Swiss National Bank broke a myth: that central bankers keep their old given words ; come what may. They go back on words when they see an avalanche likely.
Coming events cast their shadows ahead and fear of ECB QE prompted the Swiss to break free.
Japan is still struggling with its combat of deflation. Bank of Japan had to agree that deflation is as yet to be hounded out by Abenomics. The dependence on low oil prices to be a substitute element for stimulus (also advocated by the Bundesbank) is a reflection of their fatigue.
There was unanimity in the Bank of England that rates should not be raised.
Despite its affirmations to the contrary, Denmark will find it difficult to retain the peg to Euro. The market will try to break open the vaults. The Danish crown might appreciate to levels which might hurt the exports of the country, already affected by Russian events.
Desperate at falling prices, Iran cried out that oil may touch $25. IMF has projected a 0.3 percent fall in global growth. Yet there is 'cognitive dissonance' from German central bankers on ECB's stimulus.
Good for Europe is a good fall in the euro. The boast of an anchor currency is meaningless if the markets are stalled and economies are jammed. The Italians have started restructuring their banking system but then it took them so long...
Coming events cast their shadows ahead and fear of ECB QE prompted the Swiss to break free.
Japan is still struggling with its combat of deflation. Bank of Japan had to agree that deflation is as yet to be hounded out by Abenomics. The dependence on low oil prices to be a substitute element for stimulus (also advocated by the Bundesbank) is a reflection of their fatigue.
There was unanimity in the Bank of England that rates should not be raised.
Despite its affirmations to the contrary, Denmark will find it difficult to retain the peg to Euro. The market will try to break open the vaults. The Danish crown might appreciate to levels which might hurt the exports of the country, already affected by Russian events.
Desperate at falling prices, Iran cried out that oil may touch $25. IMF has projected a 0.3 percent fall in global growth. Yet there is 'cognitive dissonance' from German central bankers on ECB's stimulus.
Good for Europe is a good fall in the euro. The boast of an anchor currency is meaningless if the markets are stalled and economies are jammed. The Italians have started restructuring their banking system but then it took them so long...
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