HKMA buys moar HKD as USD/HKD continues to hit the 7.85 ceiling ForexLive Reported intervention by the HKMA, buying HK$3.925 billion to support the Hong Kong dollar against the greenback. The aggregate balance of the central authority will fall to HK$86.976 billion as a result by 29 August – all things equal.
Latest info has the Hong Kong Monetary Authority purchasing more HKD in intervention efforts – HKD 2.8bn of local currency bought – HKMA seeking to once again defend the trading band The upper bound is at 7.85 for USD/HKD
Speaks to CPI, tariffs and normalizing policy Poloz will be on a panel tomorrow. That will be the last time he will be speaking before the September meeting.
Powell brushes off inflation worries The big question is: What happens after the fed funds rate gets to ‘neutral’, which is somewhere between 2.50%-3.00% in the Fed’s view.
Powell at Jackson Hole on August 24, 2018: A bit dovish at first take. The lines on the conditions for the hikes are a bit soft and there isn’t the same kind of optimism on the economy that we heard from a few other Fed members at Jackson Hole.
What’s priced in for the Fed funds rate The next meeting is September 26 and the market is pricing in a 95% chance of a hike. The market has also been pricing in a higher chance of a second hike this year in December. That’s up to 68.4%, up from 58% at the start of…
More from Mester at Jackson Hole ForexLive
Comments by St Louis Fed president James Bullard – There is no need to take on the yield curve – The Fed needs to be very careful – Market outlook is flattening the yield curve ForexLive
The People’s Bank of China injects 149bn yuan into money markets in a one year medium term lending facility operation – Rate is 3.3%, the same as the previous MLF
Sharp devaluation again for the onshore yuan looks like no open market operations from the PBOC today ForexLive