Some central banks, including the Bank of England and the European Central Bank, condition their forecasts on paths implied by financial market prices; others, including the Sveriges Riksbank and the Norges Bank, condition their forecasts on staff expectations of
the future policy interest rate.
Not exact matches
Important factors that could cause actual results to differ materially from those reflected in such forward - looking statements and that should be considered in evaluating our outlook include, but are not limited to, the following: 1) our ability to continue to grow our business and execute our growth strategy, including the timing, execution, and profitability of new and maturing programs; 2) our ability to perform our obligations under our new and maturing commercial, business aircraft, and military development programs, and the related recurring production; 3) our ability to accurately estimate and manage performance, cost, and revenue under our contracts, including our ability to achieve certain cost reductions with respect to the B787 program; 4) margin pressures and the potential for additional forward losses on new and maturing programs; 5) our ability to accommodate, and the cost of accommodating, announced increases in the build
rates of certain aircraft; 6) the effect on aircraft demand and build
rates of changing customer preferences for business aircraft, including the effect of global economic conditions on the business aircraft market and expanding conflicts or political unrest in the Middle East or Asia; 7) customer cancellations or deferrals as a result of global economic uncertainty or otherwise; 8) the effect of economic conditions in the industries and markets in which we operate in the U.S. and globally and any changes therein, including fluctuations in foreign currency exchange
rates; 9) the success and timely execution of key milestones such as the receipt of necessary regulatory approvals, including our ability to obtain in a timely fashion any required regulatory or other third party approvals for the consummation of our announced acquisition of Asco, and customer adherence to their announced schedules; 10) our ability to successfully negotiate, or re-negotiate,
future pricing under our supply agreements with Boeing and our other customers; 11) our ability to enter into profitable supply arrangements with additional customers; 12) the ability of all parties to satisfy their performance requirements under existing supply contracts with our two major customers, Boeing and Airbus, and other customers, and the risk of nonpayment by such customers; 13) any adverse impact on Boeing's and Airbus» production of aircraft resulting from cancellations, deferrals, or reduced orders by their customers or from labor disputes, domestic or international hostilities, or acts of terrorism; 14) any adverse impact on the demand for air travel or our operations from the outbreak of diseases or epidemic or pandemic outbreaks; 15) our ability to avoid or recover from cyber-based or other security attacks, information technology failures, or other disruptions; 16) returns on pension plan assets and the impact of
future discount
rate changes on pension obligations; 17) our ability to borrow additional funds or refinance debt, including our ability to obtain the debt to finance the purchase price for our announced acquisition of Asco on favorable terms or at all; 18) competition from commercial aerospace original equipment manufacturers and other aerostructures suppliers; 19) the effect of governmental laws, such as U.S. export control laws and U.S. and foreign anti-bribery laws such as the Foreign Corrupt Practices Act and the United Kingdom Bribery Act, and environmental laws and agency regulations, both in the U.S. and abroad; 20) the effect of changes in tax law, such as the effect of The Tax Cuts and Jobs Act (the «TCJA») that was enacted on December 22, 2017, and changes to the interpretations of or guidance related thereto, and the Company's ability to accurately calculate and estimate the effect of such changes; 21) any reduction in our credit
ratings; 22) our dependence on our suppliers, as well as the cost and availability of raw materials and purchased components; 23) our ability to recruit and retain a critical mass of highly - skilled employees and our relationships with the unions representing many of our employees; 24) spending by the U.S. and other governments on defense; 25) the possibility that our cash flows and our credit facility may not be adequate for our additional capital needs or for payment of
interest on, and principal of, our indebtedness; 26) our exposure under our revolving credit facility to higher
interest payments should
interest rates increase substantially; 27) the effectiveness of any
interest rate hedging programs; 28) the effectiveness of our internal control over financial reporting; 29) the outcome or impact of ongoing or
future litigation, claims, and regulatory actions; 30) exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco business and generate synergies and other cost savings; 32) our ability to consummate our announced acquisition of Asco in a timely matter while avoiding any unexpected costs, charges, expenses, adverse changes to business relationships and other business disruptions for ourselves and Asco as a result of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing program; 34) the risks of doing business internationally, including fluctuations in foreign current exchange
rates, impositions of tariffs or embargoes, compliance with foreign laws, and domestic and foreign government
policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other things.
His remarks can't be considered a roadmap for the
future path of
interest rates; he made a point of stating that every
policy meeting is «live,» meaning the latest data could alter assumptions.
Gold slid to a four - month low on Tuesday as the dollar strengthened ahead of a US Federal Reserve
policy meeting that is being watched for clues on the
future pace of
interest rate hikes.
The index measures 500 consumers» attitudes on
future economic prospects, in areas such as personal finances, inflation, unemployment, government
policies and
interest rates.
The 30 - day Fed Fund
futures can be used as a guide to predict when the Fed might increase
interest rates since the prices are an expression of trader's views on the likelihood of changes in U.S. monetary
policy.
Such risks, uncertainties and other factors include, without limitation: (1) the effect of economic conditions in the industries and markets in which United Technologies and Rockwell Collins operate in the U.S. and globally and any changes therein, including financial market conditions, fluctuations in commodity prices,
interest rates and foreign currency exchange
rates, levels of end market demand in construction and in both the commercial and defense segments of the aerospace industry, levels of air travel, financial condition of commercial airlines, the impact of weather conditions and natural disasters and the financial condition of our customers and suppliers; (2) challenges in the development, production, delivery, support, performance and realization of the anticipated benefits of advanced technologies and new products and services; (3) the scope, nature, impact or timing of acquisition and divestiture or restructuring activity, including the pending acquisition of Rockwell Collins, including among other things integration of acquired businesses into United Technologies» existing businesses and realization of synergies and opportunities for growth and innovation; (4)
future timing and levels of indebtedness, including indebtedness expected to be incurred by United Technologies in connection with the pending Rockwell Collins acquisition, and capital spending and research and development spending, including in connection with the pending Rockwell Collins acquisition; (5)
future availability of credit and factors that may affect such availability, including credit market conditions and our capital structure; (6) the timing and scope of
future repurchases of United Technologies» common stock, which may be suspended at any time due to various factors, including market conditions and the level of other investing activities and uses of cash, including in connection with the proposed acquisition of Rockwell; (7) delays and disruption in delivery of materials and services from suppliers; (8) company and customer - directed cost reduction efforts and restructuring costs and savings and other consequences thereof; (9) new business and investment opportunities; (10) our ability to realize the intended benefits of organizational changes; (11) the anticipated benefits of diversification and balance of operations across product lines, regions and industries; (12) the outcome of legal proceedings, investigations and other contingencies; (13) pension plan assumptions and
future contributions; (14) the impact of the negotiation of collective bargaining agreements and labor disputes; (15) the effect of changes in political conditions in the U.S. and other countries in which United Technologies and Rockwell Collins operate, including the effect of changes in U.S. trade
policies or the U.K.'s pending withdrawal from the EU, on general market conditions, global trade
policies and currency exchange
rates in the near term and beyond; (16) the effect of changes in tax (including U.S. tax reform enacted on December 22, 2017, which is commonly referred to as the Tax Cuts and Jobs Act of 2017), environmental, regulatory (including among other things import / export) and other laws and regulations in the U.S. and other countries in which United Technologies and Rockwell Collins operate; (17) the ability of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the merger) and to satisfy the other conditions to the closing of the pending acquisition on a timely basis or at all; (18) the occurrence of events that may give rise to a right of one or both of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination fee of $ 695 million to United Technologies or $ 50 million of expense reimbursement; (19) negative effects of the announcement or the completion of the merger on the market price of United Technologies» and / or Rockwell Collins» common stock and / or on their respective financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted in their operation of their businesses while the merger agreement is in effect; (21) risks relating to the value of the United Technologies» shares to be issued in connection with the pending Rockwell acquisition, significant merger costs and / or unknown liabilities; (22) risks associated with third party contracts containing consent and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings; and (24) the ability of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personnel.
Much of the effectiveness of Canadian monetary
policy depends on the Bank of Canada's credibility: managing expectations for the
future is at least as important as setting short - term
interest rates.
After the Fed's
policy statement, traders of U.S. short - term
interest -
rate futures on Wednesday kept bets the Fed will raise
interest rates at least two more times this year.
Importantly, this
future low level of
interest rates is not due to easy monetary
policy; instead, it is the
rate expected to prevail when the economy is at full strength and the stance of monetary
policy is neutral.
With the global economy «floating on an ocean of credit,» the current acceleration of credit via central bank
policies will likely produce a positive
rate of real economic growth this year for most developed countries, PIMCO chief Bill Gross writes in his latest monthly commentary, but «the structural distortions brought about by zero bound
interest rates will limit that growth and induce serious risks in
future years.»
We believe that action should be taken to eliminate this structural deficit, not only because it is unfair to
future generations, but also because it would reduce the exposure of the budget to
interest rate shocks and provide greater short - term
policy flexibility.
This way, expectations for the FOMC's
future policy stance will be properly incorporated into the term structure of
interest rates, and thereby appropriately affect broad financial conditions and the broader economy.
On the monetary
policy side, the Federal Reserve cut short - term
interest rates close to zero, communicated that short - term
rates were likely to stay exceptionally low far into the
future, and undertook a series of large - scale asset purchases in order to ease financial conditions further.
In that light, the mismanagement of central bank communications threatens the effectiveness of U.S.
interest rate policy, present and
future.
The central bank made a concerted effort starting late last year to divorce its «forward guidance» on
interest rates, what it tells markets about the expected
future path of
policy, from specific calendar dates.
That's when the central is expected to raise
interest rates again, based on the 30 - day Fed Fund
futures prices, which gauge the market's outlook on monetary
policy.
It is possible that a large part of the decline in implied volatilities of
interest rates can be attributed to reduced uncertainty about the
future path of monetary
policy at that turning point.
Instead of forcing a reluctant public to spend on the premise of substitution effect, a more normal
rates regime would likely be effective to induce higher investment by aligning
policy with the public's
interest to meet
future obligations.
In a speech entitled «The Federal Reserve's Monetary
Policy Toolkit: Past, Present and Future,» Fed chair Janet Yellen outlined why zero interest rate policy (ZIRP), purchases of toxic mortgage securities, and monetization of Treasury debt just aren't ade
Policy Toolkit: Past, Present and
Future,» Fed chair Janet Yellen outlined why zero
interest rate policy (ZIRP), purchases of toxic mortgage securities, and monetization of Treasury debt just aren't ade
policy (ZIRP), purchases of toxic mortgage securities, and monetization of Treasury debt just aren't adequate.
Over the past several years the prices of gold
futures contracts have generally been very close to the spot price and there have been regular small dips in
futures prices to below the spot price, but this situation is a natural and predictable effect of the Fed's unnatural zero -
interest -
rate policy.
The lower the
interest rate the smaller the difference will tend to be between the spot price and the prices for future delivery, so in a world dominated by ZIRP (Zero Interest Rate Policy) the differences between spot and futures prices will generally be smaller tha
interest rate the smaller the difference will tend to be between the spot price and the prices for future delivery, so in a world dominated by ZIRP (Zero Interest Rate Policy) the differences between spot and futures prices will generally be smaller than us
rate the smaller the difference will tend to be between the spot price and the prices for
future delivery, so in a world dominated by ZIRP (Zero
Interest Rate Policy) the differences between spot and futures prices will generally be smaller tha
Interest Rate Policy) the differences between spot and futures prices will generally be smaller than us
Rate Policy) the differences between spot and
futures prices will generally be smaller than usual.
Forward guidance is a tool used by a central bank to exercise its power in monetary
policy in order to influence, with their own forecasts, market expectations of
future levels of
interest rates.
Jury is still out on secular stagnation — «At present, it looks likely that the equilibrium
interest rate will remain low for the
policy - relevant
future, but there have in the past been both long swings and short - term changes in what can be thought of as equilibrium real
rates»
We think the speculation about a potential
future tightening of monetary
policy by the ECB — whether in the form of a tapering of bond purchases or a rise in
interest rates — has moved too far ahead of the economic and political realities within the eurozone.
As Bank of Japan governor Haruhiko Kuroda put it: «With the level of nominal
interest rates being high, Japan's economy will have more
policy room to mitigate the impact of
future economic downturns, or will be equipped with a sort of insurance for sustained economic growth.»
The Bank of Japan will consider making negative
interest rates the centrepiece of
future monetary easing by shifting its prime
policy target from base money to
interest rates at its review, Reuters reported on Sept. 14, citing sources familiar with its thinking.
Scotland's
Future proposes that the Bank of England will become Scotland's lender of last resort, set the
interest rates for both Scotland and the remainder of the UK, and determine monetary
policy for the area.
The term structure reflects expectations of market participants about
future changes in
interest rates and their assessment of monetary
policy conditions.
These are notes that were taken during the Fed's last
interest rate meeting, and the notes offer further insight into the Fed's decision - making process, and they can give the market clues about
future monetary
policy decisions.
With the end of QE1 -2-3, the Fed's
policy making tools will focus on
interest rates, forward guidance or announcements of
future policy and possibly some of the Fed's banking regulations.
She also expressed confidence that the Fed will be well positioned to deal with a
future downturn in the economy given the current
policy tools including
interest rate management, quantitative easing and forward guidance.
If you're thinking of buying a cash value life insurance
policy, ask your agent or company for a sales illustration, which is a computer projection of
future premiums, cash values and death benefits based on the current dividend scale (whole life) or current
interest rates and current costs of insurance (universal life).
The only problem at the moment is that price action is bullish S&P 500
futures picking up from lows this morning after Asian stocks fell overnight (Chinese market down more than 3 %) on broadly negative comments from
policy makers, especially out of China with researcher Zhang Ming (Academy of Social Sciences) pointed out that capital controls could be strengthened to address speculative inflows related to low US
interest rates.
Eurodollar
Future — June 2010 Comment: As front month Eurodollar contracts continue to inch up towards 100.00, and red months to new record highs, the zero
interest rate policy has done nothing to resuscitate the corpse that is the money market â $ «today and for over a year.
The
Policy Portfolio and the Next Equity Bear Market Fed Leaves Punchbowl, Takes Away Free Lunch (of International Diversification) Five Global Risks to Monitor in 2012 Rising Global
Interest Rates Create Headwinds Three Profit Metrics to Avoid Earnings Season Myopia Changes in the Inflation
Rate Matter as Much to Investors as the Level An Uneven Global Recovery — Lingering Effects of the Credit Crisis Perspectives on «Non-Traditional» Monetary
Policy Do Past 10 - Year Returns Forecast
Future 10 - Year Returns?
Rising
interest rates and expectations of
future changes in monetary
policy have at times impacted the share prices of stock exchange - listed equity REITs.
An
interesting thought - experiment is to assess the likelihood of
future interest rates having risen sufficiently to give monetary
policy the headroom necessary to cushion a recession.
For example, if you buy a UL
policy in times of high
interest rates, your cash values may accelerate rapidly, outperforming your original expectations, and allowing you to pay less in premiums in
future years.
Protect your financial
future and potentially build money inside your
policy, called cash value, with competitive
interest rates.
3
Policy owners should anticipate renewal
interest rates at the Guaranteed Minimum Interest Rate regardless of future economic con
interest rates at the Guaranteed Minimum
Interest Rate regardless of future economic con
Interest Rate regardless of
future economic conditions.
What isimportant is the current cash surrender value of the
policy, available loan amount,
interest rate on said loan, type of policyyou own, and your
future plans to either pay back the loan or not.
In addition to low national appreciation of 1.5 percent for 2007 and plenty of inventory in markets around the country, the Fed has stopped raising
interest rates and appears to be holding to a neutral
policy for the near
future.
Rising
interest rates and expectations of
future changes in monetary
policy have at times impacted the share prices of stock exchange - listed equity REITs.
The Federal Reserve kept the key
interest rate unchanged this week as it looks to
future fiscal
policy under the new administration — a decision in line with its intent to raise
rates only gradually in 2017.