Forex News
China PBOC Cuts Net Drain For 3rd Week, Even As Rates Low
The People’s Bank of China cut the volume of funds it removed from the interbank market for the third week, even as interbank market rates continue to bump along low levels not seen in well over a year.
Employment spike in February surprises markets
The notoriously volatile labour force series reported a 47.3K bounce in employment over February. The outcome was wellabove market expectations of a 15K rise (CBA (f): 6K).
RBNZ Raises OCR 25 bps to 2.75%, More Hikes Depend on Response
Reserve Bank of New Zealand Thursday raised the official cash rate by 25 basis points to 2.75% for the first time since March 2011,
Japan MOF: Q1 Biz Sentiment Record High, Tax Hike To Hit Q2
The results of the quarterly Business Outlook Survey by the Ministry of Finance and Cabinet Office conducted on Feb. 15 and released Wednesday.
Housing Finance – January 2014, Consumer Sentiment – March 2014
Total housing-related lending increased modestly over January following a downwardly revised fall in December. Thenumber of loans (excl. refinancing) recorded a small rise while the value of loans to investors fell by 3.3%.
BOJ Keeps Policy Target; Sees Weaker Exports, Higher Capex
The Bank of Japan said Tuesday that its board, as widely expected, decided by a unanimous vote to leave the bank’s policy target unchanged while noting weaker exports and slightly higher business investment and factory output.
Demand & house prices
We have always thought that targeting residential construction as part ofthe growth transition as mining capex rolls off was smart policy. It’ssmart because we know how to get housing activity moving.
NAB Business Survey – February 2014
Is the recent recovery short lived? One or two steps forward, now a step back. The NAB Business Conditions index disappointingly back-pedalled sharply in February to
IMF Chief Economist: Eurozone Deflation Risk Is Real
The International Monetary Fund’s chief economist, Olivier Blanchard, said the Eurozone faces a real risk of deflation, according to excerpts of an interview with German daily Handelsblatt released Monday.
Fed Evans: Fed Must Take Balanced, Symmetric Approach, Know Limits
Chicago Federal Reserve Bank President Charles Evans said Monday that the Fed needs to take a “balanced” and “symmetrical” approach to making monetary policy, while recognizing its “limitations.”
Fed Dudley: Mkts ‘Reasonable’ to Expect Mid-2015 FFR Rise
New York Federal Reserve Bank President William Dudley said Friday that financial markets are “reasonable” in anticipating a rise in the Federal Funds Rate will not occur before mid-2015.
US: jobs growth stronger than expected despite bad weather
Today’s stronger-than-expected payrolls data are a very positive sign because the details even suggest that the unusually cold weather was an important drag on February’s jobs growth.