Author: Eamonn Sheridan
1

Goldman Sachs preview of this week's FOMC meeting

The Federal Open Market Committee meet on Tuesday nad Wednesday (12-13 December 2017) Comments from the GS preview (in brief): FOMC almost certain to deliver the third rate hike of 2017

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Goldman Sachs preview of this week's FOMC meeting


Author: Eamonn Sheridan
Category: Central Banks
1


The Federal Open Market Committee meet on Tuesday nad Wednesday (12-13 December 2017) Comments from the GS preview (in brief): FOMC almost certain to deliver the third rate hike of 2017

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Trump describes an extremely bizarre trade negotiation
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Author: Eamonn Sheridan

Brace for the biggest tightening of monetary policy in more than a decade

Bloomberg report on Citigroup and JPMorgan economists warning of rate rises around the globe in 2018 - The two banks say average interest rates across advanced economies will climb to at least 1%

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Brace for the biggest tightening of monetary policy in more than a decade


Author: Eamonn Sheridan
Category: Central Banks
0
Bloomberg report on Citigroup and JPMorgan economists warning of rate rises around the globe in 2018 - The two banks say average interest rates across advanced economies will climb to at least 1%

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Author: Eamonn Sheridan

PBOC sets USD/CNY reference rate for today at 6.6152

People's Bank of China onshore yuan reference rate In Open Market operations, People's Bank of China - To inject 40bn yuan through 7 day reverse repos - and to inject 40bn yuan through 28 day reverse repos also After allowing for maturing RRs it's a net injection of 20 bn yuan

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PBOC sets USD/CNY reference rate for today at 6.6152


Author: Eamonn Sheridan
Category: Central Banks
0
People's Bank of China onshore yuan reference rate In Open Market operations, People's Bank of China - To inject 40bn yuan through 7 day reverse repos - and to inject 40bn yuan through 28 day reverse repos also After allowing for maturing RRs it's a net injection of 20 bn yuan

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Author: Eamonn Sheridan
1

The BOJ own >74% of Japan's ETFs ... future purchases expected to slow ...

So, I guess when reading that the Bank of Japan own around three quarters of ETFs in Japan its sorta like 'back to reality' .... and wow, what a reality ... UBS and Daiwa both expect BOJ purchases to slow next year:

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The BOJ own >74% of Japan's ETFs ... future purchases expected to slow ...


Author: Eamonn Sheridan
Category: Central Banks
1
So, I guess when reading that the Bank of Japan own around three quarters of ETFs in Japan its sorta like 'back to reality' .... and wow, what a reality ... UBS and Daiwa both expect BOJ purchases to slow next year:

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Author: Eamonn Sheridan
1

Bitcoin futures about to launch ... and BTC is a bubble says RBNZ head

Helmets on for the launch of BTC futures: CBOE Bitcoin futures launch on Sunday. Seven things you need to know Meanwhile, in New Zealand ... - Reserve Bank of New Zealand Acting Governor Grant Spencer says on Bitcoin: Spencer was speaking in interview with TVNZ broadcast on Sunday

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Bitcoin futures about to launch ... and BTC is a bubble says RBNZ head


Author: Eamonn Sheridan
Category: Central Banks
1
Helmets on for the launch of BTC futures: CBOE Bitcoin futures launch on Sunday. Seven things you need to know Meanwhile, in New Zealand ... - Reserve Bank of New Zealand Acting Governor Grant Spencer says on Bitcoin: Spencer was speaking in interview with TVNZ broadcast on Sunday

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Author: Adam Button
7

It's a big week for central banks. What's on the agenda

Central bank decisions this week Monday: - SNB Sight Deposits Tuesday: - RBA's Lowe Wednesday: - RBA's Kent - FOMC decision with forecasts and Yellen's final press conference Thursday:

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It's a big week for central banks. What's on the agenda


Author: Adam Button
Category: Central Banks
7
Central bank decisions this week Monday: - SNB Sight Deposits Tuesday: - RBA's Lowe Wednesday: - RBA's Kent - FOMC decision with forecasts and Yellen's final press conference Thursday:

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Author: Adam Button
2

Peter Henry is the front runner to be NY Fed President - report

Reuters says Henry is the favorite as the field narrows Reuters reports that the New York Fed has narrowed the field of candidates to take over from Bill Dudley when he retires next year. The leading contender is Peter Blair Henry, 48, dean of New York University's Stern School of Business.

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Peter Henry is the front runner to be NY Fed President - report


Author: Adam Button
Category: Central Banks
2
Reuters says Henry is the favorite as the field narrows Reuters reports that the New York Fed has narrowed the field of candidates to take over from Bill Dudley when he retires next year. The leading contender is Peter Blair Henry, 48, dean of New York University's Stern School of Business.

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Author: Mike Paterson
2

BOE TNS survey has UK public upping inflation expectations to 2.9%

The latest BOE survey of the UK public now published 8 Dec Be clear this is not a BOE forecast but joe public and therefore of little note. Sorry Joe.  ( and to all my antagonists out there who feel I'm desperate to put a negative stance on everything, yes I would be saying the same thing even if it was a 2.3% header!)

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BOE TNS survey has UK public upping inflation expectations to 2.9%


Author: Mike Paterson
Category: Central Banks
2
The latest BOE survey of the UK public now published 8 Dec Be clear this is not a BOE forecast but joe public and therefore of little note. Sorry Joe.  ( and to all my antagonists out there who feel I'm desperate to put a negative stance on everything, yes I would be saying the same thing even if it was a 2.3% header!)

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Author: Adam Button
4

Up next: Draghi to speak at BIS event

Draghi to speak at the top of the hour Mario Draghi is due to speak in his capacity as Chair of the Group of Governors and Heads of Supervision in a press conference for the Bank of International Settlements.

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Up next: Draghi to speak at BIS event


Author: Adam Button
Category: Central Banks
4
Draghi to speak at the top of the hour Mario Draghi is due to speak in his capacity as Chair of the Group of Governors and Heads of Supervision in a press conference for the Bank of International Settlements.

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Author: Greg Michalowski

BOJ Kuroda: Economy has improved under QE with yield curve control

Speaking in Tokyo He adds: The USDJPY remains near the high for the day and also near the 100 hour MA at 112.498 (trades at 112.44).  Yesterday, the price fell below this level and did not stop until reaching the 200 hour MA at  111.97.  The price has been stepping higher and returns to where it all started one day ago.  Sellers are leaning against the resistance level.  The Kuroda comments are not having a big impact on the the prices.  

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BOJ Kuroda: Economy has improved under QE with yield curve control


Author: Greg Michalowski
Category: Central Banks
0
Speaking in Tokyo He adds: The USDJPY remains near the high for the day and also near the 100 hour MA at 112.498 (trades at 112.44).  Yesterday, the price fell below this level and did not stop until reaching the 200 hour MA at  111.97.  The price has been stepping higher and returns to where it all started one day ago.  Sellers are leaning against the resistance level.  The Kuroda comments are not having a big impact on the the prices.  

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Author: Greg Michalowski

Comments from RBNZ: The economy continues to perform well

RBNZ in briefing to incoming minister dated October In the comments from the RBNZ to the incoming PM Ardern they said: The news is old and not necessarily trade worthy.

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Comments from RBNZ: The economy continues to perform well


Author: Greg Michalowski
Category: Central Banks
0
RBNZ in briefing to incoming minister dated October In the comments from the RBNZ to the incoming PM Ardern they said: The news is old and not necessarily trade worthy.

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Author: Adam Button
9

The war against cash is coming

This is the best reason for alternative currencies Negative interest rates are the pet project of incoming Federal Reserve Governor Marvin Goodfriend. He believes the FOMC needs to power to make people pay to deposit money in the bank.

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The war against cash is coming


Author: Adam Button
Category: Central Banks
9
This is the best reason for alternative currencies Negative interest rates are the pet project of incoming Federal Reserve Governor Marvin Goodfriend. He believes the FOMC needs to power to make people pay to deposit money in the bank.

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Author: Adam Button

Brazil cuts benchmark lending rate by 50 bps to 7.00%

Brazil lowers lending rates The 50 bps cut in the benchmark rate was anticipated by all 49 economists surveyed by Bloomberg. Policymakers also signaled a further reduction at the next meeting and said the inflation trend was favorable.

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Brazil cuts benchmark lending rate by 50 bps to 7.00%


Author: Adam Button
Category: Central Banks
0
Brazil lowers lending rates The 50 bps cut in the benchmark rate was anticipated by all 49 economists surveyed by Bloomberg. Policymakers also signaled a further reduction at the next meeting and said the inflation trend was favorable.

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Author: Adam Button
4

Moody's says ECB bond purchases lowered 10-year eurozone yields 50-150 bps

Moody's on ECB asset purchase program - QE program estimated to have lowered 10-year yields between 50-150 bps across major Eurozone countries - Stimulus from bond purchases was biggest in periphery Spanish 10-year bonds now pay just 1.43%. When you step back and look at the drop, it's just incredible.

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Moody's says ECB bond purchases lowered 10-year eurozone yields 50-150 bps


Author: Adam Button
Category: Central Banks
4
Moody's on ECB asset purchase program - QE program estimated to have lowered 10-year yields between 50-150 bps across major Eurozone countries - Stimulus from bond purchases was biggest in periphery Spanish 10-year bonds now pay just 1.43%. When you step back and look at the drop, it's just incredible.

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Author: Adam Button
1

May and Varadkar agree on 'paramount importance' of no hard border

Statement from UK and Irish leaders Let's make a deal.

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May and Varadkar agree on 'paramount importance' of no hard border


Author: Adam Button
Category: Central Banks
1
Statement from UK and Irish leaders Let's make a deal.

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Author: Adam Button

Hawkish signal isn't BOC's style - CIBC

CIBC on the Bank of Canada CIBC Research discusses its reaction to today's BoC December statement and notes that it didn't offer a clearer call on just how long they will be waiting and seeing before raising rates again.

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Hawkish signal isn't BOC's style - CIBC


Author: Adam Button
Category: Central Banks
0
CIBC on the Bank of Canada CIBC Research discusses its reaction to today's BoC December statement and notes that it didn't offer a clearer call on just how long they will be waiting and seeing before raising rates again.

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Author: Adam Button
3

Full text of the Bank of Canada decision December 6, 2017

From the Bank of Canada Bank of Canada maintains overnight rate target at 1 per cent The Bank of Canada today maintained its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.

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Full text of the Bank of Canada decision December 6, 2017


Author: Adam Button
Category: Central Banks
3
From the Bank of Canada Bank of Canada maintains overnight rate target at 1 per cent The Bank of Canada today maintained its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.

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Author: Adam Button
7

Bank of Canada holds rates at 1.00%, as expected

Highlights of the Bank of Canada interest rate decision and statement on Dec 6, 2017: - Repeats that higher rates will likely be needed over time - Says will be guided by incoming data USD/CAD was at 1.2662 before the announcement but jumped to 1.2737 afterwards.

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Bank of Canada holds rates at 1.00%, as expected


Author: Adam Button
Category: Central Banks
7
Highlights of the Bank of Canada interest rate decision and statement on Dec 6, 2017: - Repeats that higher rates will likely be needed over time - Says will be guided by incoming data USD/CAD was at 1.2662 before the announcement but jumped to 1.2737 afterwards.

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Author: Adam Button

Up next: The Bank of Canada decision

The BOC interest rate decision is coming up at the top of the hour The market is pricing in a 16% chance of a hike. The final paragraph is the one to watch. Here is what it said previously:

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Up next: The Bank of Canada decision


Author: Adam Button
Category: Central Banks
0
The BOC interest rate decision is coming up at the top of the hour The market is pricing in a 16% chance of a hike. The final paragraph is the one to watch. Here is what it said previously:

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Author: Mike Paterson
2

USDCAD continues to retreat with BOC in focus

Another back foot session for the pair 6 Dec Bank of Canada interest rate decision and statement in focus at 15.00 GMT and markets are still not ruling out a hike after some recent strong data.

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USDCAD continues to retreat with BOC in focus


Author: Mike Paterson
Category: Central Banks
2
Another back foot session for the pair 6 Dec Bank of Canada interest rate decision and statement in focus at 15.00 GMT and markets are still not ruling out a hike after some recent strong data.

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Author: Mike Paterson

RBI leaves repo rate unchanged at 6.0%

Reserve Bank of India out with latest decision 6 Dec - reverse repo unchanged at 5.75% - cash reserve ratio unch at 4.0% - retains neutral policy stance - 5 from 6 MPC members voted to keep rates on hold Indian equity markets not liking the hawkish/cautious stance on inflation risks with NSEI down 0.6%  but rupee enjoying some gains before reversing.

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RBI leaves repo rate unchanged at 6.0%


Author: Mike Paterson
Category: Central Banks
0
Reserve Bank of India out with latest decision 6 Dec - reverse repo unchanged at 5.75% - cash reserve ratio unch at 4.0% - retains neutral policy stance - 5 from 6 MPC members voted to keep rates on hold Indian equity markets not liking the hawkish/cautious stance on inflation risks with NSEI down 0.6%  but rupee enjoying some gains before reversing.

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Author: Greg Michalowski
1

Fed's Evans in NYT article says "Why hurry to raise rates?"

Fed should consider not hiking until mid-2018 according to an article in the New York Times Chicago Fed president Charles Evans, is not so anxious to raise rates in December like other Fed officials (don't bet on the Fed not hiking).  This is according to an article in the NY Times )

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Fed's Evans in NYT article says "Why hurry to raise rates?"


Author: Greg Michalowski
Category: Central Banks
1
Fed should consider not hiking until mid-2018 according to an article in the New York Times Chicago Fed president Charles Evans, is not so anxious to raise rates in December like other Fed officials (don't bet on the Fed not hiking).  This is according to an article in the NY Times )

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Author: Adam Button
11

What's priced in for the Bank of Canada

The BOC meeting is tomorrow The BOC decision on Wednesday is intriguing because there is a substantial chance of a surprise hike priced in. Part of that owes to the BOC's recent history of surprising markets. Another part is because of strong jobs numbers last week.

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What's priced in for the Bank of Canada


Author: Adam Button
Category: Central Banks
11
The BOC meeting is tomorrow The BOC decision on Wednesday is intriguing because there is a substantial chance of a surprise hike priced in. Part of that owes to the BOC's recent history of surprising markets. Another part is because of strong jobs numbers last week.

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