Comments from Powell in Portugal Upbeat comments for sure but he’s still skeptical on inflation rising. “Earlier in the expansion, as the economy recovered, the need for highly accommodative monetary policy was clear,” Powell said. “But with unemployment low and expected to decline further, inflation close to our objective, and the risks to the outlook…
ECB frets about trade war Reuters, citing ECB sources, officials at the central bank are growing increasingly concerned about a trade war. reports that Conversations with high-ranking officials and policymakers suggested the growing fears of a trade war waged by Donald Trump’s U.S. administration against its main trading partners were casting a shadow over the…
Further comments by Villeroy on the day Very much wanting to clarify the situation after he earlier that the first move could come in the summer itself. said
This from Capital Economics on the RBA minutes (June meeting) from yesterday, bolding mine: Miscommunication with missing phrases?
Coming up on Thursday June 21 in the UK – the BoE MPC!
This from the Wall Street Journal on the likely response in the onshore yuan (and the People’s Bank of China setting of it): yesterday – (may be gated) “If the U.S. goes ahead with tariffs, China would need to consider some of the more aggressive options,” said Brad Setser, a senior fellow at the Council…
People’s Bank of China with the daily reference rate for onshore yuan against the USD. A huge drop for the CNY on the day. If you wanna go beyond 2%, CNH is for you (the offshore yuan)
ICYMI, the People’s Bank of China delivered a surprise stimulus yesterday, injecting funds: RBC have been quick with an analysis, this in summary from their piece overnight:
Comments by BOJ deputy governor Amamiya Nothing new so far to come from Amamiya with regards to policy. The Japanese government is set to introduce a sales tax hike in fiscal year 2019 so that will cause a bit of a ruckus in the Japanese economy.
Villeroy is also the Bank of France governor The French economy grew by 1.9% in 2017, so a moderate estimate of 1.8% is actually pretty decent considering the softness seen in other major Eurozone economies to start the year.