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Tag Archives: central bank
Sweden Central Joins The NIRP Club: Lowers Interest Rate To -0.1%, Launches QE
Sweden Central Joins The NIRP Club: Lowers Interest Rate To -0.1%, Launches QE It’s a NIRP world and you are either in it, or are determined to lose the currency wars. And hours ago, the world’s oldest central bank, that of Sweden, announced that it too would join its NIRP peers in an attempt to […]
ECB Pulls The Trigger: Blocks Funding To Greece Via Debt Collateral – Full Statement
ECB Pulls The Trigger: Blocks Funding To Greece Via Debt Collateral – Full Statement Just what the market had hoped would not happen… *ECB SAYS IT LIFTS WAIVER ON GREEK GOVERNMENT DEBT AS COLLATERAL *ECB SAYS IT CAN’T ASSUME SUCCESSFUL CONCLUSION OF GREECE REVIEW What this means simply is that since Greek banks are now […]
Is Canada Headed For Another Recession? Eight Troubling Signs
Is Canada Headed For Another Recession? Eight Troubling Signs A string of dire economic news since the beginning of 2015 has many observers worried about whether Canada could be on the brink of another downturn, but economists say it’s too soon to mention the “R-word.” One month in, layoffs seem to be the dominant theme […]
Australian dollar skids to six-year low after RBA shock
Australian dollar skids to six-year low after RBA shock (Reuters) – The Australian and New Zealand dollars weakened further in early trade in Europe on Tuesday after a sell-off following the Reserve Bank of Australia’s surprise decision to cut interest rates. The outlook for both Antipodean currencies has worsened in recent weeks with concerns about growth generating […]
Canada GDP shrinks, stirring talk of another rate cut
Canada GDP shrinks, stirring talk of another rate cut OTTAWA (Reuters) – Canada’s economy unexpectedly shrank by 0.2 percent in November, prompting market talk that the Bank of Canada will cut interest rates in March for the second time in six weeks. Analysts had expected no growth from October. The month-on-month decline was the largest since […]
Australian dollar plunges as rate cut bets rise, commodity prices sink
Australian dollar plunges as rate cut bets rise, commodity prices sink The Australian dollar plunged again overnight, as falling commodity prices dragged it to a fresh five-and-a-half-year low. The local currency fell as low as 77.17 US cents, as a combination of strong US data boosting the greenback and falling commodity prices hurting resources exporters, […]
Freedom, Where Are You? Not in America or Europe
Freedom, Where Are You? Not in America or Europe When the former Goldman Sachs executive who runs the European Central Bank (ECB) announced that he was going to print 720 billion euros annually with which to purchase bad debts from the politically connected big banks, the euro sank and the stock market and Swiss france shot […]
Kuroda Says BOJ to Mull Fresh Options in Case of More Easing
Kuroda Says BOJ to Mull Fresh Options in Case of More Easing Bank of Japan Governor Haruhiko Kuroda signaled the central bank may need to look at fresh options if more stimulus is needed to propel inflation to levels unseen since stagnation set in two decades ago. “If, really, our possible path to 2 percent inflation […]
How Do You Unmanipulate a Manipulated Economy?
How Do You Unmanipulate a Manipulated Economy? Breaking the stranglehold of vested interests is the essential step to rebuilding an economy that isn’t totally dependent on manipulated money and statistics. The word manipulated has the sour taste of officially sanctioned distortion in service of an Elite’s interests. At a minimum, manipulation smacks of intent to defraud. If there is no intent […]
Russia Abandons PetroDollar By Opening Reserve Fund
Russia Abandons PetroDollar By Opening Reserve Fund 2015 has not been good to Russia; the spread between Brent and WTI is gone in anticipation of US exports and both benchmarks have flirted with sub $45 prices. A hostage to such prices, the ruble has yet to begin its turnaround and the state’s finances are in […]
Turkey’s Central Bank Raises Ratio for FX Reserve Requirements – Bloomberg
Turkey’s Central Bank Raises Ratio for FX Reserve Requirements – Bloomberg. Turkey’s central bank increased the foreign-currency reserve ratios required of banks and financing companies, after a month in which the lira was among the world’s worst-performing emerging-markets currencies. The revision announced today is intended to make sure institutions can meet foreign-exchange liabilities. It would […]
Turkmenistan Devalues Currency By 18%, Armstrong Warns Of “Economic Collapse On A Global Scale”
Turkmenistan Devalues Currency By 18%, Armstrong Warns Of “Economic Collapse On A Global Scale” The energy-rich former Soviet republic of Turkmenistan Thursday devalued its currency against the US dollar by 18%, as AFP notes, in the latest sign of contagion among Russia’s neighbors from the plunging ruble (following Krgyzstan’s 17% plunge in 2014 and Kazakhstan’s 14% tumble). However, […]
Nigerians ‘Crying for Money’ as Naira, Boko Haram Hit Trade – Bloomberg
Nigerians ‘Crying for Money’ as Naira, Boko Haram Hit Trade – Bloomberg. At one of Nigeria’s busiest markets, Ndubuisi Benjamin Nweke complains about the toughest business environmentAfrica’s biggest economy has faced in years. “Customers are not coming the way they’re supposed to,” said the 46-year-old, whose trade in Chinese-made fabrics at the Idumota market in […]
Ukraine Central Bank Conned Into Swapping Its Gold For Lead Bricks | Zero Hedge
Ukraine Central Bank Conned Into Swapping Its Gold For Lead Bricks | Zero Hedge. Just when one thought the story of Ukraine and its (now non-existant) gold could not get any more surreal, it did. As a reminder, it was about a month ago when we learned courtesy of an interview on Ukraine TV with the country’s […]
BBC News – Belarus imposes duty on foreign currency purchases
BBC News – Belarus imposes duty on foreign currency purchases. Belarus’s central bank has introduced a 30% duty on all purchases of foreign currency to try to protect its rouble. Belarusian exporters will also be required to convert more of their overseas earnings into local currency. The country is feeling the effects of the fall […]
