BOC’s Leduc in Quebec – The economy is evolving largely as expected – Q1 machinery imports bode well for investment growth – Developments since April reinforce view that higher interest rates will be warranted to keep inflation near target The point of these speeches is to give the BOC an opportunity to tweak the message…
St Louis Fed president James Bullard speaks in Tokyo Nothing more from Bullard as it would seem. But the comments go in line with what he said earlier in the week .
Professor Jonathan Haskel has been appointed as an external member to the central bank’s nine-strong rate-setting committee Haskel will replace outgoing member Ian McCafferty and will begin his three-year term on 1 September.
People’s Bank of China onshore yuan reference rate PBOC to inject – 90bn yuan through 7 day reverse repos – 60bn 14 dayers – 70bn 28 dayers Net 180bn injection
Powell, Brainard and Quarles spoke at hearing If you’re bored by regulation, you’re not the only one. Brainard is seen here checking out the ceiling while Powell talks.
Comments by SNB vice president Fritz Zurbruegg Now, where have we heard this before? Oh right, Jordan made the two days ago. Pfft. exact same comments
Details of Fed proposals
Beige Book highlights In general, the comments are positive but the note about consumer weakness takes the shine off. Overall, I think the market needs to get back to pricing in a near-certainty of a June Fed hike. It’s currently at 79%.
AUD/JPY test the 100-day moving average Two currencies at the opposite ends of the spectrum today. Data beats and positive risk sentiment is helping lift the aussie, while the latter along with higher US yields is pinning down the yen on the day.
Japan’s finance minister Aso apologises once again over the Moritomo scandal This has died down a little after attention was brought to the media at the start of the year. But yeah, Aso says he’ll take a one-year’s pay cut – voluntarily – after he was implicated in the scandal involving Japan prime minister Abe…