Economic Calendar - Currencies

The People’s Bank of China (PBOC) on August 17th, 2019, designated the Loan Prime Rate (LPR) the new lending benchmark for new bank loans to households and businesses, replacing the central bank’s benchmark one-year lending rate. The rate is based on a weighted average of lending rates from 18 commercial banks, which will submit their LPR quotations, based on what they have bid for PBOC liquidity in open market operations, to the national interbank funding center before 9am CST on the 20th of every month.

The activity index of the tertiary industry helps to understand an overall picture of industrial activities, inclusive of all business categories in the tertiary industry. The composite index is a general indicator in which the indexes to express the activity in respective business categories are consolidated with weight in terms of the scale of relative importance of each business category (value added). Wholesale Trade is the most important sector and accounts for 15 percent of tertiary activity, followed by Medical, Health Care & Welfare and Living & Amusement-related Services (12 percent each), Information & Communications (11 percent), Retail Trade and Transport & Postal Activities (10 percent each), Finance and Insurance (9 percent), Real Estate (8 percent), Business-related Services (7 percent), and Electricity, Gas, Heat Supply & Water and Goods Rental and Leasing (3 percent each).

The activity index of the tertiary industry helps to understand an overall picture of industrial activities, inclusive of all business categories in the tertiary industry. The composite index is a general indicator in which the indexes to express the activity in respective business categories are consolidated with weight in terms of the scale of relative importance of each business category (value added). Wholesale Trade is the most important sector and accounts for 15 percent of tertiary activity, followed by Medical, Health Care & Welfare and Living & Amusement-related Services (12 percent each), Information & Communications (11 percent), Retail Trade and Transport & Postal Activities (10 percent each), Finance and Insurance (9 percent), Real Estate (8 percent), Business-related Services (7 percent), and Electricity, Gas, Heat Supply & Water and Goods Rental and Leasing (3 percent each).

In China, Foreign Direct Investment refers to foreign capital actually utilized, which is to the amount which has been actually used according to the agreements and contracts, including cash, materials and invisible capital such as labor service and technology which both parties agree to take as an investment.

In Brazil, interest rate decisions are taken by The Central Bank of Brazil's Monetary Policy Committee (COPOM). The official interest rate is the Special System of Clearance and Custody rate (SELIC) which is the overnight lending rate.

CPI median is a measure of core inflation corresponding to the price change located at the 50th percentile (in terms of the CPI basket weights) of the distribution of price changes in a given month. This measure helps filter out extreme price movements specific to certain components. This approach is similar to CPI-trim as it eliminates all the weighted monthly price variations at both the bottom and top of the distribution of price changes in any given month, except the price change for the component that is the midpoint of that distribution.

In Canada, the most important categories in the CPI basket are Shelter (30 percent of the total weight) and Transportation (17 percent). Food accounts for 16 percent; Household Operations, Furnishings and Equipment for 15 percent; Recreation, Education and Reading for 9 percent; Health and Personal Care for 5 percent; Alcoholic Beverages and Tobacco Products for 5 percent and Clothing and Footwear for the remaining 4 percent. The CPI basket is reviewed every four years on the basis of household surveys. The current weights are based on spending patterns in 2002.

Inflation Rate MoM measures month over month change in the price of goods and services.

In Canada, the core inflation rate tracks changes in prices that consumers pay for a basket of goods which excludes eight of the most volatile components identified by the Bank of Canada including: fruit, fruit preparations and nuts; vegetables and vegetable preparations; mortgage interest cost; natural gas; fuel oil and other fuels; gasoline; inter-city transportation; and tobacco products and smokers' supplies. It also excludes the effect of changes in indirect taxes.

CPI Trimmed is a measure of core inflation that excludes CPI components whose rates of change in a given month are located in the tails of the distribution of price changes. This measure helps filter out extreme price movements that might be caused by factors specific to certain components. In particular, CPI-trim excludes 20 percent of the weighted monthly price variations at both the bottom and top of the distribution of price changes, and thus it always removes 40 percent of the total CPI basket.

In Canada, benchmark interest rate is set by the Bank of Canada's (BoC) Governing Council. The official interest rate is the Overnight Rate. Since 1996 the Bank Rate is set at the upper limit of an operating band for the money market overnight rate. Previously, from March 1980 until February 1996 the Bank Rate was set at 25 basis points above the weekly average tender rate for 3-month Treasury bills.

In Canada, benchmark interest rate is set by the Bank of Canada's (BoC) Governing Council. The official interest rate is the Overnight Rate. Since 1996 the Bank Rate is set at the upper limit of an operating band for the money market overnight rate. Previously, from March 1980 until February 1996 the Bank Rate was set at 25 basis points above the weekly average tender rate for 3-month Treasury bills.

In Turkey, Government Debt refers to the central government gross debt stock in local and foreign currencies.

In New Zealand, Capacity Utilization is the difference between the potential and actual use of an input. Capacity utilization is high when actual output is close to potential output because the most use is being made of labor and capital.

In New Zealand, the most important category in the consumer price index is Housing and Utilities (28 percent of total weight). Food accounts for 18 percent; Transport for 14 percent; Recreation and Culture for 9 percent; Miscellaneous Goods and Services for 8 percent; and Alcoholic beverages and Tobacco for 7 percent. Household Goods and Services; Health; Clothing and Footwear; Communication; and Education account for the remaining 16 percent of total weight.