The ECB will continue to do what it needs to do – German court ruling runs counter to ECJ – There will not be an impact from the ruling on ECB actions It will be interesting to see how all of this impacts the 4 June monetary policy meeting. But for now, it seems to […]
Blogs
BOE's Bailey: We are not out of monetary policy tools
Remarks by BOE governor, Andrew Bailey, after the policy decision earlier – We will continue to come up with appropriate responses – BOE is clearly committed to take action when needed See here for global coronavirus case data
ECB's de Guindos repeats that fiscal response to the crisis is very important
The ECB continues to call on European governments to not leave them hanging See here for global coronavirus case data
ECB's de Guindos: ECB does not target the exchange rate
Further comments by ECB vice president, Luis de Guindos – PEPP has flexibility with timing, assets – ECB is open to recalibrate all of its instruments See here for global coronavirus case data
ECB's de Guindos: ECB stands ready to make further adjustments to current measures
Comments by ECB vice president, Luis de Guindos, as he presents the 2019 ECB annual report to EU lawmakers – ECB constantly monitoring the situation – ECB policy has provided crucial support to the economy See here for global coronavirus case data
BOE's Bailey: Expects economic recovery to be much more rapid than from the global financial crisis
Comments by BOE governor, Andrew Bailey – Expects the recovery of the economy to happen over time – Expects the effects on demand to go on for around a year after lockdown See here for global coronavirus case data
BOJ's commercial paper holdings jumped by nearly 30% last month
This shows the BOJ intervened strongly to ease funding strains by companies hit by the virus fallout The latest data from the central bank showed that their holdings of commercial paper stood at ¥3.26 trillion as of 30 April, up by roughly 28% from a month ago.
New Zealand 2 year inflation expectations for Q2: 1.24% (prior 1.93%)
RBNZ survey of inflation expectations – 1 year 0.74% (prior 1.88%) – 2 year 1.24% (prior 1.93%) … this is record low A sharp drop in expectations like this would be huge news and would indicate a likely RBNZ easing … but the RBNZ has already eased substantially and is on an easing path. further […]
GBP is dribbling lower ahead of the Bank of England decision due soon
I posted a preview of the BoE monetary policy announcement due on Thursday 7 May 2020: The chatter is out of Asia that cable is seeing a few offers as some funds take a net bearish view into the announcement. Next support bids coming in around 1.2300.
PBOC sets USD/ CNY reference rate for today at 7.0931 (vs. yesterday at 7.0690)
People's Bank of China PBOC to skip OMOS today See here for global coronavirus case data