One year MLF (medium term lending facility provides cash to banks) – Adds 403.5bn yuan – rate is at 3.3%, unchanged from the previous 1 year MLF fund injection rate The injection offsets the amount of medium term funds maturing today. I guess my headline should should read maintains liquidity rather than adds, if I’m…
Speaks to reports in London ForexLive
More from Poloz Poloz has fallen in love with his model. ForexLive
Poloz on recent market moves Central bankers love to say they won’t come to the rescue of markets but when the chips are down, they always do. Here’s exactly what he said about the US dollar:
Well, he’s not going to be in charge of the central bank by then – Regional banks could face challenges in the next 5, 10, 15 years as profits dwindle – But BOJ’s current easing policies likely won’t be intact for such a long period of time Much easier to make a statement like that…
A little weaker for the onshore yuan against the USD today Which is a bit surprising given the generally softer USD in overnight trade. But not if you are inclined to view yuan weakening as a China policy choice.
The Reserve Bank of Australia November monetary policy announcement is due at 0330 GMT No change in the cash rate is the unanimous expectation – Eyes will be on Governor’ Lowe’s accompanying statement Later this week (Friday Asia time) the bank will publish its Statement on Monetary Policy, which will have updated forecasts. It is more…
ECB sources ForexLive
Euro sinks The ECB said discussions on the matter will take place at the December meeting. The question here is the timeline. Is this about TLTROs expiring in 18 months or something they want to do sooner?
ECB sources cited by Reuters – One source says TLTRO would help banks avoid ‘cliff edge’ in 2020 – Another sources says TLTRO only needed if policy transmission mechanism hampered