No mention of Moody’s or Fitch Ratings in their statement With Chinese economic growth and FDI already seen struggling last year, authorities are likely to need further support from foreign participation/investment to boost growth this year. Hence, explaining part of the reasoning in the decision here.
The Federal Open Market Committee meeting announcement is due 30 January 2019 at 1900GMT – Fed Chair Powell news conference follows at 1930GMT Earlier post on what Morgan Stanley are looking for:
Morgan Stanley on the Federal Open Market Committee meeting (due 30 January 2019 at 1900GMT, Fed Chair Powell news conference follows at 1930GMT) (bolding mine)
Further strength for the yuan at the daily setting today People’s Bank of China skips OMOs again today – net not injection nor drain. ForexLive
Tough to explain the US dollar weakness today The Wall Street Journal reported today that the Fed may keep a larger balance sheet than previously believed. This was framed as a technical decision with officials at the Fed arguing that shrinking the balance sheet is unnecessary to pin short term rates.
Further comments by ECB governing council member Villeroy – ECB remains committed to price stability ForexLive This is very much a repeat of the comments by Draghi yesterday. I guess ECB members today just want to make sure that markets are well aware of where the ECB is moving towards in the coming months with…
Comments by SNB chief Thomas Jordan to CNN – Current expansive monetary policy is still needed – FX markets are still fragile – Global economic uncertainty has increased ForexLive
BOJ’s Kuroda: Natural rate of interest will fall if long-term growth declines together with demographic changes
BOJ governor Haruhiko Kuroda speaks in Davos – That will also increase risk for central banks facing zero lower bound – Ageing society could lead to weaker credit demand ForexLive
Comments by ECB governing council member Vitas Vasiliauskas – Expects ECB forecasts to be revised in March – Balance of risks has ‘negative outlook’ – TLTROs could potentially play a role ForexLive
ECB releases the results of its latest survey of professional forecasters – 2019 GDP growth seen at 1.5% (previously 1.8%) – 2020 GDP growth seen at 1.5% (previously 1.6%) ForexLive