Central Banks

Powell answers reporters questions Coming Up! Title text for next article Highlights of his answers Nothing has happened since March to change his view on inflation FOMC continues to think they are just about at 2% goal but wanted to be sustainable FOMC generally believes fiscal policy
More hawkish comments sends the GBPUSD back higher BOE’s Ramsden is more hawkish in his comments and that has led to a quick rebound in the GBPUSD.  Says: MPC view that UK economic slowdown in early 2018 was temporary appears to beborne out by recent data Expects UK GDP growth to resume at steady but
Turkey’s central bank announces the decision of its June monetary policy meeting Prior one-week repo rate 16.50% Expectations for the decision were very much divided with forecasts all over the place from no change to a 100 bps rate hike in the one-week repo rate. That’s very much above the forecast high of a 100
It’s something that needs to be repeated Some of the smartest professors, economists and traders have no idea about how the banking system works. It goes back to the textbooks. The myth is that you deposit money at a bank, then that money is leveraged and lent out by the bank. So your $100 at
ECB chief economist Peter Praet comments in Berlin Equilibrium real interest rate has declined to very low levels Precise level is very uncertain Any decision concerning termination or extension of net purchases will hinge on the ultimate judgement of the governing council Post-QE forward guidance on policy rates will then have to be further specified
Bloomberg reported overnight saying its expected European Central Bank monetary policy making Governing Council anticipate holding a discussion on when they intend to cease asset purchases Bloomberg citing “euro-area officials familiar with the matter”   Adam had the reports as they hit here: More detail there. European Central Bank … discussion… could conclude with a
Elvira Nabiullina is head of the Central Bank of Russia, in an interview (headlines via Reuters)  Says the Russian economy, rouble has become less dependent on oil markets Bank of Russia will continue reducing dependence of banks’ balances on foreign currencies Bank wants to increase provisioning requirements for forex loans for all borrowers including export-focused
Down -$247 today The price of bitcoin rallied on Saturday and Sunday, and those moves took the price away from the 100 and 200 hour MAs (see blue and green lines in the chart below).  However, today is a different story. The price action today is more bearish. The price moved below a trend line
BOC’s Leduc in Quebec The economy is evolving largely as expected Q1 machinery imports bode well for investment growth Developments since April reinforce view that higher interest rates will be warranted to keep inflation near target Saw weak data to start the year but tenor of more recent data has been improved BOC sees trade
The June Fed decision is suddenly in play The June 13 FOMC decision is no longer a sure thing. Troubles in Europe, emerging markets and broader markets are weighing on the implied odds of a move. That shift comes despite no change in tone from Federal Reserve policymakers. Fed funds futures pricing now shows a
Reserve Bank of Australia Governor Lowe is speaking later, from 6.05pm Sydney time (0805GMT). He is speaking at the Australia-China Relations Institute, Sydney; the topic is: Australia’s Deepening Economic Relationship with China: Opportunities and Risks NAB make a point of highlighting this speech: will be carefully listened to, given the global focus on US-trade relations
Speaking in NY. Support 2 more hikes in 2018, but possibly could support an additional hike Feds Patrick Harker is speaking in NY. He says: US economy is progressing just fine.  Unemployment is likely to keep falling Sees two more hikes in 2018;  possibly could support an additional hike monetary policy is ill-equipped to fine