Author: Greg Michalowski
1

Speaking in Oklahoma city

  • Seeing stronger business activity, investment
  • Stable oil prices spurring drilling, mining activity
  • Fed B/Sheet plan very well telegraphed up to this point
  • Balance sheet adjustment didn't cause strong market reaction
  • She supports FOMC approach to balance sheet rolloff
  • Balance sheet tool should be kept for emergencies only
  • Gradual interest rate moves appropriate, but said needs to keep rate rises underway
  • Regulatoins on smaller banks beginning to impact ability to lend and serve customers

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Author: Mike Paterson

US Fed's Williams says he supports a gradual rise in interest rates

US San Francisco Fed head Williams with a scheduled speech 22 Sept - Fed funds rate of around 2.5% the new normal, will be a primary tool in future - we have been as close as we have ever been in my career re inflation and employment goals That's the key to these intended hikes both in the UK and EU imho. Create some wiggle room to cut when the proverbial hits the fan in future.

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Author: Mike Paterson
8

More from Draghi: ECB not there yet on inflation

Draghi is attending the ECB Youth Dialogue in Dublin 22 Sept - financial system much more resilient thanks to reforms - we see some local bubbles, not systemic EURUSD still underpinned at 1.1990 but off 1.2003 session highs as option interest plays out.

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Author: Mike Paterson
2

SNB's Moser says ending LIBOR will not affect monetary policy

SNB deputy governing board member Moser out on the wires 22 Sept - LIBOR ( London Interbank Offered Rate) benchmark now in serious jeopardy but moving away from it will not affect SNB's ability to carry out mon pol Eh ? I thought it was "market participants" that abused LIBOR in a number of countries and created the need for re-assessment. Talk about putting drunks in charge of a brewery.

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Author: Adam Button

South Africa leaves rates unchanged at 6.75%

South African holds rates unchanged - Remains concerned that inflation expectations close to 6% for the next two years - Vote was 3 to cut, 3 to leave rates unchanged ZAR pared some of its losses after the announcement.

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Author: Mike Paterson

Norway's central bank leaves key interest rate unchanged at 0.50%

Norway's central bank out with latest policy decisions/comments 21 Sept - decision unanimous - continued need for expansionary policy - capacity utilization is below normal level NOK making gains on the announcement. USDNOK down to 7.8260

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Author: Mike Paterson

More from Kuroda (2): Deflationary mindset remains strong in Japanese firms/households

BOJ governor still up to the mic 21 Sept - govt, parliament must decide fiscal policy, like sales tax - not going to comment on govt's fiscal goals - possible that worries about fiscal discipline could hurt trust in bond market and lead to yield rise Still loads of hot air and useless fwd guidance from all three.

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Author: Eamonn Sheridan
7

BOJ announce no change in policy, as expected

Bank of Japan September 2017 meeting Headlines via Reuters More: So, one dissenter and he wants MOAR action, YCC is not enough. It's a battle at the BOJ Board to more dovish than the next guy! USD/JPY doing pretty much nothing. It surged overnight on the FOMC and now does zilcho on the BOJ.

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