«We were hoping for, at least temporarily, some type of specific effort on
the part of the central banks,» Gross told host Betty Liu.
I fear that
parts of the central bank community have become blinded by the science and the technique, and that there has been excess allocation of intellectual resources to this pursuit (which perhaps could have better been focused on financial stability issues).
The picture is a little hazier regarding the other
part of the central bank's mandate.
This is
part of a central bank approach to target liquidity as well as making overall reductions in interest rates.
This event, together with the global nature of cryptocurrencies with 24/7 trading access, will make it intuitive to own cryptocurrencies as they become a de-facto investment as
part of a central banks investment tranche.
Some users believe the new fiat cryptocurrency to be a direct attack on the principles of bitcoin and an attempt on
the part of central banks to control digital systems.
Not exact matches
Such a shift would bring the
central bank a step closer to making the purchase
of longer - dated bonds a
central part of policy and partly echoes Japan's five - year quantitative easing campaign that lasted until 2006, under which it aggressively pumped cash into the economy.
It's
part of a concerted effort by agencies including the
central bank, the cyberspace administration and China's Ministry
of Industry and Information Technology.
Being eligible to be
part of the European
Central Bank's QE program would «help the momentum that we have,» the minister said, referring to the recent data showing that Greece returned to economic growth in 2016.
This is
part of the long - running worry that the new monetary policy activism inspired by the financial crisis threatens
central banks» political independence.
It felt free to issue such an advisory, the
central bank said, in
part because it was less worried about those record levels
of consumer debt and the housing market, both
of which economists have said appear to be moderating.
And the success
of this process will depend in
part on the ability
of central banks to conduct monetary policy in a manner consistent with achieving low inflation.
As for the British example at the end
of the 19th Century, in those days currency was
part of reserve accumulation, but much if not most reserves were in the form
of gold or silver, and while Britain had the most important reserve currency, the difference between
central bank holdings
of sterling and
central bank holdings
of other gold - based currencies, like the franc, were pretty small relative to total trade.
Rieder said money is flowing to stocks in
part because there's not enough fixed income supply in the world, a function
of central banks buying bonds and crowding out private investment.
Many bonds trade at negative yields because the European
Central Bank (ECB) and the
Bank of Japan (BOJ) continue to buy bonds as
part of their management
of monetary policy.
We see potential for quasi-fiscal operations, such as broader credit easing by
central banks or sovereign guarantees on infrastructure projects, as
part of the solution.
We get into some fixed income wonkery — Liquidity, supply, safety, demand,
central bank purchases, and the dearth
of high quality assets all are
part of our conversation.
The 2016 BIS Triennial
Central Bank Survey
of Foreign Exchange and OTC Derivatives Markets Activity was undertaken in two
parts: the turnover portion measured activity in FX and OTC single - currency interest rate derivatives markets in the month
of April, while the outstandings portion — not yet available — measured the amount
of OTC derivatives outstanding as at the end
of June.
In
part this reflects the starting point
of many
central banks that adopted inflation targeting: they generally had a poor inflation history and low credibility with the public and financial markets.
Asked about Greece — a special case because
of the political uncertainties there and because the country continues to labor under an international bailout program overseen in
part by the European
Central Bank — Mr. Draghi said that the bank could buy Greek bo
Bank — Mr. Draghi said that the
bank could buy Greek bo
bank could buy Greek bonds.
In another unprecedented step for the eurozone, the
central bank will begin buying corporate bonds as
part of the monthly asset purchases.
An additional problem with coordinating fiscal and monetary policy is that freedom from electoral and political pressures is
part of the case for having independent
central banks in the first place.
... The zero - interest - rate and bond - buying
central bank policies prevailing in the U.S., Europe, and Japan have been
part of a coordinated effort that has plastered over potential financial instability in the largest countries and in private
banks.
The Brexit vote impact is so important to the U.S. that it's
part of the reason the Federal Reserve, our country's
central bank, decided not to raise interest rates recently.
In other words, George and Jill Guzzardo surrendered over a million dollars, not because
of any egregious actions on their
part, but rather because the Financial Matrix's boom / bust cycle, manufactured through the fraudulent Fractional Reserve
Banking (FRB) and
Central Banking Fiat money system was at work.
The
central bank says it held off this time in
part because it expects the recent strength
of the Canadian dollar to slow the rise in the pace
of inflation.
Part of the attraction
of bitcoin is that it's not a fiat currency: It can't be inflated or «manipulated» by
central banks; it's like gold in its limited, exogenous supply and its deflationary effects.
Before the end
of April, when the market started its gut - wrenching descent, «the combination
of return generation and risk diversification was
part of a broader virtuous circle for fixed income, which also included significant inflows to the asset class and direct support from
central banks,» El - Erian writes at the start
of his viewpoint, noting that in addition to delivering solid returns with lower volatility relative to stocks, the inclusion
of fixed income in diversified asset allocations also helped to reduce overall portfolio risk.
As
part of the study, staff from the
central banks and / or government debt offices
of all
of the G - 10 countries participated in a survey on the structure
of government securities markets.
We think greater global
central bank - generated liquidity will be a positive for the corporate credit sectors and economically driven
parts of the market, at least in the near - to - medium term.
The Bundesbank, the most hawkish
of central banks, has signalled it would accept higher inflation in Germany as
part of an economic rebalancing in the eurozone that would boost the international competitiveness
of countries worst - hit by the region's debt crisis.
weaves personal experience and a career that spanned the good
part of 60 years — 18
of those at the helm
of the US
central bank — into economic analysis.
FRANKFURT — The European
Central Bank is widely expected to announce on Thursday that it will finally begin buying government bonds as
part of a so - called quantitative easing program.
Another
part of the answer is that securitisation has been at the centre
of the turbulence in credit markets, the effects
of which have been very evident in the dislocation in short - term money markets where
central banks conduct their domestic market operations.
The IMF for its
part vetoed cutbacks in Greek military spending (far above the 2 %
of GDP demanded by NATO), despite even the European
Central Bank (ECB) and German Chancellor Merkel agreeing to this.
As had been widely expected, at the ECB's meeting in late October, policymakers outlined their plans to reduce the monthly bond purchases carried out by the
central bank as
part of its QE program.
Noting that monetary policy works in
part by altering financial prices and asset values, and thus by affecting risk - taking and borrowing and saving decisions, it questions the notion that the monetary policy and financial stability goals
of central banks can be neatly separated.
Central bank rate setting and bond buying is only
part of the picture.
Now, however, the reverse is occurring. Because
of a narrow, perverse political calculation, Conservatives have decided that it is to their advantage for Canadians to be as worried about the economy as possible. And so they are actively playing up the risks. The call to Poloz was
part of that strategy:  Things must be bad. Why, the Prime Minister even had to call the
central bank governor!
On the other hand, if leverage is already high, perhaps as a result
of an earlier run - up, and if the weakness
of demand is in
part a result
of the private sector being cautious about further extensions
of leverage, or even attempting to reduce its leverage, the
central bank may face an unenviable set
of choices.
-- Wednesday, Federal Reserve chair Janet Yellen, European
Central Bank president Mario Draghi, and
Bank of England governor Mark Carney take
part in a panel discussion at an ECB forum in Portugal; Wall Street will also pay attention to May pending home sales, May personal spending figures, and earnings news from General Mills, Monsanto, and Pier 1.
Central banks are right in saying that their monetary policy
of lowering rates is having limited effect and so governments must do their
part.
She didn't talk about the effects from other
central banks and I think that's a huge
part of the flattening that is going on.
I have already made the point that one
part of the instrument set — the management
of financial system liquidity, or the last resort lending function — is inherently a function
of the
central bank.
They're taking advantage
of low interest rates on euro - denominated issues after the European
Central Bank's decision to start buying investment - grade corporate bonds in June —
part of its economic stimulus program.
A major factor that resulted in the American Revolution, and the subsequent independence from England, was that the American Colonists did not want any
part of England's
central banking system.
The whole discussion that we should have on here is on de-dollarization, but the conflict that's going on right now and
part of the answer out
of that is what's going to happen to cryptocurrencies because it's a way
of getting around the controls that the
central banks really have on the creation
of money, the value
of that money and the debasements
of those currencies.
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.
The European
Central Bank (ECB) has cleaned up their mess, enabling and their wealth to grow on its trajectory as before — at the price
of impoverishing the non-financial
parts of society.
An additional factor which has, at the margin, increased the demand for Australian - dollar assets is demand from other
central banks to hold Australian dollars as
part of their international reserves.