Jens Weidmann
Commentary: Weidmann ECB chances rising again
By David Marsh in London
The rising probability of a comparatively ‘soft’ British departure from the European Union has added to the chances that Jens Weidmann, Bundesbank president, could after all become head of the European Central Bank when Mario Draghi steps down at end-October. Even if politics – especially the aim of reaching EU-wide balance (following UK departure) in the 2019 distribution of five top posts – are increasing...
HIGHLIGHTS
WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS:In FX markets, the DXY index extended recent losses with the EUR/USD hitting a near three-month peak of 1.1570 earlier today following the release of the minutes from the December FOMC policy meeting. The minutes revealed that many policymakers shared the view that the Committee could be patient about future US monetary policy tightening, echoing dovish rhetoric by a number of Fed officials in the period after the December policy...
HIGHLIGHTS
WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS:In line with market expectations, the ECB decided at yesterday’s monetary policy meeting that net purchases under the asset purchase programme (APP) will cease at the end of this month. In the press conference that followed, the overall ECB assessment on growth was more dovish compared to that adopted in the prior meeting, mainly expressed through the risk assessment. Contrasting with the prospect of another Fed rate hike at next...
Podcast: Ahead of the ECB
Expected end of QE and implications for markets
Marcin Stepan, deputy head of meetings at OMFIF, is joined by Francesco Papadia, fellow at Bruegel and former director general for market operations at the European Central Bank, and Alexander Petrov, assistant vice-president of policy and research in the official institutions group of State Street Global Advisors. They discuss the potential outcomes of the December 2018 ECB monetary policy meeting being held tomorrow in...
Vítor Constâncio, vice-president of the European Central Bank
City Lecture with Vítor Constâncio
Wednesday 23 January, 10:30
London
A city lecture with Vítor Constâncio, vice-president of the European Central Bank who served from June 2010-May 2018.
The lecture focuses on the developments in the euro area and the necessary steps needed to strengthen and reinforce the European monetary union framework.
Register to attend
Global financial stability
Thursday 24 January, 11:00
Tobias Adrian
New York
More...
http://www.allaboutshipping.co.uk/2018/12/04/european-central-bank-imf-and-political-risk-podcast/
Commentary: Post-Brexit UK will find no sympathy
By Joergen Oerstroem Moeller in Singapore
Regardless of whether it endures in its current form or is amended in the coming weeks, Theresa May’s Brexit deal with the EU opens the door to further contentious negotiations. The first involves expanding on the political declaration on future UK-EU trade relations. After Brexit, one can assume ratification of a UK-EU trade agreement will be far from imminent. The second concerns the World Trade...
UK PM Theresa May
Commentary: Five options if UK rejects May deal
By Charles Grant in London
UK Prime Minister Theresa May has clinched her deal with the European Union and persuaded most of her cabinet to support it. But after EU leaders sign off the deal at a summit on 25 November, May has promised the House of Commons a ‘meaningful vote’; it is hard to see how she can win it. However, even if May falls, the arrival of a new Conservative party leader would not change the parliamentary arithmetic...
Commentary: ECB ponders reinvestment options
By David Marsh and Ben Robinson in London
The pernicious politics of Europe’s quantitative easing reflect the innate complications of carrying out unified monetary operations across a disparate 19-country region. These realities will overshadow the intricate technicalities of QE reinvestment next year.
The ECB is ending net asset purchases because of the improved euro area economy – but the fruits of the recovery are unevenly spread. Italian and Greek...
Commentary: ECB faces QE dilemma
By Marchel Alexandrovich in London
While Italy continues to dominate the headlines, the European Central Bank is more interested in the big picture: the continuing economic recovery, building inflationary pressure, the end of quantitative easing and guiding interest rate expectations. As its bond-buying programme starts to wind down, the ECB is increasingly relying on the flow from QE reinvestments to make its presence felt in the markets. The uneven nature of...