GMTAuthor: Justin Low

Further comments by ECB governing council member Francois Villeroy de Galhau


  • Rate increases would be extremely gradual
ForexLive
There's a growing belief in the market that the ECB has missed the boat when it comes to normalising monetary policy. And with economic growth conditions in Q4 likely to persist into this year, it certainly suggests that the naysayers have it right on this one.

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Wed 16 Jan 2019 09:21:40 GMT

BOE's Carney says market view of Brexit vote most clearly expressed in FX market

BOE governor Mark Carney begins testifying before the Treasury select committee on the financial stability report - GBP rebound shows prospects of a no-deal has diminished ForexLive

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BOE's Carney says market view of Brexit vote most clearly expressed in FX market


//az705044.vo.msecnd.net/20190116/boe-carney.png Justin Low
Wed 16 Jan 2019 09:21:40 GMT
Author: Justin Low
Category: Central Banks
0


BOE governor Mark Carney begins testifying before the Treasury select committee on the financial stability report - GBP rebound shows prospects of a no-deal has diminished ForexLive

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US House considers subpoena for Trump's interpreter in Putin meeting
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Wed 16 Jan 2019 09:15:39 GMT

ECB's Villeroy: Eurozone growth is slowing but region is not in a downturn

Comments by ECB governing council member Francois Villeroy de Galhau - Economic outlook surrounded by uncertainty - US protectionism weighs on global confidence ForexLive

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ECB's Villeroy: Eurozone growth is slowing but region is not in a downturn


Justin Low
Wed 16 Jan 2019 09:15:39 GMT
Author: Justin Low
Category: Central Banks
0
Comments by ECB governing council member Francois Villeroy de Galhau - Economic outlook surrounded by uncertainty - US protectionism weighs on global confidence ForexLive

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Wed 16 Jan 2019 09:07:58 GMT

ECB's Nowotny: In no way do we see a danger of recession in the Eurozone

Further comments by ECB governing council member Ewald Nowotny - Extremely important we get a clear solution on Brexit as soon as possible - Brexit may have a 'psychological impact' on the Eurozone economy ForexLive

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ECB's Nowotny: In no way do we see a danger of recession in the Eurozone


Justin Low
Wed 16 Jan 2019 09:07:58 GMT
Author: Justin Low
Category: Central Banks
0
Further comments by ECB governing council member Ewald Nowotny - Extremely important we get a clear solution on Brexit as soon as possible - Brexit may have a 'psychological impact' on the Eurozone economy ForexLive

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Wed 16 Jan 2019 08:46:09 GMT

ECB's Nowotny: Sees continued expansion but at a slower pace in Europe

ECB governing council member Ewald Nowotny speaks in Vienna - Says 2018 inflation level fulfills price stability goal - Eurozone core inflation is stable, but low ForexLive

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ECB's Nowotny: Sees continued expansion but at a slower pace in Europe


Justin Low
Wed 16 Jan 2019 08:46:09 GMT
Author: Justin Low
Category: Central Banks
0
ECB governing council member Ewald Nowotny speaks in Vienna - Says 2018 inflation level fulfills price stability goal - Eurozone core inflation is stable, but low ForexLive

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Wed 16 Jan 2019 07:01:38 GMT

ECB's Mersch says that Eurozone slowdown broadly in line with expectations

Comments by ECB governing council member Yves Mersch - Economic fundamentals remain unchanged - Slowdown was already expected, no need to consider again in policy response ForexLive

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ECB's Mersch says that Eurozone slowdown broadly in line with expectations


//az705044.vo.msecnd.net/20151014/yves-mersch.png Justin Low
Wed 16 Jan 2019 07:01:38 GMT
Author: Justin Low
Category: Central Banks
0
Comments by ECB governing council member Yves Mersch - Economic fundamentals remain unchanged - Slowdown was already expected, no need to consider again in policy response ForexLive

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Wed 16 Jan 2019 04:04:39 GMT

Reports circulating that BOJ is about to cut is inflation outlook

At the upcoming monetary policy meeting on January 23  (the meeting is Jan 22 and 23, the policy statement will come on the 23rd, and will be accompanied by the latest BOJ outlook report with forecasts) 

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Reports circulating that BOJ is about to cut is inflation outlook


Eamonn Sheridan
Wed 16 Jan 2019 04:04:39 GMT
Category: Central Banks
0
At the upcoming monetary policy meeting on January 23  (the meeting is Jan 22 and 23, the policy statement will come on the 23rd, and will be accompanied by the latest BOJ outlook report with forecasts) 

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Wed 16 Jan 2019 04:02:05 GMT

PIMCO on the UK, Brexit and the Bank of England

This from the latest PIMCo outlook for the UK -- Avoiding a chaotic no-deal Brexit is becoming a more popular take, as is the next step being a likely delay to the dropdead date of March 29, can to be kicked into July (disclosure I am ALWAYS long can kicks) 

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PIMCO on the UK, Brexit and the Bank of England


Eamonn Sheridan
Wed 16 Jan 2019 04:02:05 GMT
Category: Central Banks
0
This from the latest PIMCo outlook for the UK -- Avoiding a chaotic no-deal Brexit is becoming a more popular take, as is the next step being a likely delay to the dropdead date of March 29, can to be kicked into July (disclosure I am ALWAYS long can kicks) 

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Wed 16 Jan 2019 03:44:56 GMT

Due from the US today is the Fed Beige Book

Despite the government shut down the Federal Reserve will be releasing the January Beige book Wednesday 16 January 2019   The Beige Book reports on various local economic conditions and will be an input to the upcoming Federal Open Market Committee meeting (on January 31).

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Due from the US today is the Fed Beige Book


Eamonn Sheridan
Wed 16 Jan 2019 03:44:56 GMT
Category: Central Banks
0
Despite the government shut down the Federal Reserve will be releasing the January Beige book Wednesday 16 January 2019   The Beige Book reports on various local economic conditions and will be an input to the upcoming Federal Open Market Committee meeting (on January 31).

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Wed 16 Jan 2019 01:27:04 GMT

PBOC giving us an early heads up for the Lunar New Year holidays coming

A hefty injection of funds into the banking system in China this morning from the People's Bank of China : The 28 day operation is the first step in likely more to come for liquidity over the Lunar new year holiday. This year China is on holiday from February 4 to 10 (inclusive) . There is a stronger than normal demand for cash over the holiday period.  

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PBOC giving us an early heads up for the Lunar New Year holidays coming


Eamonn Sheridan
Wed 16 Jan 2019 01:27:04 GMT
Category: Central Banks
0
A hefty injection of funds into the banking system in China this morning from the People's Bank of China : The 28 day operation is the first step in likely more to come for liquidity over the Lunar new year holiday. This year China is on holiday from February 4 to 10 (inclusive) . There is a stronger than normal demand for cash over the holiday period.  

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Tue 15 Jan 2019 19:38:13 GMT

More Kaplan: He'd be open to balance sheet adjustments if appropriate

Speaks to reporters after speech in Plano, Texas - there is no textbook on Fed balance sheet rundown, must be open to learning and ready to make adjustments if there is a problem ForexLive

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More Kaplan: He'd be open to balance sheet adjustments if appropriate


Greg Michalowski
Tue 15 Jan 2019 19:38:13 GMT
Category: Central Banks
0
Speaks to reporters after speech in Plano, Texas - there is no textbook on Fed balance sheet rundown, must be open to learning and ready to make adjustments if there is a problem ForexLive

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Tue 15 Jan 2019 18:15:35 GMT

Fed's George: It might be a good time to pause on hikes

Even the hawks throwing in the towel - Should proceed with caution, be patient on rate hikes - Rates are not yet at neutral, but close - Pause would give time to assess effect of rate hikes so far George is one of the most-hawkish FOMC members and possibly most hawkish. She's giving up on hikes here and signaling a pause. This is a notable shift and sign that no hikes are coming any time soon.

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Fed's George: It might be a good time to pause on hikes


Adam Button
Tue 15 Jan 2019 18:15:35 GMT
Author: Adam Button
Category: Central Banks
0
Even the hawks throwing in the towel - Should proceed with caution, be patient on rate hikes - Rates are not yet at neutral, but close - Pause would give time to assess effect of rate hikes so far George is one of the most-hawkish FOMC members and possibly most hawkish. She's giving up on hikes here and signaling a pause. This is a notable shift and sign that no hikes are coming any time soon.

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Tue 15 Jan 2019 16:43:58 GMT

1

Fed's Kashkari: No need to tap the brakes on economy as long as inflation low

Kashkari answering questions in a moderate forum ForexLive

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Fed's Kashkari: No need to tap the brakes on economy as long as inflation low


Adam Button
Tue 15 Jan 2019 16:43:58 GMT
Author: Adam Button
Category: Central Banks
1
Kashkari answering questions in a moderate forum ForexLive

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Tue 15 Jan 2019 16:03:07 GMT

ECB's Draghi: Recent developments have been weaker than expected

Comments from Draghi in European Parliament He's said most of this before. it's inarguable that the numbers have been bad. There's no way the ECB is hiking rates in the next 9 months and any hike in 2019 is unlikely.

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ECB's Draghi: Recent developments have been weaker than expected


Adam Button
Tue 15 Jan 2019 16:03:07 GMT
Author: Adam Button
Category: Central Banks
0
Comments from Draghi in European Parliament He's said most of this before. it's inarguable that the numbers have been bad. There's no way the ECB is hiking rates in the next 9 months and any hike in 2019 is unlikely.

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Tue 15 Jan 2019 10:32:20 GMT

1

ECB's Draghi: Not all of the euro's benefits are realised in full

ECB president Mario Draghi is sitting in on a panel discussion in the European Parliament at the moment - Most challenges are global, can only be addressed together ForexLive

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ECB's Draghi: Not all of the euro's benefits are realised in full


Justin Low
Tue 15 Jan 2019 10:32:20 GMT
Author: Justin Low
Category: Central Banks
1
ECB president Mario Draghi is sitting in on a panel discussion in the European Parliament at the moment - Most challenges are global, can only be addressed together ForexLive

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Tue 15 Jan 2019 04:12:48 GMT

Plenty of Japan speakers on the agenda in the days ahead (Kuroda, Aso, Asakawa)

Here is a great piece from Bloomberg. Its useful info and, as a bu=onus, I reckon they had a bit of fun putting it together! Recommended! A snapshot, but do check it all out

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Plenty of Japan speakers on the agenda in the days ahead (Kuroda, Aso, Asakawa)


https://az705044.vo.msecnd.net/20190115/bloomberg-pic.png Eamonn Sheridan
Tue 15 Jan 2019 04:12:48 GMT
Category: Central Banks
0
Here is a great piece from Bloomberg. Its useful info and, as a bu=onus, I reckon they had a bit of fun putting it together! Recommended! A snapshot, but do check it all out

Asset 24 View More
Tue 15 Jan 2019 03:50:12 GMT

Comments from PBOC's Zhu on the yuan - confident the currency can be kept stable

Reuters recap of remarks from PBOC dep giv Zhu earlier: Adds in currency comments: - confident can keep yuan stable despite cuts in banks' reserve requirement ratio (RRR) for (not very much) more 

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Comments from PBOC's Zhu on the yuan - confident the currency can be kept stable


Eamonn Sheridan
Tue 15 Jan 2019 03:50:12 GMT
Category: Central Banks
0
Reuters recap of remarks from PBOC dep giv Zhu earlier: Adds in currency comments: - confident can keep yuan stable despite cuts in banks' reserve requirement ratio (RRR) for (not very much) more 

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Tue 15 Jan 2019 02:44:26 GMT

2

PBOC dep gov Zhu says prudent monetary policy does not mean there will be no changes

Well, OK then. Makes sense. People's Bank of China dep gov statements via Reuters  -  prudent monetary policy does not mean there will be no changes Adds;  

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PBOC dep gov Zhu says prudent monetary policy does not mean there will be no changes


https://az705044.vo.msecnd.net/20160326/helicopter-ben-bernanke.png Eamonn Sheridan
Tue 15 Jan 2019 02:44:26 GMT
Category: Central Banks
2
Well, OK then. Makes sense. People's Bank of China dep gov statements via Reuters  -  prudent monetary policy does not mean there will be no changes Adds;  

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Tue 15 Jan 2019 01:51:35 GMT

4

People's Bank of China has cut the RRR rate

This is, in effect, a slight easing in policy from the People's Bank of China. Do note that this is part two of a cut already announced.  More: Headlines via Reuters  

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People's Bank of China has cut the RRR rate


Eamonn Sheridan
Tue 15 Jan 2019 01:51:35 GMT
Category: Central Banks
4
This is, in effect, a slight easing in policy from the People's Bank of China. Do note that this is part two of a cut already announced.  More: Headlines via Reuters  

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Tue 15 Jan 2019 01:16:17 GMT

PBOC sets USD/ CNY central rate at 6.7542 (vs. yesterday at 6.7560)

The People's Bank of China has been revaluing the onshore yuan aggressively at its daily reference rate setting, slowing a little today Net 180 bn added in. No RRs maturing today.

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PBOC sets USD/ CNY central rate at 6.7542 (vs. yesterday at 6.7560)


Eamonn Sheridan
Tue 15 Jan 2019 01:16:17 GMT
Category: Central Banks
0
The People's Bank of China has been revaluing the onshore yuan aggressively at its daily reference rate setting, slowing a little today Net 180 bn added in. No RRs maturing today.

Asset 24 View More
Tue 15 Jan 2019 00:03:34 GMT

Deutsche Bank's projection of 3 Fed rate hikes to come, and maybe even more

The forecast from DB is for  two Federal Open Market Committee rate hikes this year and another to follow in 2020 - June and December in 2019 - June 2020 And … the bank says there could be more if growth in China improves. 

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Deutsche Bank's projection of 3 Fed rate hikes to come, and maybe even more


Eamonn Sheridan
Tue 15 Jan 2019 00:03:34 GMT
Category: Central Banks
0
The forecast from DB is for  two Federal Open Market Committee rate hikes this year and another to follow in 2020 - June and December in 2019 - June 2020 And … the bank says there could be more if growth in China improves. 

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Mon 14 Jan 2019 21:57:15 GMT

3

"'Very possible' the Fed's made its last rate hike of cycle." (Guess who? Hint: she's short)

If you answered former Federal Reserve Chair Janet Yellen, well done you! Yellen speaking Monday (US time): - "If there is a downturn in the global economy and that spills into the U.S. ... It's very possible we may have seen the last interest rate hike of this cycle," Report via ()

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"'Very possible' the Fed's made its last rate hike of cycle." (Guess who? Hint: she's short)


https://az705044.vo.msecnd.net/20190114/0-yellen.png Eamonn Sheridan
Mon 14 Jan 2019 21:57:15 GMT
Category: Central Banks
3
If you answered former Federal Reserve Chair Janet Yellen, well done you! Yellen speaking Monday (US time): - "If there is a downturn in the global economy and that spills into the U.S. ... It's very possible we may have seen the last interest rate hike of this cycle," Report via ()

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Mon 14 Jan 2019 19:24:50 GMT

1

Fed's Clarida: US economy has good momentum going into 2019

Comments from Clarida on Fox I'd bet anything that Powell sent out an email at some point telling everyone that they're not getting a Christmas card from him if they don't mention the world 'patient' in every speech until further notice.

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Fed's Clarida: US economy has good momentum going into 2019


Adam Button
Mon 14 Jan 2019 19:24:50 GMT
Author: Adam Button
Category: Central Banks
1
Comments from Clarida on Fox I'd bet anything that Powell sent out an email at some point telling everyone that they're not getting a Christmas card from him if they don't mention the world 'patient' in every speech until further notice.

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Mon 14 Jan 2019 14:15:41 GMT

1

Yellen: It's possible we've seen the last hike of the cycle

Comments from the former Fed chair in New York ForexLive

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Yellen: It's possible we've seen the last hike of the cycle


//az705044.vo.msecnd.net/20190114/yellen.png Adam Button
Mon 14 Jan 2019 14:15:41 GMT
Author: Adam Button
Category: Central Banks
1
Comments from the former Fed chair in New York ForexLive

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Mon 14 Jan 2019 01:20:51 GMT

El-Erian's 6 reasons why market pricing disagrees with the Fed's outlook for rates

Mohamed A. El-Erian is chief economic adviser at Allianz  He has a piece up on Bloomberg: Several reasons: - Structural upside to the U.S. economy: - The Fed has been again cowed by markets Those are just the bullet points, more detail at the link

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El-Erian's 6 reasons why market pricing disagrees with the Fed's outlook for rates


Eamonn Sheridan
Mon 14 Jan 2019 01:20:51 GMT
Category: Central Banks
0
Mohamed A. El-Erian is chief economic adviser at Allianz  He has a piece up on Bloomberg: Several reasons: - Structural upside to the U.S. economy: - The Fed has been again cowed by markets Those are just the bullet points, more detail at the link

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