Eurobond issuance has been supported by a flurry of global central bank policy easings.
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Yet, the dollar's Fed-driven downside is being tempered by policy easings in other countries.
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Prospects of global easings has sent government bond yields to multi-year low around the world.
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Prospects of global easings have sent government bond yields to multi-year lows around the world.
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Markets have fully priced in a cut by September, and a further two easings by mid-333.45.17.
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The move came as central banks in New Zealand, India and Thailand surprised markets with aggressive easings.
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Markets have fully priced in a cut by September, and a further two easings by mid-2020.
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There then followed 12 successive easings, taking the cash rate to a record low of 1.50 percent.
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Some analysts expect another rate cut in June, although worries around house price inflation may delay any more easings.
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In other words, the monetary easings that followed the collapse of the gold standard amounted to a positive sum game.
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But the move was far smaller than the U.S. Federal Reserve's and the European Central Bank's easings of recent weeks.
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"Comparing reactions to fiscal and monetary policy easings historically, the current response is at the lowest end of the range," he added.
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The Reserve Bank of Australia (RBA) reduced its benchmark cash rate to 1% following back-to-back easings in June and July.
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The Reserve Bank of Australia (RBA) kept rates at a record low 1.5 percent, following easings in August and May last year.
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The Reserve Bank of Australia (RBA) kept rates at a record low of 1.5 percent following easings in August and May last year.
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The RBA cut its cash rate to a record low 0.75% last month following two back-to-back easings in June and July.
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In a further indication of an economic downturn, central banks in New Zealand, India and Thailand surprised markets with aggressive easings on Wednesday.
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The RBA's back-to-back easings in June and July have so far done little to boost activity outside of the housing market.
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European stocks closed higher Thursday, after the U.S. Federal Reserve cut interest rates as expected but signaled a higher threshold to further policy easings.
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The central bank kept rates at a record low of 1.5 percent for an eighth straight month, following easings in August and May last year.
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"We do not believe that the outlook and balance of risks warrants a position of no policy change, nor a position of rapid easings," he said.
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BI has been hoping a series of monetary policy easings last year, including six rate cuts totalling 150 basis points, will boost economic activity this year.
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The Reserve Bank of Australia (RBA) kept rates at a record low of 1.5 percent for a fourth straight month, following easings in August and May.
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The latest spasm began when central banks in New Zealand, India and Thailand surprised markets with aggressive easings, while the Philippines is expected to cut later Thursday.
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Bets for aggressive Fed easings are already off, with the market now pricing a 264.28 basis points easing this month, from 24 basis points prior to payrolls.
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Bets for aggressive Fed easings are already off, with the market now pricing a 216 basis points easing this month, from 264.39 basis points prior to payrolls.
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The net result is that the monetarists authorized three quantitative easings from 2008 to 2012, while the regulatory authorities kept raising the capital requirements of the banks.
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But China stocks are roughly flat, with August inflation data seen as providing few, if any, incentives for fresh monetary easings, and keeping many investors on the sidelines.
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Perceived limits to the extensive monetary easings led by major central banks such as the European Central Bank and the Bank of Japan have soured broader risk sentiment.
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The latest spasm began when central banks in New Zealand, India and Thailand surprised markets with aggressive easings, while the Philippines is expected to cut later on Thursday.
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But it quickly rebounded as investors anticipated easings by other central banks, underlining the challenge of keeping the currency down in a world where negative rates are now commonplace.
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"I would characterize some of the easings (in Asia) as a bit of fine-tuning really and not a major divergence in policy with the West," ING's Carnell said.
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Analysts said the rapid rise in housing values could make the RBNZ cautious about further easings after it slashed rates to a record low 2.25 percent earlier this year.
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The latest spasm began when central banks in New Zealand, India and Thailand surprised markets on Wednesday with aggressive easings, while the Philippines is expected to cut later on Thursday.
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Others, however, argue that policy easings take time to have an impact, often months, and it was only reasonable for central banks to pause to weigh whether they were working.
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It expects the greenback to broadly hold firm in the face of policy easings by other major central banks while Aussie , kiwi and euro are seen on a slippery slope.
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The Reserve Bank of Australia (RBA) has singled out the labour market as the touchstone for whether it needs to cut rates again, after easings in both June and July.
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The changes are aimed at boosting Indonesia's growth to well above 5 percent through the banking sector, where lending growth has remained sluggish this year despite a number of easings.
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Chinese stocks rose modestly on Monday, having rebounded roughly 8% over the past month on expectations of further policy easings, and on news Washington and Beijing have resumed trade negotiations.
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National Australia Bank revised its outlook for interest rate cuts by the country's central bank, predicting at least two more easings to 53% by February from previous forecast of one cut.
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However, such aggressive rate cuts when the stock prices are so close to record peaks would be rare, if not unprecedented, suggesting market expectations of easings may have gone too far.
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Looking forward, we are obliged to deal with a China capable of moving endlessly from one crackdown to another, no longer interrupted by the occasional easings or "Beijing Springs" of the past.
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The U.S. central bank's decision triggered emergency policy easings by counterparts in New Zealand, Japan and South Korea and Australia to help restore confidence as the health crisis threatened a global recession.
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With the global economy showing few signs of rebounding and investors fretting about the limits of major central banks' easings, the BOJ's move came as a welcome relief for risk asset markets.
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Singapore's central bank said recent monetary policy easings will support the economy and boost inflation over the next two years against a backdrop of weakening growth among the city-state's key trading partners.
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Share sentiment was also dampened by U.S. investment bank Morgan Stanley's decision to reduce its exposure to global equities due to misgivings about the ability of policy easings to offset weaker economic data.
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Bank Indonesia (BI), which has been frustrated that banks have not lowered loan rates in line with its moves, said liquidity and consumption have started to improve in the wake of its easings.
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National Australia Bank on Wednesday revised its outlook for interest rate cuts by the country's central bank, predicting at least two more easings to 0.5% by February from previous forecast of one cut.
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Investors are also wagering on policy easings from the Bank of England and Bank of Japan in coming weeks, while few see much chance of the Federal Reserve hiking U.S. rates anytime soon.
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"We believe the median interest rate 'dot' projection will indicate no further easings are expected this year, and that policy rates are expected to be on hold next year as well," he said.
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The Australian dollar was off 0.2% at $0.6884 after the chief economist of Westpac Banking Corp said he expects three central bank rate cuts this year, one more than the market consensus for two easings.
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SYDNEY, Sept 11 (Reuters) - National Australia Bank on Wednesday revised its outlook for interest rate cuts by the country's central bank, predicting at least two more easings to 0.5% by February from previous forecast of one cut.
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Seemingly trying to get ahead of policy easings in the United States and Australia, the Reserve Bank of New Zealand (RBNZ) slashed its official cash rate (OCR) to a record trough of 1% and opened the door to truly drastic action.
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Export orders continued to fall, even as output increased for the first time in six months, backing expectations the Bank of Japan will need to offer more stimulus on top up its already massive easings to revive a sputtering economy.
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While the majority predicted the central bank would keep rates steady until the third quarter of next year, 23 of 45 respondents forecast that it would tighten at least once by December next year, against one who expects two easings.
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The RBNZ stunned markets with a steep 50 basis point cut in August, in an attempt to get ahead of policy easings in the United States and Australia and to prop up below-par growth in New Zealand's $200 billion economy.
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Perceived limits to the extensive monetary easings led by major central banks such as the European Central Bank and the Bank of Japan have also soured broader risk sentiment, driving global debt yields to multi-month highs earlier this week.
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South Korea's central bank kept its benchmark rate steady on Friday, as largely expected, as it assesses the impact of earlier easings amid concerns that rock-bottom interest rates meant to power a recovery could be stoking a property bubble.
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MORE STIMULUS The RBA easings have boosted the housing market with mortgage approvals up 5% in July, the strongest in four years while auction activity in the biggest markets of Sydney and Melbourne has been solid after two years of tepid sales.
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The stock market rebounded and then surged, there was no hyperinflation in response to the Obama deficits and the various monetary easings (quite the reverse), and the much-prophesied debt crisis, in which the United States was supposed to go the way of Greece, never actually arrived.
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"The fastest collapse in asset prices since the Great Depression combined with the swiftest-ever policy easings probably explains why numerous investors are asking when to buy depressed assets, despite little evidence that the COVID-19 pandemic has peaked in all large countries," he wrote in a recent note to clients.
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Djiwandono continues to contribute to public policy debate, especially in Indonesia, by writing articles including op-ed pieces about current economic issues, particularly about matters involving monetary policy.J. Soedradjad Djiwandono,'Quantitative easing and Asia: concerns over new monetary easings', The Jakarta Post, 12 October 2012, and J. Soedradjad Djiwandono, 'Facing the 'new normal', The Jakarta Post, 14 August 2015.
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Another, more classical, form of handrailing which is still in use is the tangent method. A variant of the Cylindric method of layout, it allows for continuous climbing and twisting rails and easings. It was defined from principles set down by architect Peter Nicholson in the 18th century. The earliest spiral staircases appear in Temple A in the Greek colony Selinunte, Sicily, to both sides of the cella.
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