We see heightened investor focus on
major central bank policies.
Not exact matches
Combined with the loose - money
policies at all the
major central banks, high inflation is an increasing risk.
Central banks, finance ministries and
banking regulators in
major economies make a concerted effort to talk to each other to share information and coordinate
policies.
UBS Chairman Axel Weber speaks about sentiment in markets and monetary
policy from
major central banks.
Speaking in Montreal on Thursday,
central bank governor Stephen Poloz called household debt a
major risk to the Canadian economy, suggesting the fear of stoking more borrowing as one reason he has not been even more dovish on interest rate
policy.
In the currency markets, the differing messages of the world's
major central banks on inflation and monetary
policy prodded the dollar higher against the yen ahead of a series of appearances by U.S. Federal Reserve officials this week.
Those who worry that the increase in reserves caused by cash transfers to households will cause inflation or create
major central bank balance sheet problems down the road, no longer need to oppose this
policy.
I merely wish to record that from about the middle of 1999, markets around the world began to recognise that the accommodative stance of monetary
policy by
major central banks that had been so appropriate for 1998 and early 1999 was starting to look less appropriate as 1999 progressed and strengthened.
As we approach 2018,
policy activity across four
major central banks — the US Federal Reserve (Fed), European Central Bank, Bank of England and Bank of Japan — and a number of smaller players presents opportunities for discretionary macro managers, in ou
central banks — the US Federal Reserve (Fed), European
Central Bank, Bank of England and Bank of Japan — and a number of smaller players presents opportunities for discretionary macro managers, in ou
Central Bank,
Bank of England and
Bank of Japan — and a number of smaller players presents opportunities for discretionary macro managers, in our view.
As we enter into the summer months, divergent
policies among
major central banks seem likely to have a pronounced impact on investors» loss aversion instincts.
What Governor Rajan did say, in his remarks made off the attached written text, was that the
policies followed by
major central banks around the world were in danger of slipping into the kind of beggar - thy - neighbour strategies that were followed in the 1930s.
«Swap lines — along the lines provided by
major central banks early in the crisis — can help,» and the IMF stands «ready to provide
policy advice and financial support,» she said.
As a result, what is now considered a neutral
policy rate for a
central bank — one that neither stimulates nor restrains growth — has experienced a likely medium - term decline in the United States and other
major economies.
It is in fact the case that the amount of currency in circulation has not been affected by any of these
policies (such as quantitative easing by
major central banks).
As the next European
Central Bank (ECB) policy setting meeting approaches on January 22, we think the odds are high that the central bank will be the last major entrant into the quantitative easing (QE
Central Bank (ECB) policy setting meeting approaches on January 22, we think the odds are high that the central bank will be the last major entrant into the quantitative easing (QE) g
Bank (ECB)
policy setting meeting approaches on January 22, we think the odds are high that the
central bank will be the last major entrant into the quantitative easing (QE
central bank will be the last major entrant into the quantitative easing (QE) g
bank will be the last
major entrant into the quantitative easing (QE) game.
This event should not be overlooked as it is one of the most important
policy measures from a
major global
central bank in the last ten years.
While economic data out of
major EMs has certainly been disappointing lately, many EM
central banks continue to conduct monetary stimulus
policies geared at helping their economies grow.
Also, with talks about Serbia being included in the European Union, the dinar's exchange rate with other
major currencies will likely be affected by monetary
policies from the European
Central Bank.
The dollar's sell - off was also helped by investors betting on tighter monetary
policies by
major central banks, bringing them in line with the Federal Reserve.
And the BOJ is arguably the least likely
major central bank today to pause or reverse its accommodative
policies.
Third, in response to slower growth and lower inflation (owing partly to lower commodity prices), the world's
major central banks pursued another round of unconventional monetary easing: lower
policy rates, forward guidance, quantitative easing (QE), and credit easing.
«Finally, in circumstances where a
major central bank is continuing to expand its balance sheet or maintaining a large balance sheet over a sustained period, this
policy would likely exert downward pressure on term premiums around the globe, especially in those foreign economies whose bonds were perceived as close substitutes.
Forex markets can be very volatile, particularly emerging market currencies, but even the
major pairs can move dramatically on a
central bank policy change, a political event, or on significant economic news.
That said, for now at least,
central bank policies are still dominating markets, and the ongoing long - term trends could (US stock long, EUR long, USD short) might still have legs before the next
major shift.
But the roots are global as well and at least one of the roots is financial repression which is the
major central bank's
policies over the last nine years of recovery to drop interest rates to zero to buy risk assets, to push investors into risk assets and generate a lot of liquidity and credit.
From this standpoint, it is encouraging to see correlations returning to normal as
major central banks normalize monetary
policy — a natural part of the economic cycle.
This could present challenges for future equity market performance as
major central banks gradually move to normalize extraordinarily supportive
policy measures.
But we do not believe the ECB will contemplate a
major change in direction, since in the continued absence of a significant fiscal stimulus, the region's economic performance remains too weak for the
central bank to risk measures that could create, however inadvertently, a degree of tightening in monetary
policy.
Speculation about likely
major central bank monetary
policy decisions is reaching fever pitch ahead of pivotal meetings on both sides of the...
Against this background, we think that the divergences in the monetary
policies of the
major economies are likely to become more apparent, which could increase pressure on some
central banks and magnify market volatility.
Today, however, global economic growth is moderate, deflationary pressures persist and most
major central banks are explicitly easing
policy.
In particular, no
major central bank uses
policy rules in a prescriptive way, and it is hard to predict the consequences of requiring the FOMC to do so, as some have proposed.
Low Inflation Tests World's
Central Banks Inflation is slowing across the developed world despite ultralow interest rates and unprecedented money - printing campaigns, posing a dilemma for the Fed and other major central banks as they plot their next policy
Central Banks Inflation is slowing across the developed world despite ultralow interest rates and unprecedented money - printing campaigns, posing a dilemma for the Fed and other major central banks as they plot their next policy m
Banks Inflation is slowing across the developed world despite ultralow interest rates and unprecedented money - printing campaigns, posing a dilemma for the Fed and other
major central banks as they plot their next policy
central banks as they plot their next policy m
banks as they plot their next
policy moves.
Under sovereigns and quasi-sovereigns, we have the bonds issued by Chinese government bonds, the four
major policy banks in China, as well as the other global
central bank, like Korean Development B
bank, like Korean Development
BankBank.
Today, however, global economic growth is moderate, deflationary pressures persist and most
major central banks are explicitly easing
policy.
As the US Federal Reserve is the only
major central bank leading the departure from ultra-low rate
policy, rising yield differential (in favour of US versus others) can see a re-strengthening of the US Dollar in the short term.
And the BOJ is arguably the least likely
major central bank today to pause or reverse its accommodative
policies.
But with the Fed's intention to keep its zero - interest rate
policy in place until at least mid-2015 and other
major central banks, including the European Central Bank, flooding their economies with liquidity, that all might
central banks, including the European
Central Bank, flooding their economies with liquidity, that all might
Central Bank, flooding their economies with liquidity, that all might change.
Bond yields across
major fixed income markets are at historically low levels, with some of the
central banks in developed countries even going as far as adopting a negative rates
policy.
My view is that the next
major blow - up will happen as a result of a neophyte developing large country
central bank overshooting on their tightening of monetary
policy.
At this point in the cycle, the FOMC is ahead of almost all
major central banks in loosening
policy.
Ideas of better world economic growth prospects and
major central banks tightening their monetary
policies in the near futures have helped to sink the U.S. Treasury markets.
Central bank policy has turned a
major corner, and many fixed income markets are looking increasingly expensive - six experts share their insights on how pension scheme strategies should adapt.
New technologies like blockchain represent a
major policy challenge, according to the head of Ireland's
central bank.
Likewise, volume has declined at
major Chinese exchanges Huobi, OKCoin and BTCC, all exchanges whose
policies have been affected by directives from that country's
central bank.
Discontent with
policies of
central banks and the search for alternative currencies are
major drivers of interest in bitcoin (37 %).