Nothing radical in Lopez-Obrador central bank strategy The leading candidate to take over Mexico’s presidency said he would like to bring new personnel into the central bank when current terms expire but that he won’t change the mandate.
Overnight EUR strength on the remarks from European Central Bank chief economist Peter Praet He was very clear indeed: – Though it will be a “judgment” call This follows the EUR rally the previous day on the back of hints:
The Bank of Canada release its Financial System Review today, Thursday 7 June 2018, coming up at 1430GMTY The FSR is a twice yearly publication from the BoC RBC have a preview of what to watch for:
In Open Market operations – PBOC injects 20bn yuan via 7-day reverse repos – PBOC injects 20bn yuan via 28-day reverse repos Net drain of 70bn yuan in OMOs more to come
Comments by ECB member Ardo Hansson to Estonian newspaper Sakala It is not noted when Hansson delivered those remarks, but they don’t look like they’re extremely old ones. If anything, this further reinforces the hawkish expectation ahead of the ECB meeting next week.
The People’s Bank of China had skipped OMOs earlier today But a fund injection now via the medium term lending facility More: – Injects 463bn yuan for one year at a rate of 3.3%
Earlier news re People’s Bank of China moves (or potential moves I should say): – In Open Market operations, PBOC has not conducted RRs today
Further comments by ECB chief economist Peter Praet Well, my view is that the central bank would announce an end to QE either in June or July – and announce that it plans to end it this year, but probably with a caveat that they may re-evaluate it when the time comes or along the…
ECB chief economist Peter Praet comments in Berlin If anything, he’s hinting that the ECB is confident that inflation will move towards its target (and the ECB remains confident on both inflation and the economy) and that there is a chance that the June meeting next week could see an announcement to end QE. overnight
A take on the Reserve Bank of Australia statement yesterday, this via TD: policy statement dropped some redundant phrases More from TD, on GDP coming up soon: