Managers in Germany are expected to voice a bit more optimism about their prospects after the country’s lower house finally approved this year’s budget, which signals the start of major military and infrastructure spending in the years ahead.

An economists’ poll said the headline business climate index for Germany due Wednesday from the country’s Ifo economics institute is forecast to rise to 89.2 points from last month’s reading of 89.0, which was the highest mark since April of last year. 

The expectations measure of the index for the coming six months is projected to climb to 92.0 points from 91.6 in August, with September’s current assessment reading estimated at 86.5 versus 86.4 in the previous month. (LS – Continue Reading) 

New Zealand Finance Minister Nicola Willis on Wednesday announced that Anna Breman has been appointed as the country's new central bank governor, making her the first woman in the role.

Willis said Breman, currently the First Deputy Governor of Sweden's central bank, the Riksbank, will take up her role at the Reserve Bank of New Zealand (RBNZ) on December 1. 

"Dr Breman comes to New Zealand with an impressive blend of technical skills and organisational leadership experience," Willis said in a statement. (RTRS – Continue Reading) 

Chicago Federal Reserve President Austan Goolsbee expressed caution Tuesday about lowering interest rates as the U.S. economy grapples with the forces of slower growth and a weaker labor market.

While he joined the rest of the Federal Open Market Committee last week in voting to cut the central bank’s key borrowing rate, he told CNBC that further moves would depend on economic progress. 

“I’m OK with moving to be in a better spot, and I think eventually, at a gradual pace, rates can come down a fair amount if we can get this stagflationary dust out of the air,” he said during a “Squawk Box” interview. “But with inflation having been over the target for 4½ years in a row and rising, I think we need to be a little careful with getting all really up-front aggressive.” (CNBC – Continue Reading) 

A gauge of Australia’s monthly inflation accelerated in August to the top of the Reserve Bank’s 2-3% target, supporting the case for interest rates to remain on hold and sending the currency higher.

The Consumer Price Index indicator climbed 3% from a year earlier, the highest reading in a year, driven largely by housing costs, official data showed Wednesday. That compared with economists’ forecast for a 2.9% gain. (BBG – Continue Reading)