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Thursday, 09 June 2016
News

Draghi urges governments to play part in boosting growth and inflation

The Wall Street Journal reported that European Central Bank President Mario Draghi urged European governments to play their part in boosting growth and inflation in the region, warning that a lack of economic reforms is making the ECB’s job harder. “If other policies are not aligned with monetary policy, inflation risks returning to our objective at a slower pace,” Mr. Draghi said in a speech to policy makers in Brussels.
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Thursday, 02 June 2016
News

ECB left interest rates unchanged

As it was widely expected ECB left interest rates unchanged at today's meeting in Vienna. ECB left its headline interest rate at record low of zero. The bank held the deposit rate at -0.4% and the marginal lending facility at -0.25% at its monetary policy meeting. The ECB revised its inflation forecast for 2016 up to 0.2% from 0.1% before, but kept its inflation forecasts for 2017 and 2018 at 1.3% and 1.6% respectively. Draghi warned that inflation in the euro area is likely to remain very low, or negative, for some time.
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Friday, 27 May 2016
News

Aussie steady in a quiet Friday trade

There were no data releases from Australia this morning. Aussie was in decline in the past few weeks. The initial drop was accelerated after a surprisingly low Australian inflation (CPI) reading was released near the end of April and then was followed up in early May by a Reserve Bank of Australia interest rate cut to a record low 1.75%. Subsequently, the central bank lowered inflation forecasts and hinted at further potential rate cuts.
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Tuesday, 24 May 2016
News

RBA Stevens said low inflation does not demand knee-jerk reaction

This morning RBA Governor Stevens was speaking at the Trans-Tasman Business Circle boardroom briefing. He said that he suspects there is quite some years of fiscal repair work for the government in the period ahead. It is true that inflation is very low, technically it is below RBA announced target, however medium term inflation targetting is not rigid and does not demand knee-jerk reaction from RBA. 
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