-01-01] market-based measures of inflation compensation moved lower; survey measures of longer-term inflation expectations remained stable.
[2015-01-01] estimates of such equilibrium real interest rates were highly uncertain, but some participants reported that their estimates were currently unusually low by historical standards, reflecting, for examp
[2015-01-01] nonetheless, home construction was still below the trend that would appear consistent with population growth, sales remained at low levels, and credit availability was still relatively tight.
[2015-01-01] those projections remained above market expectations, which had flattened further following the fomc's reassessment and again after the release of weaker-than-expected employment data for march.
[2015-01-01] during the first two weeks of the bond sell-off, yields had generally increased by less than those on german government bonds, but yield spreads had widened during the second half of may.
[2015-01-01] four-quarter chinese gdp growth had slowed to 7% in q1, a little weaker than expected in the february _inflation report, and annual growth in industrial production had fallen to 5.6% in march.
[2015-01-01] regarding the corporate sector, members agreed that, although the pace of increase in exports had slowed, partly due to the effects of the appreciation of the many members referred to relatively low g
[2015-01-01] Against the background of its long-run goals of price stability and sustainable economic growth and of the information currently available, the Committee believes that the risks continue to be weighte
[2015-01-01] underneath the effects of the oil price shock, the natural sequence of stronger non-energy exports, increasing investment, and improving labour markets is progressing.
[2015-01-01] with this revised growth profile, the output gap is significantly larger than was expected in april, and closes somewhat later.
[2015-01-01] in the foreign exchange market, the euro had risen against most major currencies, including the us dollar, in part supported by expectations of a postponement of a first rise in official interest rate
[2015-01-01] they concurred that employee income was likely to continue to do so in line with the recovery in economic activity and business performance.
[2015-01-01] total cpi inflation is projected to be temporarily below the inflation-control range during 2015, moving back up to target the following year.
[2015-01-01] summing up, mr praet noted that the euro area economic recovery was expected to continue at a somewhat slower pace than previously anticipated, largely reflecting the slowdown in emerging market econo
[2015-01-01] activity in the housing sector improved somewhat in recent months but remained slow.
[2015-01-01] summing up, mr praet noted that the euro area economy had gained further momentum since the end of 2014, with increasing signs that the economic recovery would broaden and strengthen gradually – consi
[2015-01-01] non-tradables inflation had declined in the september quarter, suggesting that domestic inflationary pressures were well contained and consistent with low growth in labour costs and moderate demand gr
[2015-01-01] at the same time, it was urgently felt that the crucial role played by other policy areas needed to be underlined, so as to avoid overburdening monetary policy and to ensure that other policy areas co
[2015-01-01] The unemployment rate was 3.5 percent in February and has been at or near half-century lows for almost two years.
[2015-01-01] In addition, the Committee reaffirmed its intention to keep the target federal funds rate at 0 to 1/4 percent and retained its forward guidance that it anticipates that this exceptionally low range fo
[2015-01-01] the bank’s base-case projection assumes oil prices around us$60 per barrel.
[2015-01-01] regarding the corporate sector, members agreed that, although the pace of increase in exports had slowed, partly due to the effects of the appreciation of the dollar, business sentiment and the moment
[2015-01-01] global economic growth has been a little weaker than expected this year, but the dynamics pointing to a pickup in 2016 and 2017 remain largely intact.
[2015-01-01] the negative impact of lower oil prices will gradually be mitigated by a stronger u.s. economy, a weaker canadian dollar, and the bank’s monetary policy response.
[2015-01-01] moreover, while recent market volatility had not materially changed the assessment of the economic outlook, continued elevated uncertainty called for alertness and a readiness to respond, if necessary
[2015-01-01] as for the outlook, members concurred that overseas economies as a whole were likely to moderately increase their growth rates, as it was likely that advanced economies would continue to see firm grow
[2015-01-01] in india, the economy had been growing steadily, particularly in domestic demand, partly in reflection of expectations for structural reforms and of monetary easing effects.
[2015-01-01] the available information from district business contacts was generally consistent with the recent trend in data on spending, although a couple of reports noted that households were spending cautiousl
[2015-01-01] persistent headwinds from deleveraging and lingering uncertainty will influence the extent to which some oil-importing countries benefit from lower prices.
[2015-01-01] large falls in chinese equity prices had occurred again more recently, resulting in cumulative falls from recent peaks being back around 30 per cent, although equity prices remained 70 per cent higher
[2015-01-01] members concurred that particular attention should continue to be paid to developments in global financial markets, including the chinese stock market.
[2015-01-01] more recently, as a result of the increase in lending rates to investors in housing, a significant amount of housing lending had been reclassified from investment to owner-occupation.
[2015-01-01] with regard to the eligibility of agency issuers for the pspp, the governing council decided on a list of additional eligible agencies located in the euro area, which would apply from 16 april 2015 fo
[2015-01-01] housing activity was improving, with sales and new construction trending higher.
[2015-01-01] bank lending rates remained on a declining trend amid monthly volatility.
[2015-01-01] the lower outlook for canadian growth has increased the downside risks to inflation.