BOE SUGGESTS UK BANKS BETTER PREPARED FOR SUB-ZERO RATES THAN IN 2009
By Laurie Laird LONDON (MaceNews) – British banks are are sufficiently capitalised to continue lending even if official rates eventually fall below zero, according to two Bank of England rate setters Friday. Negative rates are most effective “when banks’ balance sheets are not under pressure for other reasons,” as was the case during the financial […]
STATUS CHECK – STILL COUNTING, FUMING AND SUING
WASHINGTON (MaceNews) – The following is Thursday’s status check of developments in the U.S. that can influence economic, health and political outcomes. Peace, harmony and finally a resolution to a hard-fought campaign? Of course not. This is 2020. Thursday night and key states still too close to call, with Joe Biden’s lead in Arizona diminishing […]
FED’S POWELL ACKNOWLEDGES SLOWDOWN, NEED FOR STIMULUS
By Denny Gulino WASHINGTON (MaceNews) – Federal Reserve Chair Jay Powell was as low key as possible in answering questions about the latest policy meeting as vote counts are deciding the next president but he did drop a hint that the asset purchase program may be in for some innovation. “The recent rise in new […]
FOMC POLICY STATEMENT AS IS
WASHINGTON (MaceNews) – The following is the Federal Open Market Committee policy statement issued Thursday, which added nothing to the previous stand-still statement: The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals. The COVID-19 […]
ECB RATE SETTER SEES VALUE IN A SYMMETRICAL INFLATION TARGET
— Bundesbank’s Weidmann refuses to rule out further ECB rate cuts By Laurie Laird LONDON (MaceNews) – A key European Central Bank official Thursday expressed support for symmetrical inflation targeting, and suggested that the Bank could cut rates further into negative territory to lift stubbornly-low Eurozone inflation back to target. A “make-up” strategy that allows […]
BANK OF ENGLAND EXPANDS QE PROGRAMME; LEAVES RATES UNCHANGED
— Forecasts Q4 GDP Contraction Raises Speculation Negative Rates in 2021 By Laurie Laird LONDON (MaceNews) – The Bank of England Thursday expanded its bond-buying programme but left its benchmark interest rate unchanged at its latest policy meeting, acknowledging the downside risks to forecasts as a second wave of coronavirus grips the country. The Bank […]
STATUS CHECK – FROM THE SEAT OF POWER, POWERLESSNESS AS VOTES TOTALED
WASHINGTON (MaceNews) – The following is Wednesday’s status check of developments in the U.S. that can influence economic, health and political outcomes. The networks plodded on Wednesday night, with nothing much new to report, as talking heads artfully kept the ball rolling, even if it was in circles, waiting. President Trump was watching, likely clicking […]
STATUS CHECK – ‘WE’RE GOING TO WIN’ THEY BOTH SAID
WASHINGTON (MaceNews) – The following is Tuesday’s status check of developments in the U.S. that can influence economic, health and political outcomes. · The election is far from decided at this midnight hour but it’s clear the blue wave was a fantasy, that the race turned out to be very tight with most states that […]
EUROZONE OCTOBER MANUFACTURING PMIS HIT TWO-YEAR HIGH
–Germany Accounts For Much Of Rise By Laurie Laird LONDON (MaceNews) — Business activity at European factories accelerated to a more than two-year high in October, according to purchasing managers’ indexes released by IHS Markit on Monday, confirming the European Central Bank’s forecast of continuing industrial strength. The Eurozone manufacturing PMI jumped to 54.8 last […]
STATUS CHECK COMMENTARY – COMING UP, CATHARSIS, HEALING?
WASHINGTON (MaceNews) – The following is Friday’s status check of developments in the U.S. that can influence economic, health and political outcomes. · Saturday makes it three days. Three days until catharsis, healing and finally a truce in the culture wars. You could see it on Fox News, where Sean Hannity was mellowing, praising candidate […]