Jiming Huang / Blog
Chinese growth has been helped by credit growth in recent years. Companies' borrowing helped raise debt from 150 percent of the economy to 270 percent of the economy in 10 years. Data suggests that credit growth continues to be important. Off-balance-sheet lending has replaced bank lending...
After the deluge in central bank reporting of recent days, the coming week looks far less busy. The Swedish central bank may decide on a final extension of its asset purchase program on Wednesday, but this should have only a limited impact on the currency...
The ECB meeting did not bring anything new on the table. The European Central Bank has held its rates unchanged and increased its forecast for growth for the next years. In addition, officials believe that the inflation won’t reach the target by 2020...
The Australian dollar extended gains for the fifth consecutive days after the Australian Bureau of Statistics (ABS) released a better-than-expected November job report. Although the unemployment rate held steady at 5...
As expected the Fed ends up its year by increasing rates to the window 1.25% - 1.50%. It is finally the third time in the year that the US Central Bank increases rates...
The Federal Reserve opened the ball yesterday by raising borrowing costs. The central banks’ show will continue today with the SNB, Norges Bank, CBRT and ECB. As widely expected the Swiss National Bank didn’t change anything to its monetary policy set-up...
The SNB is not moving, unwilling to disrupt the markets current narrative. From the SNB vantage point macro and domestic conditions are in a sweet spot for current policy...
After surging across the board yesterday, the US dollar partially reversed gains during the Asian session, with the dollar index returning towards 94 followinga positive surprise in the PPI Index. November’s headline producer prices gauge rose 3.1% year-over-year, beating median forecast of 2...
The USDJPY has been increasing since the last week of November and is now monitoring stronger levels below 114 yen for one single dollar note. The yen is getting weaker but remains way too strong for the Bank of Japan to start normalizing its monetary policy...