Central Banks

Fed's Quarles speaking on bank regulation. No comments on monetary policy

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Fed Quarles speaking in Washington on banking supervision Fed's Quarles is speaking in Washington on banking supervision at the American Bar Association banking Law committee annual meeting.  

NY Fed Nowcast forecast for 4Q growth ticks up to 1.2% from 1.1% last week

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Housing starts, JOLTs job openings and Retail sales contributed to the gain this week The New York Fed Nowcast forecast for 4Q GDP growth has ticked up to 1.2% from 1.1% last week.

Atlanta Fed GDPNow forecast for 4Q GDP growth 1.8% unchanged from last report

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Atlanta Fed GDPNow forecast for January 17, 2020  The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2019 is  on January 17, unchanged from January 16 after rounding. After this morning's housing starts report from the U.S. Census Bureau and industrial production release from the Federal Reserve Board…

Harker: Fed interventions in the repo market are temporary

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Harker in the Q&A The Fed will never say 'no' to Wall Street. They haven't done it in more than a decade. ForexLive

Fed's Harker: I believe inflation nearing 2% target

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Harker comments: The headline is notable because once they arrive at the target, a few hawks are going to break away and start pushing for hikes. Since the Fed is the one driving this market, that's going to be a watershed.

Bank of Korea leaves rates unchanged at 1.25%, as expected

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South Korea's central bank leaving its benchmark rate unchanged. - as unanimously expected. We are beginning to get 'green shoots' in Asia with exports improving in December (data from Singapore, Japan, Taiwan and Korea indicating).

PBOC sets USD/ CNY reference rate for today at 6.8878 (vs. yesterday at 6.8807)

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People's Bank of China  Injects 200bn yuan via 14 day RRs today. For the week injects a total of 900 bn yuan - 600 bn yuan through 14-day reverse repo - 300 bn yuan via MLF loans Bring on the New Year holiday (liquidity provision ahead of this) 

Poll of economists - most of them say ECB should not move from negative rates (you know what to do)

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Reuters poll in 60 economists on the European Central Bank  - 47 of the 60 say Eurozone growth has bottomed out (but won't necessarily bounce much) - 46 of 57 say the ECB should not abandon negative rates in 2020 From the report:

(ICYMI) President Trump to nominate Shelton and Waller to Federal Reserve Board

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It was way back in July last year, so ICYforget too I guess …  The process is moving forward, Trump formally nominating them now, sending to the Senate for approval:

ECB: There are some indications of a mild increase in core inflation

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ECB releases the account of its December monetary policy meeting - There had been solid upward movement in underlying inflation, excl. holiday prices - Data pointing to weak but stabilising growth dynamics ForexLive