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monday memo: fed rate increase, mtorres grand opening in everett, inflation data


today: the labor department releases its job openings and labor turnover survey for october. tuesday: the labor department reports on the november producer price index.wednesday: federal reserve policymakers have signaled that they plan to raise their benchmark interest rate this week. look for an announcement at the conclusion of their two-day meeting, at about 11 a.m. seattle time. … the labor department reports on the november consumer price index.thursday: the commerce department releases retail sales data for november.most read storiesunlimited digital access. $1 for 4 weeks.friday: spanish engineering firm mtorres hosts local government officials and aerospace customer representatives for the grand opening of its new advanced manufacturing and innovation facility in everett. … the fe






mtorres aims to take carbon-fiber technology for jets to the next level


engineering firm mtorres, a maker of sophisticated aerospace manufacturing equipment, opened a new innovation and manufacturing center near boeing’s jet plant in everett. it’s developing a novel manufacturing method to produce one-piece carbon-fiber fuselages without fasteners.spanish engineering company mtorres arrived in the pacific northwest two years ago to compete for a bigger share of the vast american aerospace market for advanced, automated manufacturing equipment.it’ll have a grand opening next week of a big new facility in everett where it develops innovative technology for nearby boeing and other customers.for example, it produced the robotic manufacturing cells inside boeing’s newest “spar shop” in everett that drill and fasten stiffeners and rib posts to the long spars for the






uk inflation rate leaps to 2.3%


rising fuel and food prices helped to push last month's inflation rate to the highest since september 2013.inflation as measured by the office for national statistics' consumer prices index (cpi) jumped to 2.3% in february - up from 1.8% in january.the increase has pushed the rate above the bank of england's 2% target. food prices recorded their first annual increase for more than two-and-a-half years, standing 0.3% higher in february than a year earlier.the bank of england has said it expects inflation will peak at 2.8% next year, although some economists think the rate could rise above 3%.analysis: jonty bloom, business correspondentimage copyrightafp"don't panic" are the words that will be written across the bank of england's next inflation report, in large friendly letters. well, maybe






uk inflation rate leaps to 2.3%


rising fuel and food prices helped to push last month's inflation rate to the highest since september 2013.inflation as measured by the office for national statistics' consumer prices index (cpi) jumped to 2.3% in february - up from 1.8% in january.the increase has pushed the rate above the bank of england's 2% target. food prices recorded their first annual increase for more than two-and-a-half years, standing 0.3% higher in february than a year earlier.the bank of england has said it expects inflation will peak at 2.8% next year, although some economists think the rate could rise above 3%.analysis: jonty bloom, business correspondentimage copyrightafp"don't panic" are the words that will be written across the bank of england's next inflation report, in large friendly letters. well, maybe






japan inflation ticks up, jobless rate at 2.8 pct in october


tokyo (ap) — japan reports its core inflation rate rose 0.8 percent in october, a slight increase from the month before, while the jobless rate remained steady at a very low 2.8 percent.the data reported friday add to indications of a stable recovery, although the rate of price increases is well below the 2 percent official target.inflation excluding volatile food prices and energy was only 0.2 percent, suggesting much of the increase in prices was related to energy costs. electricity rates jumped 8 percent and the price of kerosene, used to heat many homes, climbed 21 percent.household incomes rose nearly 3 percent in october from a year earlier while spending was flat.most read storiesunlimited digital access. $1 for 4 weeks.japan’s economy has picked up in recent months largely thanks t






as inflation swells, some at uk central bank want rate hike


london — the bank of england is closer to raising interest rates for the first time in a decade than many had expected, with a growing number of its rate-setters appearing worried about a spike in inflation that is eating into the living standards of the british.at its latest policy meeting thursday, the bank kept its main interest rate at a record low of 0.25 percent. but a surprisingly large number of the members of its monetary policy committee — three out of eight — opted for a quarter-point increase.the bank is in a bind as its main goal is to control inflation, which at 2.9 percent annually is far above the official target of 2 percent. to bring down inflation it would have to raise rates, which would, however, hurt the economy by making loans more expensive.the central bank has in t






kashkari's dissent on rates seemed clear in the morning's inflation data


when an inflation report wednesday morning turned out to be shockingly low, there seemed little chance minneapolis fed president neel kashkari would vote with other fed policymakers to raise interest rates later in the day.since taking a voting role on the fed’s rate-setting committee in january, kashkari has repeatedly pointed to low inflation as one reason to keep interest rates steady. “right now inflation is going in the wrong direction,” kashkari said three weeks ago.and there it was wednesday afternoon in the last sentence of the central bank’s statement announcing the latest rate hike: “voting against the action was neel kashkari, who preferred at this meeting to maintain the existing target range for the federal funds rate.”when the fed last raised rates in march, kashkari also was






uk central bank surprises with split decision on rate hike


london (ap) — the bank of england is closer to raising interest rates for the first time in 10 years than many had expected, with a growing number of its rate-setters appearing worried about a spike in inflation that is eating into the living standards of the british.at its latest policy meeting thursday, the bank kept its main interest rate at a record low of 0.25 percent. but a surprisingly large number of the members of its monetary policy committee — three out of eight — opted for a quarter-point increase.the bank is in a bind as its main goal is to control inflation, which at 2.9 percent annually is far above the official target of 2 percent. to bring down inflation it would have to raise rates, which would, however, hurt the economy by making loans more expensive.the central bank has






uk inflation rate leaps to 2.3%


rising fuel and food prices helped to push last month's inflation rate to the highest since september 2013.inflation as measured by the office for national statistics' consumer prices index (cpi) jumped to 2.3% in february - up from 1.8% in january.the increase has pushed the rate above the bank of england's 2% target. food prices recorded their first annual increase for more than two-and-a-half years, standing 0.3% higher in february than a year earlier.the bank of england has said it expects inflation will peak at 2.8% next year, although some economists think the rate could rise above 3%.the brexit vote last june prompted a steep fall in the value of the pound, making imported goods more expensive. ben brettell, senior economist at hargreaves lansdown, said the fall in the pound against






uk inflation rises further above central bank’s target


london (ap) — inflation in britain spiked up to 2.9 percent in the year to august, official figures showed tuesday, in a development that has stoked market speculation the bank of england may raise interest rates sooner than expected.the office for national statistics said the increase from the previous month’s 2.6 percent rate was largely due to rising prices for clothing and motor fuels.the scale of the increase was not expected — the consensus in the markets was that inflation would increase to 2.8 percent.following the higher than expected reading, the pound struck its highest level in a year against the dollar, a clear signal that traders, at least, think that borrowing rates will be increased soon. soon after the news, the pound was up 0.8 percent at $1.3268. the pound was also in th






uk inflation rises further above central bank's target


london — inflation in britain spiked up to 2.9 percent in the year to august, official figures showed tuesday, in a development that has stoked market speculation the bank of england may raise interest rates sooner than expected.the office for national statistics said the increase from the previous month's 2.6 percent rate was largely due to rising prices for clothing and motor fuels.the scale of the increase was not expected — the consensus in the markets was that inflation would increase to 2.8 percent.following the higher than expected reading, the pound struck its highest level in a year against the dollar, a clear signal that traders, at least, think that borrowing rates will be increased soon. soon after the news, the pound was up 0.8 percent at $1.3268. the pound was also in the asc






monday memo: tech summit, fed rate meeting, local inflation data


tuesday: the bc tech summit, a two-day showcase of british columbia’s homegrown and imported technology talent, kicks off in vancouver. the expected 5,000 attendees include executives from microsoft, ibm and zynga. … the labor department releases the producer price index for february. wednesday federal reserve policymakers conclude their two-day monetary policy meeting. fed watchers expect the central bank to (finally) announce an interest-rate increase. the debate now focuses on how many rate hikes there might be this year. … the commerce department reports on february retail sales. … the u.s. bureau of labor statistics releases bimonthly inflation figures for the seattle area, as well as the national consumer price index for february. … the national association of home builders releases






inflation is back, but where it goes from here depends on the region


inflation is back around the globe—even in japan, the poster-child of an economy long beset by falling prices. the big question now is whether it will stick around.a major factor in higher global prices so far has been oil, which hit a 13-year low in january 2016 and has nearly doubled since. when that is fed into annual inflation rate data, it...






bank surprises with interest rate vote


uk interest rates have been kept on hold at 0.25%, but in a surprise move three of the bank of england's rate-setting committee backed a rate rise.the 5-3 vote by the bank's policymakers was the closest for a rate rise since 2007, and comes with inflation close to a four-year high of 2.9%.inflation is now well above the bank's target rate of 2%. news of the vote pushed the pound up by more than a cent against the dollar, although it fell back later. ian mccafferty, michael saunders and kristin forbes were the three members of the monetary policy committee (mpc) who voted for an increase. ms forbes had been the sole vote in favour of a rise at the mpc's previous two meetings. however, the decision of mr saunders and mr mccafferty to back an increase as well surprised economists."the more ha






bank surprises with interest rate vote


uk interest rates have been kept on hold at 0.25%, but in a surprise move three of the bank of england's rate-setting committee backed a rate rise.the 5-3 vote by the bank's policymakers was the closest for a rate rise since 2007, and comes with inflation close to a four-year high of 2.9%.inflation is now well above the bank's target rate of 2%. news of the vote pushed the pound up by more than a cent against the dollar, although it fell back later. ian mccafferty, michael saunders and kristin forbes were the three members of the monetary policy committee (mpc) who voted for an increase. ms forbes had been the sole vote in favour of a rise at the mpc's previous two meetings. however, the decision of mr saunders and mr mccafferty to back an increase as well surprised economists."the more ha






feeling squeezed? it may be all in your head...


household bills are rising more slowly than the rate of inflation, new research has found.the figures suggested that the "cost of living squeeze" may be less severe than previously thought. research by moneysavingexpert, based on official data, revealed the rise in the total cost of household bills was less than the inflation rate. it found costs including rent, energy bills, council tax and insurance have risen by 2.1% in the past year.that rise is in line with average earnings growth and lower than the 2.6% rise in the consumer prices index (cpi) in july. cpih, a measure of inflation that includes housing costs and council tax, also rose by 2.6% over the period.although the numbers show only a small increase across household running costs as whole, they also revealed large price hikes fo






eurozone inflation rises to target as economy improves


brussels (ap) — inflation across the 19-country eurozone pushed up to the european central bank’s target in april as an improvement in the economy showed clear signs of driving up prices.statistics agency eurostat said friday that its headline rate rose to 1.9 percent over the year to april from 1.5 percent the previous month. the increase was a tad more than expected in financial markets and means that inflation is back at the ecb’s target of just below 2 percent.the main force behind the spike was a big rise in energy costs, which were 7.5 percent higher. a year ago, they had fallen 8.7 percent. the turnaround is due to the rise in oil prices, which has pushed up inflation across the eurozone, as well as other economies, over the past year.the key development in friday’s release, however






uk inflation rate at near four-year high


image copyrightpathe rising cost of foreign package holidays and imported computer games helped to push the uk inflation rate up to 2.9% last month from 2.7% in april.the latest inflation rate is the highest since june 2013, and above the bank of england's 2% target.the office for national statistics said the price of food and clothing also went up slightly but fuel costs fell for a third month in a row.the pick-up in inflation is likely to continue the squeeze on consumers.the fall in the value of the pound since last year's brexit referendum has increased the cost of imports, which has been one of the key factors behind the rise in inflation.however, wage increases have not kept up with the rise in prices. the most recent ons data on wages showed that average weekly earnings excluding bo






uk inflation rate at near four-year high


image copyrightpathe rising cost of foreign package holidays and imported computer games helped to push the uk inflation rate up to 2.9% last month from 2.7% in april.the latest inflation rate is the highest since june 2013, and above the bank of england's 2% target.the office for national statistics said the price of food and clothing also went up slightly but fuel costs fell for a third month in a row.the pick-up in inflation is likely to continue the squeeze on consumers.the fall in the value of the pound since last year's brexit referendum has increased the cost of imports, which has been one of the key factors behind the rise in inflation.however, wage increases have not kept up with the rise in prices. the most recent ons data on wages showed that average weekly earnings excluding bo






eurozone inflation falls to lowest level this year


london — inflation across the 19-country eurozone has fallen to its lowest level this year, official figures showed wednesday, in a development that may temper speculation that the european central bank will soon consider easing up on its monetary stimulus.eurostat, the eu's statistics agency, said that inflation fell to 1.4 percent in the year through may from 1.9 percent the month before. may's rate is the lowest rate since december 2016 when inflation stood at 1.1 percent.the most important reason why inflation has been so volatile in recent months is connected to the price of oil, which is off the lows recorded last year but still swinging fairly widely. in the year to may, energy prices were up 4.6 percent. however, may's increase was the smallest this year and down sharply on april's






uk central bank divided over whether to raise interest rates


london (ap) — the bank of england has decided to keep its main interest rate at a record low of 0.25 percent as the economy weakens ahead of britain’s departure from the european union.but the decision was split, with three of the bank’s eight policymakers surprisingly voting for a rate increase.with growth slowing, inflation eating into households’ finances and the brexit talks due to start within days, the bank policymakers opted for caution at their policy meeting thursday.but the bank is in a bind as its main goal is to control inflation, which at 2.9 percent annually is well above the official target of 2 percent. to bring down inflation it would have to raise rates, which would hurt the economy by making loans more expensive.most read storiesunlimited digital access. $1 for 4 weeks.t






wholesale prices up just 0.3 percent in february


washington (ap) — inflation at the wholesale level rose at just half the rate in february as the previous month, as a surge in energy prices slowed.the labor department says its producer price index, which measures inflation pressures before they reach consumers, increased 0.3 percent in february following a 0.6 percent rise in january. part of the slowdown reflected less of an increase in energy products, which rose 0.6 percent in february after jumping 4.7 percent in january.over the past 12 months, wholesale prices are up 2.2 percent, reflecting a steady rise in inflation as energy prices have increased. just six months ago, the year-over-year increase stood at zero.the federal reserve is meeting this week and is expected to boost a key interest rate, in part to reflect rising inflation






uk inflation unexpectedly holds steady at 3 percent


london — inflation in britain held steady at a five-year high of 3 percent in the year to october, just below the level that would have forced the governor of the bank of england to write to the government explaining why prices are rising by more than a percentage point above target.tuesday's reading from the office for national statistics was unexpected. most economists had predicted a modest increase to 3.1 percent, which would have prompted an exchange of letters between bank governor mark carney and treasury chief philip hammond.earlier this month, the central bank raised its main interest rate by a quarter percentage point to 0.5 percent. that was its first increase in a decade and was due to the fact that inflation has spiked sharply higher since britain voted in june last year to le






uk inflation unexpectedly holds steady at 3 percent


london (ap) — inflation in britain held steady at a five-year high of 3 percent in the year to october, just below the level that would have forced the governor of the bank of england to write to the government explaining why prices are rising by more than a percentage point above target.tuesday’s reading from the office for national statistics was unexpected. most economists had predicted a modest increase to 3.1 percent, which would have prompted an exchange of letters between bank governor mark carney and treasury chief philip hammond.earlier this month, the central bank raised its main interest rate by a quarter percentage point to 0.5 percent. that was its first increase in a decade and was due to the fact that inflation has spiked sharply higher since britain voted in june last year






eurozone inflation rises to target as economy improves


london — inflation in the 19-country eurozone rose to the european central bank's goal in april as an improvement in the economy helped drive up prices, stoking speculation that the bank could start winding down its stimulus measures sooner than previously thought.statistics agency eurostat said friday that its headline rate rose to 1.9 percent over the year to april from 1.5 percent the previous month. the increase was a tad more than expected in financial markets and means that inflation is back at the ecb's target of just below 2 percent.the main cause of the rise was a big increase in energy costs, which were 7.5 percent higher. a year ago, they had fallen 8.7 percent.the key development in friday's release, however, was a rise in the core inflation rate, which strips out the volatile






bank surprises with interest rate vote


uk interest rates have been kept on hold at 0.25% in a surprise 5-3 vote of the bank of england's rate-setting committee.three of the eight-member monetary policy committee (mpc) voted to increase rates in the face of rising inflation.ian mccafferty, michael saunders and kristin forbes all voted for a rise.inflation is close to a four-year high of 2.9% - far above than the bank's target rate of 2%. ms forbes had been the sole vote in favour of a rise at the mpc's previous two meetings. however, the decision of mr saunders and mr mccafferty to back an increase as well surprised economists."the more hawkish tone of the mpc appears to reflect some concern about inflation - which has accelerated faster than it expected over recent months and is now forecast to exceed 3% this year - as well as






uk inflation at highest since april 2012


media playback is unsupported on your devicemedia captionpound's fall has driven inflation, says mark carneythe uk's key inflation rate hit its highest for more than five years in september, driven up by increases in transport and food prices. the consumer prices index (cpi) climbed to 3%, a level it last reached in april 2012, and up from 2.9% in august. the pick-up in inflation raises the likelihood of an increase in interest rates - currently 0.25% - next month. the figures are significant because state pension payments from april 2018 will rise in line with september's cpi.under the "triple lock" guarantee, the basic state pension rises by a rate equal to september's cpi rate, earnings growth or 2.5%, whichever is the greatest. at the moment, the full new state pension is £159.55 per w






us raises benchmark interest rate by 0.25%


image copyrightgetty imagesthe us federal reserve has raised its benchmark interest rate by 0.25% for only the third time in a decade.the central bank voted to raise its key rate target to a range of 0.75% to 1%.the fed had been expected to raise rates after a robust february jobs report, solid pay gains, rising inflation and a dip in the unemployment rate to 4.7%.federal reserve policymakers are expected to increase rates a total of three times this year.the fed aims to keep the cost of lending between banks within a specified band, which it does by buying or selling financial assets.it is raising that band by a quarter of a percent.fed chair janet yellen said the committee judged that a "modest increase" in the rate is appropriate "in light of the economy's solid progress.""even after th






bank surprises with interest rate vote


uk interest rates have been kept on hold at 0.25% in a surprise 5-3 vote of the bank of england's rate-setting committee.three of the eight-member monetary policy committee (mpc) voted to increase rates in the face of rising inflation.ian mccafferty, michael saunders and kristin forbes all voted for a rise.inflation is at close to a four-year high of 2.9% - far above than the bank's target rate of 2%. ms forbes had been the sole vote in favour of a rise at the previous meeting and this was the third time she had done so. however, the decision of mr saunders and mr mccafferty to back an increase as well surprised economists."the more hawkish tone of the mpc appears to reflect some concern about inflation - which has accelerated faster than it expected over recent months and is now forecast






yellen says fed rate hike "would likely be appropriate" at march meeting


federal reserve chairwoman janet l. yellen said friday that another small hike a key interest rate “would likely be appropriate” when monetary policymakers meet this month, as long as incoming economic data remain positive.the recovery from the great recession “has essentially met” the fed’s goals for low unemployment while inflation is “moving closer” to the central bank’s objective, yellen said in a speech at the executives' club of chicago.her comments, combined with recent statements from other top fed officials, confirm the increasing view of investors that the benchmark federal funds rate will be nudged up to a range between 0.75% and 1% at the policymaking federal open market committee’s march 14-15 meeting.“in short, we currently judge that it will be appropriate to gradually incre






eurozone inflation falls to lowest level this year


london (ap) — inflation across the 19-country eurozone has fallen to its lowest level this year, official figures showed wednesday, in a development that may temper speculation that the european central bank will soon consider easing up on its monetary stimulus.eurostat, the eu’s statistics agency, said that inflation fell to 1.4 percent in the year through may from 1.9 percent the month before. may’s rate is the lowest rate since december 2016 when inflation stood at 1.1 percent.the most important reason why inflation has been so volatile in recent months is connected to the price of oil, which is off the lows recorded last year but still swinging fairly widely. in the year to may, energy prices were up 4.6 percent. however, may’s increase was the smallest this year and down sharply on ap






wholesale prices up just 0.3 percent in february


washington — inflation at the wholesale level rose at just half the rate in february as the previous month, as a surge in energy prices slowed.the labor department said tuesday that its producer price index, which measures inflation pressures before they reach consumers, increased 0.3 percent in february following a 0.6 percent rise in january.over the past 12 months, wholesale prices are up 2.2 percent, reflecting a steady rise in inflation as energy prices have increased. just six months ago, the year-over-year increase stood at zero.the federal reserve is meeting this week and is expected to boost a key interest rate, in part to reflect rising inflation.the fed believes the optimal increase for prices is a 2 percent gain each year. but for a number of years, inflation was well below tha






british inflation rate rises to 4-year high as brexit bites


london (ap) — the inflation rate in britain has risen to its highest level in four years, as the drop in the pound since the brexit vote pushes up the cost of living.the office for national statistics said tuesday that consumer prices were up 2.9 percent on the year in may, from 2.7 percent in april. that was mainly due to rising prices for recreational and cultural goods and services, such as games, toys and hobbies.inflation has been rising steadily in recent months, as the drop in the pound — by as much as a fifth against the dollar since britain voted in june last year to leave the european union — makes imports more expensive.“the further increase in inflation — to its highest rate since june 2013 — primarily reflects retailers passing on higher import prices to consumers in earnest,”






british inflation rate rises to 4-year high as brexit bites


london (ap) — the inflation rate in britain has risen to its highest level in four years, as the drop in the pound since the brexit vote pushes up the cost of living.the office for national statistics said tuesday that consumer prices were up 2.9 percent on the year in may, from 2.7 percent in april. that was mainly due to rising prices for recreational and cultural goods and services, such as games, toys and hobbies.inflation has been rising steadily in recent months, as the drop in the pound — by as much as a fifth against the dollar since britain voted in june last year to leave the european union — makes imports more expensive.“the further increase in inflation — to its highest rate since june 2013 — primarily reflects retailers passing on higher import prices to consumers in earnest,”






consumer spending growth slows as rising inflation hits americans’ purchasing po


washington — growth in consumer spending slowed in january despite a solid increase in incomes as rising prices hurt americans’ buying power. the annual inflation rate rose to 1.9 percent, its highest level since 2012 and close to the federal reserve’s target, the commerce department said wednesday. the data boosted the likelihood that the fed would…






british inflation rate rises to 4-year high of 2.9 pct


london — the inflation rate in britain has risen to its highest level in four years, hitting 2.9 percent in may from 2.7 percent in april.the office for national statistics says rising prices for recreational and cultural goods and services, such as games, toys and hobbies were the main contributor to the increase in the consumer price index rate released tuesday.inflation has been rising in recent months, driven by the drop in the pound since britain voted last year to leave the european union. the pound has fallen as much as a fifth against other currencies, making imports more expensive.the increases were partially offset by falls in motor fuel prices, as well as air and sea fares, which were influenced by the timing of easter in april this year.






trump's executive order suspends the entry of syrian refugees into u.s.


closeskip in skipxembedxshare president trump signed two more executive actions while at the pentagon for the swearing-in ceremony of his secretary of defense james mattis. president trump signs executive orders in the hall of heroes at the department of defense on jan. 27, 2017 in arlington, virginia.(p o: getty images)president trump made good on one of his most controversial paign promises friday when he suspended the u.s. refugee program, temporarily banned all immigrants from seven muslim countries and ordered his administration to develop "extreme vetting" measures for immigrants from those countries.trump announced the immigration overhaul during a speech at the pentagon, where he said his ultimate goal was to keep "radical islamic terrorists" out of the united states. doing so is o