Author: Eamonn Sheridan

Reserve Bank of Australia Assistant Governor (Financial Markets) Christopher Kent

  • Fall in the unemployment rate will be only gradual
  • Next move in interest rates likely to be up, but no rush
Those from the Q&A  

Next move in interest rates ..... IMO is likely to be a long time coming FWIW.
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Earlier
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Coming up from Australia today:
Due at 0130GMT

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Author: Eamonn Sheridan

RBA's Kent says the impact from interest only loan expiries likely to be moderate

Christopher Kent, Reserve Bank of Australia Assistant Governor (Financial Markets) speaking on T he Limits of Interest-only Lending - says around A$480 bln interest only loans to expire by 2021 In the search for things to worry about the big lump in interest only housing loans due to expire has reached consciousness, garnering some news and articles etc. The concern is that as lenders switch to principal and interest loans (from interest only) repayments go up  and weigh on household consumption. Also that there will be those on interest only loans that will find difficulty making payments (or even being approved for) principal and interest loans.

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RBA's Kent says the impact from interest only loan expiries likely to be moderate


Author: Eamonn Sheridan
Category: Central Banks
0


Christopher Kent, Reserve Bank of Australia Assistant Governor (Financial Markets) speaking on T he Limits of Interest-only Lending - says around A$480 bln interest only loans to expire by 2021 In the search for things to worry about the big lump in interest only housing loans due to expire has reached consciousness, garnering some news and articles etc. The concern is that as lenders switch to principal and interest loans (from interest only) repayments go up  and weigh on household consumption. Also that there will be those on interest only loans that will find difficulty making payments (or even being approved for) principal and interest loans.

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EUR/USD falls below Friday's low, what's next?
Asset 41

Author: Eamonn Sheridan

BoC - Poloz and Wilkins are still going .... moar

Bank of Canada Governor Poloz and Senior Deputy Governor Wilkins are testifying before a House Committee Earlier: And, more now: - Still indication of slack in economy in some areas (ps. Poloz spoke about inflation above 2% and how is not worried over the weekend: )

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BoC - Poloz and Wilkins are still going .... moar


Author: Eamonn Sheridan
Category: Central Banks
0
Bank of Canada Governor Poloz and Senior Deputy Governor Wilkins are testifying before a House Committee Earlier: And, more now: - Still indication of slack in economy in some areas (ps. Poloz spoke about inflation above 2% and how is not worried over the weekend: )

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Author: Eamonn Sheridan

More from BoC Gov Poloz: Stats on job vacancies a symptom of strong labour market

Bank of Canada Governor Poloz and Senior Deputy Governor Wilkins are testifyining before a House Committee Greg had earlier comments here: More following now:

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More from BoC Gov Poloz: Stats on job vacancies a symptom of strong labour market


Author: Eamonn Sheridan
Category: Central Banks
0
Bank of Canada Governor Poloz and Senior Deputy Governor Wilkins are testifyining before a House Committee Greg had earlier comments here: More following now:

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Author: Greg Michalowski

Headlines from Q&A of BOC Gov. Poloz and Sen. Deputy Gov. Wilkins

Testimony  - Economy is about 50% more sensitive to interest rates - We believe investment in oil sector will remain flat - drop in housing from pull-forward effect to reverse

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Headlines from Q&A of BOC Gov. Poloz and Sen. Deputy Gov. Wilkins


Author: Greg Michalowski
Category: Central Banks
0
Testimony  - Economy is about 50% more sensitive to interest rates - We believe investment in oil sector will remain flat - drop in housing from pull-forward effect to reverse

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Author: Greg Michalowski

BOC Poloz: Inflation is on target. BOC will remain cautious on rates.

Prepared remarks as he begins testifying at House Committee Headlines from the Poloz testimony:  USDJPY trading at 1.2843 at start of testimony Below is the link to the opening statement before the House of Commons standing committee on finance:  

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BOC Poloz: Inflation is on target. BOC will remain cautious on rates.


Author: Greg Michalowski
Category: Central Banks
0
Prepared remarks as he begins testifying at House Committee Headlines from the Poloz testimony:  USDJPY trading at 1.2843 at start of testimony Below is the link to the opening statement before the House of Commons standing committee on finance:  

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Author: Adam Button

BOJ's Kuroda: Excessive rate hikes are a risk to global economy

More Kuroda on CNBC - Trade is the biggest risk right now - The is no predetermined kind of economic cycle - Naturally the recovery pace from a crisis is slower CNBC is showing the interview in parts. More will come later.

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BOJ's Kuroda: Excessive rate hikes are a risk to global economy


Author: Adam Button
Category: Central Banks
0
More Kuroda on CNBC - Trade is the biggest risk right now - The is no predetermined kind of economic cycle - Naturally the recovery pace from a crisis is slower CNBC is showing the interview in parts. More will come later.

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Author: Adam Button
1

BOJ's Kuroda: Risks are tilted to the downside on inflation

Kuroda comments on CNBC - We're still a long ways from 2% inflation - Accommodative policy must continue USD/JPY is at the highs of the day, up 70 pips to 108.43.

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BOJ's Kuroda: Risks are tilted to the downside on inflation


Author: Adam Button
Category: Central Banks
1
Kuroda comments on CNBC - We're still a long ways from 2% inflation - Accommodative policy must continue USD/JPY is at the highs of the day, up 70 pips to 108.43.

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Author: Adam Button
8

BOJ's Kuroda: I don't understand why Japanese yen is seen as a safe haven

Kuroda speaking on CNBC The comment was from a teaser for an interview on CNBC that will be broadcast shortly.

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BOJ's Kuroda: I don't understand why Japanese yen is seen as a safe haven


Author: Adam Button
Category: Central Banks
8
Kuroda speaking on CNBC The comment was from a teaser for an interview on CNBC that will be broadcast shortly.

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Author: Justin Low
4

Bundesbank report: German boom to continue despite weaker Q1 growth

Germany's central bank releases its monthly report Still ever the optimist it seems. You have to wonder how much more of a slowing down in economic data will only start to change their view.

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Bundesbank report: German boom to continue despite weaker Q1 growth


Author: Justin Low
Category: Central Banks
4
Germany's central bank releases its monthly report Still ever the optimist it seems. You have to wonder how much more of a slowing down in economic data will only start to change their view.

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Author: Justin Low

Fed's Williams: Too early to say if there is a serious risk of trade war

San Fransisco Fed head John Williams spoke to El Pais newspaper On Friday, he that he sees continued rate increases by the Fed and in an interview with Spain's ABC newspaper he also mentioned that it makes sense for the Fed to keep raising rates.

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Fed's Williams: Too early to say if there is a serious risk of trade war


Author: Justin Low
Category: Central Banks
0
San Fransisco Fed head John Williams spoke to El Pais newspaper On Friday, he that he sees continued rate increases by the Fed and in an interview with Spain's ABC newspaper he also mentioned that it makes sense for the Fed to keep raising rates.

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Author: Eamonn Sheridan

Japan press: Bank of Japan shows signs of

This via Nikkei over the weekend, on the bojjBank of Japan ETF buys  Article is here for more

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Japan press: Bank of Japan shows signs of


Author: Eamonn Sheridan
Category: Central Banks
0
This via Nikkei over the weekend, on the bojjBank of Japan ETF buys  Article is here for more

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Author: Eamonn Sheridan
1

More on the MXN intervention story from earlier

Headline comments from Banco de México (Banxico) Governor Alejandro Diaz de Leon earlier are here: - Mexican central bank head says MXN sell-off does not warrant intervention More detail following now via Bloomberg:

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More on the MXN intervention story from earlier


Author: Eamonn Sheridan
Category: Central Banks
1
Headline comments from Banco de México (Banxico) Governor Alejandro Diaz de Leon earlier are here: - Mexican central bank head says MXN sell-off does not warrant intervention More detail following now via Bloomberg:

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Author: Eamonn Sheridan
1

Heads up for CAD traders - BoC Gov. Poloz speaking Monday

Coming up at 1930GMT on Monday 23 April 2018, Bank of Canada Governor Poloz along with deputy Wilkins testify - At the House Standing committee on Finance On the weekend Poloz had a chat with journalists while in Washington:

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Heads up for CAD traders - BoC Gov. Poloz speaking Monday


Author: Eamonn Sheridan
Category: Central Banks
1
Coming up at 1930GMT on Monday 23 April 2018, Bank of Canada Governor Poloz along with deputy Wilkins testify - At the House Standing committee on Finance On the weekend Poloz had a chat with journalists while in Washington:

Asset 24 View More

Author: Eamonn Sheridan

Survey of UK households show expectations for a BoE May rate hike falling

ArticleBody This is the  IHS Markit Household Finance Index, report rtrsReuters :: - 28 percent of Britons expected the BoE to raise rates over the next three months, down from 33 percent in March 

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Survey of UK households show expectations for a BoE May rate hike falling


Author: Eamonn Sheridan
Category: Central Banks
0
ArticleBody This is the  IHS Markit Household Finance Index, report rtrsReuters :: - 28 percent of Britons expected the BoE to raise rates over the next three months, down from 33 percent in March 

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Author: Eamonn Sheridan

PBOC sets USD/ CNY reference rate for today at 6.3034 (vs. Friday at 6.2897)

CNY set a little weaker against the USD today by the People's Bank of China  - PBOC inject 80bn yuan through 7-day reverse repos in open market operations (OMOs) today

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PBOC sets USD/ CNY reference rate for today at 6.3034 (vs. Friday at 6.2897)


Author: Eamonn Sheridan
Category: Central Banks
0
CNY set a little weaker against the USD today by the People's Bank of China  - PBOC inject 80bn yuan through 7-day reverse repos in open market operations (OMOs) today

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Author: Eamonn Sheridan
1

Weekend comments from BOJ's Kuroda on continuing with accommodative policy

Bank of Japan Governor Haruhiko Kuroda gave an interview to CNBC over the weekend And, there you go - no surprises from Kuroda .... there rarely is , and more up if you are interested

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Weekend comments from BOJ's Kuroda on continuing with accommodative policy


Author: Eamonn Sheridan
Category: Central Banks
1
Bank of Japan Governor Haruhiko Kuroda gave an interview to CNBC over the weekend And, there you go - no surprises from Kuroda .... there rarely is , and more up if you are interested

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Author: Eamonn Sheridan
1

Weekend CAD comments - BOC Gov Poloz says not worried about above target inflation

Bank of Canada Governor Stephen Poloz speaking on Saturday in Washington to reporters Said BoC has a 1 to 3% range for inflation and does not mechanically raise interest rates when inflation goes above 2% target

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Weekend CAD comments - BOC Gov Poloz says not worried about above target inflation


Author: Eamonn Sheridan
Category: Central Banks
1
Bank of Canada Governor Stephen Poloz speaking on Saturday in Washington to reporters Said BoC has a 1 to 3% range for inflation and does not mechanically raise interest rates when inflation goes above 2% target

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Author: Eamonn Sheridan

ECB's Villeroy on trade protectionism - biggest risk ahead in medium term

François Villeroy de Galhau is Governor of the Banque de France Speaking with local media (Le Figaro newspaper) Says trade protectionism is a big risk in medium term

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ECB's Villeroy on trade protectionism - biggest risk ahead in medium term


Author: Eamonn Sheridan
Category: Central Banks
0
François Villeroy de Galhau is Governor of the Banque de France Speaking with local media (Le Figaro newspaper) Says trade protectionism is a big risk in medium term

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Author: Eamonn Sheridan

Mexican central bank head says MXN sell-off does not warrant intervention

Banco de México (Banxico) Governor Alejandro Diaz de Leon speaking at the IMF in an interview. Diaz de Leon has been in the role since December of 2017 Yeah, not looking like intervention needed:

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Mexican central bank head says MXN sell-off does not warrant intervention


Author: Eamonn Sheridan
Category: Central Banks
0
Banco de México (Banxico) Governor Alejandro Diaz de Leon speaking at the IMF in an interview. Diaz de Leon has been in the role since December of 2017 Yeah, not looking like intervention needed:

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Author: Adam Button
1

Fed's Kashkari: I'm more concerned about the flattening of the yield curve

Kashkari on CNBC - The flat yield curve shows us that we're close to the neutral rate - Inflation and wages are slowly climbing, they're not accelerating - We should be at neutral, but where is neutral? This is all stuff we've heard before from Kashkari. Give him and Bullard credit for making everyone talk about the yield curve.

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Fed's Kashkari: I'm more concerned about the flattening of the yield curve


Author: Adam Button
Category: Central Banks
1
Kashkari on CNBC - The flat yield curve shows us that we're close to the neutral rate - Inflation and wages are slowly climbing, they're not accelerating - We should be at neutral, but where is neutral? This is all stuff we've heard before from Kashkari. Give him and Bullard credit for making everyone talk about the yield curve.

Asset 24 View More

Author: Adam Button
13

Fed's Brainard: Outlook is consistent with gradual hikes

Brainard comments on CNBC - Economic outlook is quite solid - Inflation moving towards target is encouraging - US job market continues to tighten - There are risks on the horizon, we need to be on guard There's one little caveat on growth but she's largely upbeat. The US dollar hasn't really reacted but if anything, this is another sign that a hike in June is coming and more are expected later.

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Fed's Brainard: Outlook is consistent with gradual hikes


Author: Adam Button
Category: Central Banks
13
Brainard comments on CNBC - Economic outlook is quite solid - Inflation moving towards target is encouraging - US job market continues to tighten - There are risks on the horizon, we need to be on guard There's one little caveat on growth but she's largely upbeat. The US dollar hasn't really reacted but if anything, this is another sign that a hike in June is coming and more are expected later.

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Author: Adam Button
1

Fed's Williams says he sees continued rate increases

Williams sure is talking a lot lately - In the context of strong labor market, wage growth and stable inflation he sees continued rate increases - Expects new normal for the Fed's balance sheet to be around $3 trillion Williams is the second Fed member within an hour to talk about higher deficits and debt steepening the yield curve. Should someone tell them that Japan has enormous deficits and debt?

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Fed's Williams says he sees continued rate increases


Author: Adam Button
Category: Central Banks
1
Williams sure is talking a lot lately - In the context of strong labor market, wage growth and stable inflation he sees continued rate increases - Expects new normal for the Fed's balance sheet to be around $3 trillion Williams is the second Fed member within an hour to talk about higher deficits and debt steepening the yield curve. Should someone tell them that Japan has enormous deficits and debt?

Asset 24 View More

Author: Adam Button
1

Fed's Evans: Yield curve less of a concern than a couple months ago

Evans speaks with reporters - If inflation rises faster than expected, it's a sign of a stronger economy that can withstand more hikes - Says he will be reviewing his estimate of the neutral rate We hear so often from Evans that he's rarely a market mover but he's a good guy to listen to and get a sense of what the Fed's thinking about. I'm not so sure that hoping deficits will steepen the yield curve is a very good strategy.

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Fed's Evans: Yield curve less of a concern than a couple months ago


Author: Adam Button
Category: Central Banks
1
Evans speaks with reporters - If inflation rises faster than expected, it's a sign of a stronger economy that can withstand more hikes - Says he will be reviewing his estimate of the neutral rate We hear so often from Evans that he's rarely a market mover but he's a good guy to listen to and get a sense of what the Fed's thinking about. I'm not so sure that hoping deficits will steepen the yield curve is a very good strategy.

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Author: Adam Button
4

ECB's Draghi: Confidence in the inflation outlook has increased

Draghi out with some comments in an IMFC statement - Growth momentum is expected to continue - Ample degree of monetary stimulus remains needed - Patience, persistence and prudence needed There's a bit of everything here but it reads dovish to me.

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ECB's Draghi: Confidence in the inflation outlook has increased


Author: Adam Button
Category: Central Banks
4
Draghi out with some comments in an IMFC statement - Growth momentum is expected to continue - Ample degree of monetary stimulus remains needed - Patience, persistence and prudence needed There's a bit of everything here but it reads dovish to me.

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