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Search resuls for: "Sweden's Riksbank"


8 mentions found


☆ BlackRock says it's time to 'shun most stocks' with markets underestimating the risk of a Fed-induced recession
  + stars: | 2022-09-27 | by ( George Glover | ) www.businessinsider.com   time to read: +3 min
The Fed and other central banks have underestimated the severity of the recession that their rate hikes could trigger, the asset manager said. But Boivin's team said that the Fed's cheerful economic projections overestimate the likelihood of a soft landing. "This soft landing doesn't add up to us," Boivin's team said. The global "rate-hike blitz" suggests that other central bankers share the Fed's optimistic outlook, according to Boivin's team. BlackRock warned that aggressive overtightening could trigger a downturn before inflation has cooled sufficiently, leaving central banks torn between raising and slashing rates.
☆ Take Five: Intervention watch is here
  + stars: | 2022-09-23 | by ( ) www.reuters.com   time to read: +5 min
Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. Election results from Italy, euro area inflation numbers and U.S. and Chinese data also give investors plenty to chew over. Japan's authorities finally had enough of a weak yen and intervened to stem a sharp decline against the dollar. Investors have already ramped up expectations for another 75 bps, ECB rate hike in October, so the data shouldn't change the near-term rate outlook. How a new government navigates an energy crunch that is pushing highly-indebted Italy into recession will also be under scrutiny.
☆ Analysis: Race to rein in strong dollar is on after Japan intervenes
  + stars: | 2022-09-22 | by ( Tommy Wilkes Nell Mackenzie | Tommy Wilkes | Nell Mackenzie | ) www.reuters.com   time to read: +5 min
Few think another G7 central bank would be bold enough to intervene directly as Japan did on Thursday. But they say markets should prepare for more verbal intervention and more aggressive rate hikes as policymakers try to thwart the U.S. currency's ascent. The dollar surge follows aggressive Federal Reserve interest rate hikes, recession fears and geopolitical uncertainty following Russia's invasion of Ukraine. The yen, its central bank sticking to ultra-loose policy even as others raise rates, has been the biggest loser. Richard Benson, co-chief investment officer at Millennium Global Investments, said aside from the SNB, which intervenes regularly, another central bank intervention was unlikely.
☆ Dollar ascendant as investors gear up for Fed
  + stars: | 2022-09-21 | by ( ) www.cnbc.com   time to read: +3 min
The dollar hovered near a two-decade peak against a basket of currencies on Wednesday, after yields on U.S. Treasurys leaped ahead of an interest rate decision. Higher yields increase the attraction of owning Treasuries and the dollars with which to buy them. Focus will also be on the updated economic projections and dot plot estimates for where Fed officials see interest rates heading themselves. The kiwi gained 0.14% to $0.5902, after falling 1% in the previous session and touching a more than two-year low of $0.5887. The Canadian dollar fell to a two-year low overnight after official data showed a surprise slowdown in inflation.
☆ Asian stocks sink, yields rise as markets brace for aggressive Fed
  + stars: | 2022-09-21 | by ( Kevin Buckland | ) www.reuters.com   time to read: +4 min
Register now for FREE unlimited access to Reuters.com RegisterMSCI's broadest index of Asia-Pacific shares (.MIAP00000PUS) lost 1%. Sweden's Riksbank surprised markets overnight with a full percentage-point hike, and warned of more to come over the next six months. Markets are pricing in an 81% chance of another 75-basis-point increase, and see a 19% probability of a full percentage point rise. The Bank offered to buy 250 billion yen of bonds in an unscheduled operation on Wednesday to keep yields in check. Meanwhile, crude oil continued its decline amid worries that aggressive tightening by the Fed and other central banks would crimp growth and curb demand.
☆ Bank of England faces pivotal policy decision with pound at multi-decade lows
  + stars: | 2022-09-21 | by ( Elliot Smith | ) www.cnbc.com   time to read: +5 min
Bank of England Governor Andrew Bailey has reiterated his commitment to reining in inflation, but the Bank faces a difficult balancing act as growth slows and the labor market tightens. On Tuesday, Sweden's Riksbank hiked interest rates by 100 basis points, warning that inflation was "undermining households' purchasing power." The U.S. Federal Reserve is expected on Wednesday to lift its benchmark borrowing rate by 75 basis points, the third consecutive hike of that magnitude. Meanwhile the European Central Bank earlier this month announced a 75 basis point increase to its benchmark deposit rate. It would really be quite a tone deaf performance from the Bank of England if they don't go for 75 basis points at this week's meeting."
☆ Sweden's central bank launches 100 basis point rate hike, says 'inflation is too high'
  + stars: | 2022-09-20 | by ( Elliot Smith | ) www.cnbc.com   time to read: +2 min
Sweden's Riksbank launched a 100 basis point hike to interest rates on Tuesday as it looks to rein in inflation. Sweden's Riksbank on Tuesday launched a 100 basis point hike to interest rates, taking its main policy rate to 1.75%, as it warned that "inflation is too high." In a statement, the central bank said soaring inflation was "undermining households' purchasing power and making it more difficult for both companies and households to plan their finances." The sharp hike comes as the U.S. Federal Reserve begins its two-day monetary policy meeting, with markets broadly expecting a 75 basis point increase as policymakers strive to get soaring prices under control. "The development of inflation going forward is still difficult to assess and the Riksbank will adapt monetary policy as necessary to ensure that inflation is brought back to the target," it said.
☆ Morning Bid: Plus fours
  + stars: | 2022-09-20 | by ( ) www.reuters.com   time to read: +5 min
The last time Fed policy rates spent two years above 4% was 2005-2007, in the lead up to the banking crash of 2008. In what bond markets call "bear flattening", yields right out the maturity curve also rose, but by less than the 2-year. read moreAll will have Monday's advice from their umbrella grouping the Bank for International Settlements ringing in their ears. The Bank of Japan will likely hold the line on its easy policy again this week. read moreThe dollar's index was firmer on Tuesday going into the Fed meeting - less than 1% from this month's 20-year high.
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