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 12 September 2016 at 23:32 GMT

Aussie hasn’t fallen as far as RBA expected post-boom, says Kent

The Australian dollar failed to depreciate by as much as the central bank expected in response to weaker commodity prices and a record-low interest rate, Assistant Governor Christopher Kent said, citing very easy and unconventional policies elsewhere in the world. “The exchange rate -- the real trade weighted index, or real TWI -- has not depreciated by quite as much as might have been expected in response to the actual decline in the terms of trade and the reductions in domestic interest rates,” Kent said in a speech at a Bloomberg business breakfast in Sydney. “At least in part, this reflects lower-than-expected global growth and inflation, which has led to a prolonged period of very low interest rates and unconventional monetary policies in the major economies.”
Read full article at Bloomberg


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