Currency War Series

Sluggish credit growth defends ECB's action for further easing and even more negative interest rates

Feb 26, 2016 11:11 am UTC| Commentary Central Banks

Euro-zone Monetary Indicators released on Thursday showed that bank lending in the Euro area was not much different compared to the earlier months: growth was positive but still weak. Data showed that euro-zone broad money...

Renminbi Series

Key commentaries from PBoC's Zhou Xiaochuan

Feb 26, 2016 06:48 am UTC| Commentary Central Banks

Peoples Bank of China (PBoC) Governor Zhou Xiaochuan assured investors ahead of G20 finance ministers and central bankers meeting, of the banks ability to manage current crisis and contain excessive volatility in its...

China Crisis Series

Renminbi Series

Three ways China can tackle its currency dilemma

Feb 25, 2016 04:58 am UTC| Insights & Views Central Banks

You might have noticed that the Peoples Bank of China (PBC), Chinas central bank, is in a difficult position. Stability and growth are what the PBC wants. But at least two forces are working against them - the prospect...

Currency War Series

Banxico unlikely to tolerate excessive MXN weakness

Feb 24, 2016 15:43 pm UTC| Commentary Central Banks

Mexicos GDP data for Q4 2015 came in line with expectations at 2.5% y/y. Remarkably, the Q3 data were revised higher to 2.8% y/y and 0.8% m/m, confirming robust Mexican fundamentals . Decent growth and modest inflation...

Bias for USDSGD is still tilted to the upside

Feb 24, 2016 15:04 pm UTC| Commentary Central Banks

Earlier this week, MAS lowered its headline inflation forecast for Singapore for 2016 to -1 to 0% but kept the core CPI outlook unchanged at -0.5 to 0.5%. At its policy meeting scheduled in mid-April the Monetary Authority...

Hungary's Central Bank likely to cut rates from 1.35% to 1% by mid-2016

Feb 24, 2016 14:51 pm UTC| Commentary Central Banks

Hungarys MPC communication was more dovish than expected. Minutes hinted that inflation forecasts will likely be cut in the March Inflation Report, and that policy could be eased further. The central bank noted lower...

Renminbi Series

Changes in China's FX policy reiterate the Central Bank's intention for a more flexible RMB

Feb 24, 2016 11:36 am UTC| Insights & Views Central Banks

Some subtle but notable changes are seen in PBoCs FX policy after Chinas return from the New Year holiday on 15 February. PBoCs daily USD-CNY fixings have been showing larger two-way volatility after a period of stability...