GMTAuthor: Eamonn Sheridan

Emerging markets wobbles are not going away any time soon with more tightening to come from the Fed and others

Deputy governor of the Central bank of Sri Lanka has warned
  • the Bank will intervene 'aggressively' today to curtail excess volatility in the rupee
  • won't tolerate excess volatility in the currency



ForexLive

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Fri 21 Sep 2018 01:15:48 GMT

PBOC sets USD/ CNY mid-point today at 6.8357 (vs. yesterday at 6.8530)

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PBOC sets USD/ CNY mid-point today at 6.8357 (vs. yesterday at 6.8530)


Eamonn Sheridan
Fri 21 Sep 2018 01:15:48 GMT
Category: Central Banks
0


PBOC boosts the CNY at today's setting  Skips OMOs today - net drain of 110bn given maturing RRs - for the week, a net 60bn yuan injection 

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GBP/USD Selling off 200MA
Asset 41
Fri 21 Sep 2018 01:14:58 GMT

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BOJ has cut the amount of 25+ year JGB purchases by Y10bn to Y50bn today

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BOJ has cut the amount of 25+ year JGB purchases by Y10bn to Y50bn today


Eamonn Sheridan
Fri 21 Sep 2018 01:14:58 GMT
Category: Central Banks
4
The previous QE operation where the Bank of Japan bought 25+ year JGBs they bought Y60bn Trimmed that back a little at today's operation  The quiet tiny taper continues despite the BOJ missing its inflation target. 

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Fri 21 Sep 2018 00:24:34 GMT

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Former BOJ board member Shirai: "the likelihood of achieving 2% inflation is low"

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Former BOJ board member Shirai: "the likelihood of achieving 2% inflation is low"


https://az705044.vo.msecnd.net/20150909/boj's-sayuri-shirai.png Eamonn Sheridan
Fri 21 Sep 2018 00:24:34 GMT
Category: Central Banks
2
Writing a piece in the Nikkei, this from Shirai on where the Bank of Japan should go from here - the likelihood of achieving 2% inflation is low - underlying inflation is weak More:

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Thu 20 Sep 2018 22:43:28 GMT

NZD traders - An early preview of the RBNZ meeting next week (and where to for the NZD)

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NZD traders - An early preview of the RBNZ meeting next week (and where to for the NZD)


Eamonn Sheridan
Thu 20 Sep 2018 22:43:28 GMT
Category: Central Banks
0
Reserve Bank of New Zealand monetary policy announcement is due on 27 September at 2100 GMT I posted a preview yesterday here:  NZD traders - the RBNZ meet next week, no change expected (no way)

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Thu 20 Sep 2018 20:48:52 GMT

Stick this in your diary - Fed's Powell to speak September 27

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Stick this in your diary - Fed's Powell to speak September 27


Eamonn Sheridan
Thu 20 Sep 2018 20:48:52 GMT
Category: Central Banks
0
Chair of the Federal Reserve Powell will make brief comments at a Senate event  - On Sep 27 - From 4.30pm ET (which is 2030GMT) We'll be hearing from Powell the day before anyway at his post-FOMC news conference

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Thu 20 Sep 2018 19:07:14 GMT

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Goldman Sachs: The Fed can and will hike rates above 3.00%

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Goldman Sachs: The Fed can and will hike rates above 3.00%


//az705044.vo.msecnd.net/20170124/hatzius.png Adam Button
Thu 20 Sep 2018 19:07:14 GMT
Category: Central Banks
2
Goldman Sachs on what's coming for interest rates The debate around the neutral rate was ramped up by comments from Fed Governor Lael Brainard earlier this month. She advanced the idea that the short-term neutral rate was higher than the long-term rate, which the Fed pegs around 2.75-3.00%.

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Thu 20 Sep 2018 17:21:23 GMT

ECB's Praet: Eurozone economy continues to expand at above-potential rate

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ECB's Praet: Eurozone economy continues to expand at above-potential rate


Adam Button
Thu 20 Sep 2018 17:21:23 GMT
Category: Central Banks
0
Praet speech on "Challenges to monetary policy normalization" in New York So far he he's a tad hawkish. ForexLive

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Thu 20 Sep 2018 13:34:22 GMT

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Fed's Powell has been doing the rounds at Congress trying to protect independence

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Fed's Powell has been doing the rounds at Congress trying to protect independence


Adam Button
Thu 20 Sep 2018 13:34:22 GMT
Category: Central Banks
2
CNBC report I don't think there's much here to move the market but the story is that Powell has spent much more time on Capitol Hill than Yellen did. . Read it here

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Thu 20 Sep 2018 13:05:51 GMT

South African Reserve Bank boosts inflation forecasts for 2019, 2020 (update: rates unchanged)

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South African Reserve Bank boosts inflation forecasts for 2019, 2020 (update: rates unchanged)


//az705044.vo.msecnd.net/20180920/usdzar-daily.png Adam Button
Thu 20 Sep 2018 13:05:51 GMT
Category: Central Banks
0
SARB statement highlights The South African central bank has a different way of announcing decisions. The statement is all about the forecasts but they decide on rates and announce them live in the press conference.

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Thu 20 Sep 2018 12:35:14 GMT

Weidmann: ECB must not ignore the risks of loose monetary policy

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Weidmann: ECB must not ignore the risks of loose monetary policy


Adam Button
Thu 20 Sep 2018 12:35:14 GMT
Category: Central Banks
0
Comments from Weidmann: ForexLive

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Thu 20 Sep 2018 10:15:48 GMT

SNB's Jordan: Franc's rise requires expansionary monetary policy

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SNB's Jordan: Franc's rise requires expansionary monetary policy


//az705044.vo.msecnd.net/20170802/snb-jordan.png Justin Low
Thu 20 Sep 2018 10:15:48 GMT
Category: Central Banks
0
Comments by SNB head Thomas Jordan - Expects slower growth in 2H 2018 - Doesn't see any danger of the economy overheating ForexLive Jordan stating that the stronger Swiss franc is the main reason the central bank is retaining expansive monetary policy. The SNB is not deviating from the script still and with the lower inflation forecasts earlier, means that they will only move in the latter parts of 2019 to normalise policy - or in other words after the ECB does so.

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Thu 20 Sep 2018 07:30:01 GMT

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SNB leaves sight deposit interest rate unchanged at -0.75%

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SNB leaves sight deposit interest rate unchanged at -0.75%


//az705044.vo.msecnd.net/20171127/snb.png Justin Low
Thu 20 Sep 2018 07:30:01 GMT
Category: Central Banks
1
The SNB announces its 20 September 2018 monetary policy meeting decision - -0.75% - 3-month Libor lower target range -1.25% - 3- month Libor upper target range -0.25%

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Thu 20 Sep 2018 03:29:38 GMT

SNB monetary policy meeting announcement coming up - preview

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SNB monetary policy meeting announcement coming up - preview


Eamonn Sheridan
Thu 20 Sep 2018 03:29:38 GMT
Category: Central Banks
0
Swiss National Bank coming up during Europe time I posted a couple of previews here earlier on what to expect: A couple more Commerzbank:  Citi: 

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Thu 20 Sep 2018 01:16:30 GMT

PBOC sets USD/ CNY reference rate for today at 6.8530 (vs. yesterday at 6.8569)

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PBOC sets USD/ CNY reference rate for today at 6.8530 (vs. yesterday at 6.8569)


Eamonn Sheridan
Thu 20 Sep 2018 01:16:30 GMT
Category: Central Banks
0
Little change again at the mid rate daily setting from the People's Bank of China  Market moving news yesterday included this: In Open Market operations,net drain of 30bn yuna (100bn in RRs mature today)

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Thu 20 Sep 2018 00:24:24 GMT

Swiss National Bank meet Thursday - preview (spoiler: no change)

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Swiss National Bank meet Thursday - preview (spoiler: no change)


Eamonn Sheridan
Thu 20 Sep 2018 00:24:24 GMT
Category: Central Banks
0
SNB meet 20 September 2018 and expected to maintain its target range for 3mth Libor at between minus 0.25 and minus 1.25% Nomura: ForexLive

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Thu 20 Sep 2018 00:05:12 GMT

NZD traders - the RBNZ meet next week, no change expected (no way)

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NZD traders - the RBNZ meet next week, no change expected (no way)


Eamonn Sheridan
Thu 20 Sep 2018 00:05:12 GMT
Category: Central Banks
0
The Reserve Bank of New Zealand announcement next week is on 27 September at 2100 GMT Its no surprise that there will be no change in rates For one thing, its a OCR announcement only, there will be no Monetary Policy Statement and no media conference following from Governor Orr

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Wed 19 Sep 2018 23:52:49 GMT

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A rate hike on the cards from the BOJ - perhaps before year end says this analyst

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A rate hike on the cards from the BOJ - perhaps before year end says this analyst


Eamonn Sheridan
Wed 19 Sep 2018 23:52:49 GMT
Category: Central Banks
2
Thoughts on the Bank of Japan after yesterday's monetary policy statement for September Via Pantheon Economics, this in brief: Huh, can't see a hike before year end myself but an interesting take (ps that is just a very brief summary of the note).

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Wed 19 Sep 2018 21:36:21 GMT

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Trump to nominate a former Fed economist to the board of governors

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Trump to nominate a former Fed economist to the board of governors


Eamonn Sheridan
Wed 19 Sep 2018 21:36:21 GMT
Category: Central Banks
1
The Wall Street Journal reports on the nomination of Nellie Liang, a Federal Reserve long-termer, to the Board - a former Federal Reserve economist - joined the Fed in 1986 citing a person familiar with the matter

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Wed 19 Sep 2018 21:24:59 GMT

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Brazil - Central bank leaves rates on hold, as expected

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Brazil - Central bank leaves rates on hold, as expected


https://az705044.vo.msecnd.net/20180919/brl-chart.png Eamonn Sheridan
Wed 19 Sep 2018 21:24:59 GMT
Category: Central Banks
1
Banco Central do Brasil (BCB, Brazil's central bank) left its key rates unchanged at its meeting - benchmark Selic rate at 6.50%, an all time low  - for the 4th meeting in a row The real has been heavy (many EMs have been, of course) but BCB leaving the Selic alone.

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Wed 19 Sep 2018 14:03:14 GMT

Atlanta Fed GDPNow remains at 4.4% in their current estimate

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Atlanta Fed GDPNow remains at 4.4% in their current estimate


//az705044.vo.msecnd.net/20180919/2018-09-19_7-01-18.jpg Greg Michalowski
Wed 19 Sep 2018 14:03:14 GMT
Category: Central Banks
0
Still showing strong growth The Atlanta Fed's GDPNow estimate for the 3Q growth remains at 4.4%. IN their own words: The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2018 is  on September 19, unchanged from September 14. After this morning's new residential construction release from the U.S. Census Bureau, the nowcast of third-quarter real residential investment growth inched up from -0.7 percent to -0.2 percent.

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Wed 19 Sep 2018 13:33:30 GMT

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Draghi talks EU spending

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Draghi talks EU spending


Adam Button
Wed 19 Sep 2018 13:33:30 GMT
Category: Central Banks
1
Draghi in Berlin There were no comments on the outlook or monetary policy so far from Draghi in Berlin. He's talking about the EU fiscal instrument and says that it should be large enough to restore full confidence and stability but should be designed properly to avoid moral hazard.

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Wed 19 Sep 2018 09:12:08 GMT

PBOC's Yi says that central bank will maintain prudent and neutral monetary policy

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PBOC's Yi says that central bank will maintain prudent and neutral monetary policy


//az705044.vo.msecnd.net/20171128/pboc.png Justin Low
Wed 19 Sep 2018 09:12:08 GMT
Category: Central Banks
0
Comments by PBOC governor Yi Gang ForexLive Tightening credit and liquidity has been a real issue for Chinese banks and companies this year and it's been a balancing act for the most part by the PBOC. There's to continue to pump more liquidity into the market so that will be something to look out for as the year winds down.

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Wed 19 Sep 2018 08:01:48 GMT

BOE's Haldane: Business concerns about Brexit and uncertainty have picked up sharply

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BOE's Haldane: Business concerns about Brexit and uncertainty have picked up sharply


//az705044.vo.msecnd.net/20180904/andrew-haldane.png Justin Low
Wed 19 Sep 2018 08:01:48 GMT
Category: Central Banks
0
Comments by BOE economist Andy Haldane - Concerns have picked up sharply over the past few months - Concerns about understanding, trust and legitimacy of central banks are real ForexLive

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Wed 19 Sep 2018 07:25:29 GMT

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BOJ's Kuroda: No central bank wants to tighten or ease policy indefinitely

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BOJ's Kuroda: No central bank wants to tighten or ease policy indefinitely


//az705044.vo.msecnd.net/20180228/boj-kuroda-mic-drop.png Justin Low
Wed 19 Sep 2018 07:25:29 GMT
Category: Central Banks
1
BOJ governor Kuroda still on the mic - BOJ has now brought in forward guidance - As long as there is uncertainty, will maintain low rates - By adding forward guidance, policy framework has been made stronger ForexLive

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