Steen Jakobsen
The Bank of Japan has abandoned quantitative easing and the European Central Bank may taper its bond-buying programme, so what is the role of central banks in 2017, asks Saxo Bank’s chief economist Steen Jakobsen.
Editor’s Picks 31 May 2016 at 2:17 GMT

Asian shares wobble, on track for monthly loss

Asian shares wobbled in early trade on Tuesday and were on track for a monthly loss, while the dollar edged away from recent peaks scaled on heightened expectations the US Federal Reserve will raise interest rates as soon as next month. Underpinning Asian sentiment, European shares hit one-month highs on Monday amid otherwise light trade with markets in London and New York closed for public holidays. "With UK and US markets closed overnight, Asian markets will be looking to Europe for leads today," Angus Nicholson, market analyst at IG, said in a note. MSCI's broadest index of Asia-Pacific shares outside Japan was flat in early trading, ending more than 2% lower for the month. The Nikkei slipped 0.3% after rallying 1.4% in the previous session. It was up 2% for May, getting a tailwind from a weaker yen. Japanese industrial output unexpectedly rose 0.3%in April, suggesting production is holding up despite weak exports. Against the yen, the dollar slipped 0.3% to JPY 110.83.
Read full article at Reuters


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