Author: Adam Button
1

Fed's Rosengren: I'd be surprised of long-end didn't respond to hikes

Rosengren in the audience Q&A: - We pay attention to the yield curve - Credit slowdown not rapid enough to be a concern; some was expected - Bank lending still at a positive rate Tell me how long until the Fed gets to 3.00% and I'll tell you how long before the yield curve inverts.

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Author: Adam Button
1

Fed's Evans: Repeats that he supports one or two more hikes this year

Evans in Frankfurt - Good progress toward Fed goals explains his support for hikes - Sees notable upside risks to growth - Sees inflation reaching 2% by 2019 Evans has been doing the rounds this week so we've heard most of this before. The nod towards upside risks is something new and it's a bit hawkish and USD-positive but he will wit and see how the data unfolds.

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Author: Ryan Littlestone
14

ECB: March message was way over-interpreted

Reuters with a sources story The euro has dipped on the news to 1.0747 as the ECB says they mishandled their March meeting. Personally I think the move is arse about face as these headlines suggest the ECB is thinking one thing but trying to say something else, and that's that they are thinking about an exit.

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Author: Eamonn Sheridan

PBOC sets USD/CNY central rate at 6.8915 (vs. yesterday at 6.8782)

People's Bank of China open market operations today ... skipping again - By skipping any injection today it's a net drain of 70bn yuan (due to maturing reverse repos) The stronger USD move overnight reflected in the PBOC yuan mid rate today, weaker for the yuan

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Author: Eamonn Sheridan

Barclays AUD forecasts & RBA outlook

First, their AUD/USD and AUD/NZD forecasts (oh, and h/t and thanks to @AntBarton89 !) OK, onto their reasoning and outlook for the RBA (bolding is mine): We see the AUD falling gradually against the USD in 2017.

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Author: Adam Button
2

Fed's Kaplan: Wants to gradually remove accommodation

Fed's Kaplan at an event in Dallas - Political importance of jobs make that part of the dual mandate appropriate - It would be a healthy thing if regional bank Presidents could have more influence

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Author: Adam Button
1

Fed's Fischer: Two more hikes to me 'seems to be about right'

Fischer on CNBC - Health care debate could change my internal calculus - The FOMC has included a small fiscal stimulus in its projections - Two more hikes to me 'seems to be about right' Middle-of-the-road stuff. But note that officials are consistently passing up opportunities to take a more-hawkish view.

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Author: Adam Button
2

Fed's Yellen: No comments on monetary policy

Yellen in Washington at a workforce development conference - Education and skills training needed to address pockets of persistently high unemployment I don't think too many people are going to be reading that speech, myself included.

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Author: Ryan Littlestone
1

BOE's McCafferty: UK will raise rates when the UK economy is strong enough

There must be a reason why every Tom, Dick and Harriet is popping up with Brexit comments Speaking to LBC on the wireless. More from McCafferty; The biggest thing to take from his comments is that he's pretty much ruled himself out of voting for a hike. He'd be a banker to join Forbes on the hike side at any given opportunity so saying the UK isn't ready for a hike is pretty dovish from him.

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Author: Adam Button
1

Poloz: Downside risks identified in last MPR are still on the table

Bank of Canada Governor Stephen Poloz speaks to reporters - Confident government stimulus will show up in the data this year Poloz was asked if a rate cut was still on the table and he pointed to those downside risks. So the answer, I suppose, is 'yes'.

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Author: Adam Button

Poloz: Raising rates prematurely would cause a recession

Poloz in the audience Q&A - Declines to comment on level or direction of interest rates - We're in an era where we may see changes to trade agreements, including NAFTA What he's saying is that Canada has a good deal of slack in the economy. So the BOC can let the economy grow at a faster pace to eat up that slack. The US, meanwhile, will need to hike to cool off growth or risk creating inflation, because there is less slack.

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Author: Adam Button
2

The risks are one-sided headed into Poloz's speech

Bank of Canada Governor comments to be published at 9:55 am ET (1355 GMT) Bank of Canada Governor Stephen Poloz will speak near Toronto at 1410 GMT. Note, however, that his comments will be published on the BOC website 15 minutes earlier.

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