The Bank of England has made its Revolution
After the Federal Reserve, the Bank of England has changed its communication on monetary policy. As the economy was in stagnation or on a low growth path, central banks had…
Le blog de Philippe Waechter
THE ECB Spring: Change in Tone with Strong and Long Term Commitment from the ECB
The main message from Mario Draghi at his press conference was the following “The Governing Council expects the key ECB interest rates to remain at present or lower levels for…
What Profile for the US Monetary Policy?
The Fed strategy can be summarized this way 1 – The Fed sees a lower risk to the economy. Growth forecasts have been revised upwards in 2014. In March GDP growth…
Remarks on the Fed
There is lots of discussion on the Fed’s new strategy that could be presented by Ben Bernanke during his press conference. The preferred scenario seems to be one where the…
China, Euro Area, Bernanke: Elements from the last 24 hours
Growth is not on an upside trend, that’s the conclusion we can have after surveys publications today in China and in the Euro Area. In both regions, activity was shrinking…
Euro Area: A new policy mix that could favor growth
Last week was important may be decisive for the Euro Area. For the first time since the end of 2008, just after Lehman bankruptcy, government policies and monetary policy will…
The Fed does not want to have its hands tied
The Federal Reserve does not want to have its hands tied. That’s probably the main point to keep in mind from its last monetary policy committee meeting (May the 1st).…
United States: Discussions on the Federal Reserve Strategy
For the second time in a row, the minutes of the monetary policy committee meeting of the Federal Reserve really has raised concern. Discussions that are published in this document…