
Dollar’s longs reflecting desperate gains upon Yellen’s move
Dec 14, 2015 12:42 pm UTC| Insights & Views Central Banks
The large majority of price sensitive market participants still seem to be betting on USD longs. However, these only have a reasonable risk reward profile medium term. I doubt that nobody will square their USD-long...

Low CEE inflation supports accommodative monetary policy
Dec 14, 2015 11:44 am UTC| Commentary Central Banks
On 11 December 2015, the Bank of Russia decided to keep the key rate at 11.00 percent per annum, in recognition of growing inflation risks, but the risks of economic cooling remain. The bank estimates annual pace of...

PBoC strikes a chord again – Is Fed likely to discount FX war?
Dec 14, 2015 10:56 am UTC| Insights & Views Central Banks
The focus for this week would be apart from the Fed meeting the main movers this week will be: US CPI (Tuesday) German ZEW (Tuesday) Euro Flash PMI (Wednesday) German Ifo (Thursday). Focus would remain to...
Hungary's MNB says no FX issuance necessary during 2016
Dec 14, 2015 10:13 am UTC| Commentary Central Banks
Hungary MNBs chief economist remarked in a press conference that there was no reason for the government to plan the euro bond issuance in 2016, adding that the government will be able to retire all maturing FX debt using...
Banxico's policy rate likely to reach 4.0pct by end-2016
Dec 14, 2015 09:29 am UTC| Commentary Central Banks
The Banxico committee is schedule to meet on policy rates on 17th December, a day after U.S. Fed meeting. The central bank is expected to hike its bank rates by following the Fed. The Fed rate hike will increase the...

China's policymakers need to ease monetary policy further to support growth
Dec 14, 2015 09:22 am UTC| Commentary Central Banks
Chinese Yuan has slowly dropped against US dollar over last month. Novembers PBoC FX reserve data indicates active intervention to smooth out CNY depreciation pressures. This depreciation bias is expected to persist in...

BoJ likely to stand pat on Friday
Dec 14, 2015 07:48 am UTC| Commentary Central Banks
Divergence is seen between Japans data, soft and hard data in relation to inventories. This gap will remain intact, which reflects the adjustments to the perceptions about inventory levels since the earthquake in Great...