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Toshimitsu Motegi, Japan's Minister of Economy, made the following remarks:
• We need to look at many economic data to judge the strenghth of consumer spending.
Markets rushed to safe havens after North Korea fired a rocket passed over northern Japan in a provocative act from Pyongyang that led to increased global tensions. The missile landed in the Pacific Ocean about 1,200 kilometers from Japanese shores.
US President Donald Trump tweeted yesterday expressed that he wasn't pleased with the NAFTA renegotiation process. Trump said: " We are in the NAFTA (worst trade deal ever made) renegotiation process with Mexico & Canada. Both being very difficult, may have to terminate?"
The oil refineries in Texas have shut down due to the rain and floods caused by Hurricane Harvey. The loss of production could result in more than 1 million barrels per day of refining capacity in Houston and Galveston, and that does not include hundreds of thousands of barrels in Corpus Christi.
Comments from the Bank of Tokyo - Mitsubishi after the end of the Jackson Hole Conference as follows:
• Statements by Janet Yellen, the Federal Reserve Governor and almost free to talk about monetary policy through Jackson hole are not unexpected.
The opposition Labor Party supports Britain to remain within the single Market and the European Customs Union during the transitional period after Britain leaves the European Union. The party spokesman said they would seek to maintain the same basic conditions as the European Union, including freedom of movement beyond March 2019, when Britain leaves.
Boris Johnson, the British Foreign minister, made the following statement:
• We should not pay more or less of our legal obligations.
The final reading of Germany's gross domestic product (GDP) has released today, which confirmed that euro zone's largest economy grew by 0.6% in the second quarter of 2017, and that was the fastest pace of economic growth since 2014.
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