Cryptocurrencies tumbled on Friday following the PBoC’s announcement that it will consider all crypto-related transactions – including services provided by off-shore exchanges – as illicit financial activity. This follows a…
BCA Research’s Foreign Exchange Strategy service expects the Fed’s tapering of asset purchases to be a non-event for the US dollar. While the Fed is still considering tapering asset purchases (and would very likely do so…
Dear client, There will be no weekly bulletin next week. Instead, I will be hosting a webcast, with my colleague, Matt Gertken, titled “Currencies And Geopolitics: A Discussion.” I hope you will tune in so that we can have…
Highlights Global Inflation: Most central banks, led by the Fed, have stuck to the narrative that surging inflation is a temporary phenomenon that will not require an aggressive monetary policy response. However, global supply chain…
The Bank of England kept policy unchanged at its meeting on Thursday. Instead, it revised down its Q3 growth outlook to 2.1% from last month’s 2.9%. However, it highlighted that this revision largely reflects the dampening effect…
The Turkish central bank surprised investors with a 100-basis point rate cut on Thursday, bringing the one-week repo rate down to 18%. The decision comes despite rising inflation. Headline CPI has been steadily climbing since…
As expected, the FOMC did not make any changes to its policy rate or pace of asset purchases at its meeting on Wednesday. However, the Fed sent a strong signal that tapering is on the horizon. The statement indicated that “if…
The Fed’s policy normalization process is likely to produce a slight hawkish surprise. The central bank will probably raise interest rates earlier and faster than current market expectations (see Country Focus). We do not expect…
The performance of global risk assets improved somewhat on Tuesday following Monday’s tumble on the back of concerns about the potential implications of an Evergrande default. Nevertheless, risks remain elevated. A key…
As expected, Sweden’s central bank maintained a dovish tone and kept policy unchanged following its meeting on Tuesday. The Riksbank acknowledged that Swedish inflation surprised to the upside relative to its July forecast. As…