Greece to pay back to ECB today
Aug 20, 2015 07:08 am UTC| Commentary Central Banks
Today is pay day for Greece: the government in Athens will need to transfer 3.2 bn plus interest to the ECB. In addition, the bridge loan of a bit more than 7 bn, which kept Greece afloat for a few weeks until the...
Investors positioned for Fed hikes in FX
Aug 20, 2015 05:41 am UTC| Commentary Central Banks
In terms of positioning, USD longs are still near peak levels with every currency net short versus the dollar currently, suggesting investors are positioned for a Fed hike in FX markets. Barclays expects the Feds rate hike...
September FOMC hike still expected, but risks are higher
Aug 20, 2015 03:35 am UTC| Commentary Central Banks
Data is consistent with the beginning of policy normalization in September. Data on US activity received since the July meeting have been quite positive on balance and should push the FOMC toward near-term lift-off. This...
Minutes of Fed's July 28-29 Meeting
Aug 19, 2015 19:03 pm UTC| Commentary Central Banks
The minutes provided no clues about the Feds preparedness to raise rates as early as the September meeting. Anticipating a clearer signal but getting none, Treasuries rallied and the dollar fell. While September remains on...
ECB to revise macroeconomic outlook in September meeting
Aug 19, 2015 08:09 am UTC| Commentary Central Banks
The July ECB minutes revealed cautious optimism, highlighting the fragility of the economic recovery, the weak inflation outlook and the balance of risks still tilted to the downside (even if these risks have not worsened...
Malaysia bears the brunt of currency weakness
Aug 19, 2015 07:42 am UTC| Commentary Central Banks
Bank Negara Malaysias Governor Zeti has said this week that the ringgits depreciation is manageable, that there is no need for a peg to the dollar, and that the central bank would seek to rebuild FX reserves. Currencies in...
Bank Indonesia likely to keep policy unchanged
Aug 19, 2015 07:39 am UTC| Commentary Central Banks
Despite significant market volatility, central banks elsewhere in Asia have yet to express serious alarm. Indonesia, with inflation running high, the central bank is ever-sensitive to a weaker currency, with Bank...
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