US Fed heads Evans and Rosengreen speaking in Beijing
Both doves so the comments can be expected to be on that side but Rosengreen can be flaky.
Evans:
- low growth low rate world is a difficult situation
- spike in long run rates unlikely even if Fed finds it needs to raise rates faster than expected
Rosengreen:
- Fed's inflation outlook employment mandates likely to be achieved relatively soon
- timing of rate hikes should deepen in part on financial stability concerns
- somewhat faster rate hikes could reduce severity of next economic downturn
- risks to low rates for extended period
- back slow gradual approach to rate hikes that support growth
- labour market may well be at full employment
Both seemed resigned to rate hikes sooner rather than later.
Adam highlighted the swing-both-ways tendency of Rosengreen in an excellent preview here.
USD coming in for a small sell though with USDJPY 103.23 GBPUSD 1.3104 but euro still lagging.