TEST FROM BANK OF CANADA, PLEASE IGNORE

MNI BRIEF: US Existing Home Sales Fall 5.4% To 3.89M In June

MNI BRIEF: China Wants U.S. Firms To Deepen Investment

MNI China Daily Summary: Tuesday, July 23

MNI: PBOC Net Drains CNY408.7 Bln Via OMO Tues

MNI: PBOC Sets Yuan Parity Lower At 7.1334 Tues; -1.30% Y/Y

MNI: UK APR-JUN MEDIAN PAY AWARDS +4.9% :Brightmine

US Treasury Auction Calendar

BoC Data Watch

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Lane Says Won't Front-Run Policy Decisions

ECB
  • Whatever future rate decisions take into account, there's a multitude of factors to consider. Negative rates are different, but would disagree with theory that rate hikes come with diminishing returns. We've noted more and more corporate (and household) deposits are paying negative rates. As such NIRP is more effective now than in the past.
  • On APP/taper, Lane says I'm not going to front-run decisions, repeats previously cited three different inflation regimes, response will depend on which outcome comes to fruition.
  • On owner-occupied housing, Lane says he thinks owner-occupied housing costs are/were underweighted in cost indices. Housing costs heavily impacted by commodities, energy shock. ECB have clear vision of cost index that incorporates this. We know this measure will show higher inflation, but difficult question to know whether forward looking inflation horizon will be nudged by this.
EM BulletHomepagemarkets-real-timeFixed Income BulletsBulletMarketsEmerging Market NewsForeign Exchange BulletsEuropean Central Bank (ECB) Market News
EM BulletHomepagemarkets-real-timeFixed Income BulletsBulletMarketsEmerging Market NewsForeign Exchange BulletsEuropean Central Bank (ECB) Market News

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.