Cerca:
File Icon Versione per stampa
Segnala un amico




Lavoro nel mondo
Lavoro in Italia
08-10-2008

A step in the right direction

To most observers, it seemed the obvious step, yet it took central banks months to co-ordinate their efforts. Equal size cuts mean basically that inflation rates are pretty much the same every where. Taking joint action also protected ECB from admitting its own mistakes. This actions, if not isolated, warn market participants from undue speculation ( such as the one that has struck Aussie dollar this last fews sessions) and set the base for allowing the same method to be applied to interventions by vaious finance ministers.
It remains to be seen if credit will now start floating. One intellgent measure was taken last night by Royal Bank of Australia, by extending repo agreements with banks to six months and one year maturities.
China envolvment was of paramount importance. The country can play a vital role in feeding the system with new means.
Finally, this approach takes away an element of predictability in central banks action, that overtime has created the unpleasant consequernce of market forcing institutions into decisions.

Segnala un amico

Your email address *
Inserisci l'indirizzo email a cui vuoi segnalare *
 


Commenta (0 commenti)

Devi effettuare l'accesso per vedere i commenti

Altri articoli da questa sezione

29-11-2017
Powell conferma aumento dei tassi per dicembre, nuovo capitolo della soap-opera su Brexit e dati di inflazione in area euro (oggi) creano le condizioni per uno scenario opposto a quello dell'anno che si sta per concludere
25-01-2015
At least temporarily
02-02-2014
Indonesia, Turkey and South Korea now looking attractive, yen to weaken again
15-11-2013
Monetary policies elsewhere are far too loose to compete
12-11-2013
Rates on 10 y Treasuries up 25 b.p. in a few sessions