Benoît Cœuré is a member of the Executive Board of the European Central Bank And, he is the running to be next ECB President (current head Mario Draghi’s term end in about a year):
Final reference rate for the week from the People’s Bank of China … and what a week PBOC to skip OMOs today – given maturing RRs it’ll mean a net drain of 110bn yuan in OMO today For the week, net 500bn yuan drain via OMOs (recall on Wednesday the RRR cut came into…
They’ve found a loophole There has been a twist in the race to replace Mario Draghi has head of the ECB. Most ECB-watchers thought European law prohibited members of the executive board rising to President but the WSJ reports that top officials recently received legal advice that Benoit Coeure, could be elevated to president via a…
Bank of Japan Kuroda spoke today, post is here: BOJ Gov Kuroda says will maintain YCC as long as needed to get inflation at 2% There was nothing new in his words, more of the same, but if you’d like a recap Reuters have this on line now, :
Not much changed from Friday’s mid rate People’s Bank of China to skip OMOs today – 3rd consecutive day No RRs mature today
British Chambers of Commerce’s Quarterly Economic Survey Survey indicates: Comment from BCC head of economics Suren Thiru
Further comments by ECB’s Nowotny ForexLive A continued reiteration of the “summer of 2019” timeline that the ECB won’t act to change interest rates. Not anything new, but certainly reaffirms the fact that they are not leaving themselves with a lot of flexibility in terms of moving to raise rates next year.
Comments by ECB member Ewald Nowotny Nothing too new from Nowotny as he plays up the inflation rhetoric and plays down the slowdown in growth so far seen in the Eurozone this year. Surprisingly, he isn’t as worried about the global trade situation – which has already started impacting European companies.
BOJ releases its Sakura report on the economies of domestic regions here prior report