"In a normalisation process you want normalisation process to be orderly... so you must maintain a strong grip on short term rates," Praet said.
|
|
We think that the ECB will keep its policy normalisation stable.
|
|
Porsche expects a normalisation by end of August at the latest.
|
|
FIFA, the global governing body, established a "normalisation committee" to propose reforms.
|
|
Instead of rapid normalisation, a permanent state of emergency has been implemented.
|
|
S. trade tensions and continued policy normalisation by the U.S. Federal Reserve.
|
|
May's spokesman said the meeting did not represent a normalisation of ties.
|
|
Some members of his transition team are fierce opponents of the normalisation policy.
|
|
Hamas deemed this a step too far and "normalisation with the Zionist enemy".
|
|
The normalisation owes a lot to the overhaul of the China Drug Administration (CDA).
|
|
As a colleague has written, this reflects a certain normalisation of American foreign policy.
|
|
In 2013 the UN special rapporteur on torture condemned gender-normalisation surgery for children.
|
|
The normalisation of a woman's participation in sport is hugely significant in this context.
|
|
But the normalisation of ties with the communist island is now seen as "inevitable".
|
|
While security risks remain elevated, maintaining stability would contribute to a normalisation in economic conditions.
|
|
But he hasn't said he will sacrifice policy normalisation for the sake of financial markets.
|
|
"The ongoing economic recovery now raises the prospect of a monetary policy normalisation," Weidmann said.
|
|
China is well prepared for global monetary policy normalisation, said Yi, who was speaking in English.
|
|
Also, supplier Prevent said it hopes for a normalisation of relations with Volkswagen, according to Handelsblatt.
|
|
Even more remarkable than the mainstreaming of extremists is the normalisation of a no-deal Brexit.
|
|
WACKER NEUSON OUR LOGISTICS TROUBLES IN CHINA HAVE RECOVERED QUICKLY, WE ARE SEEING QUICK NORMALISATION THERE
|
|
Vietnam's normalisation of relations came in 1995, just two decades after the two countries ended their war.
|
|
This normalisation of sexting on Snapchat has led to a whole host of not-so-great consequences.
|
|
"We sense that the CBT postponed its monetary policy normalisation/simplification further with this decision," Altug said.
|
|
Islamists and Palestinians chide signs of normalisation; those further away long for a release from past shackles.
|
|
Despite speculation about normalisation of monetary policy, Aso urged the central bank to continue its monetary stimulus.
|
|
The analysts said the NBH might signal an easier policy stance in its statement, abandoning policy normalisation.
|
|
"Expectations were that the ECB will be willing to hasten policy normalisation," Yamamoto at Mizuho Securities said.
|
|
"The journey to monetary policy normalisation is still young," he told an audience at the University of London.
|
|
But raising rates would squash the recovery, and with it any chance of a normalisation of monetary policy.
|
|
A Reuters report last July that policy normalisation was under discussion sent Japanese stock indexes into a tailspin.
|
|
Once the arrears are cleared, the IMF's executive board would need to approve the normalisation of relations with Zimbabwe.
|
|
Survey respondents also expressed rising concerns about the impact on credit markets of the eventual normalisation of monetary policy.
|
|
Earlier this month, the ECB gave up its bias for more rate cuts in a small step towards normalisation.
|
|
The yen appreciated significantly against the dollar as some interpreted the BOJ's move as a step towards eventual policy normalisation.
|
|
"A gradual pace of monetary policy normalisation is justified," Finnish central bank chief Olli Rehn said in Indonesia on Thursday.
|
|
Investors are worried that the market turbulence caused by Turkey's economic meltdown might delay the ECB's normalisation timetable, she said.
|
|
First you have got the change in direction of policy by the Federal Reserve Bank, the normalisation of its policies.
|
|
But with public opinion increasingly backing the rapprochement, any ideas about turning back the normalisation might have to be shelved.
|
|
Such normalisation was nicely summarised in "The Post-American World", by Fareed Zakaria, an Indian-born American journalist, in 2008.
|
|
Erdogan called the killing a clear provocation aimed at damaging relations between Turkey and Russia at a time of normalisation.
|
|
The idea that eventually the natural processes of the economy will support "lift off" and "normalisation" is wrong, he thinks.
|
|
"The National Bank of Hungary is in a normalisation phase, while also preserving the character stemming from its (mandate)," Matolcsy said.
|
|
"We need to closely monitor how the normalisation of interest rates in major economies will impact global capital markets," said Zhu.
|
|
It contributes to the lessening of stigma and the normalisation of discussing mental health: here's hoping that others follow their lead.
|
|
"We believe that valuations were too tight, and the latest market correction could reflect a normalisation," Lucror's analysts wrote in the note.
|
|
But that message could be tweaked once conditions allow for an increase, the sources say, making it a tool for policy normalisation.
|
|
Chad Olin, president of U.S. Tour operator Cuba Candela, set up his business to facilitate U.S. tourists under President Obama's normalisation programme.
|
|
Praet's comments add to the argument for more extensive guidance, to ensure that investors continue to price only very slow policy normalisation.
|
|
However, although political normalisation since 2011 has contributed to better governance indicators, other structural and development indicators, while also improving, remain weak.
|
|
"You have to be very careful when people start talking about regime change or normalisation," Praet told a business conference in Frankfurt.
|
|
Some of the optimism of the market in seeing a normalisation of international relations between Western countries and Russia has started to evaporate.
|
|
"Expectations were that the ECB will be willing to hasten policy normalisation," said Masafumi Yamamoto, chief forex strategist at Mizuho Securities in Tokyo.
|
|
"If the economy evolves as we now expect, this is the beginning of a gradual normalisation of the interest rate level," Olsen said.
|
|
That uncertainty could result in more stock market volatility as investors worry that the Fed may move too far in its normalisation campaign.
|
|
Indonesia's resilience has improved, but external challenges remain, including potential emerging market pressure in the context of the US Federal Reserve's policy normalisation.
|
|
The bank reiterated that it was prepared for a "gradual and cautious" normalisation of its monetary policy depending on the outlook for inflation.
|
|
"The timing and rate of monetary policy normalisation depends on the extent to which price rises are sustainable and self-sustaining," Weidmann added.
|
|
For Friends With Books, Berlin-based indie publishers Broken Dimanche Press will be selling 'No Normalisation' T-shirts by the artist Raquel Macartney.
|
|
Presidential elections in 2015, a referendum on constitutional change last October, and December's legislative elections have proceeded relatively smoothly, suggesting that normalisation continues.
|
|
He cannot play the world statesman and still rely on being able to wrong-foot adversaries with all-out weirdness; normalisation has some costs.
|
|
The French Association of Normalisation, a national standard-setting body, said that it is designing a new French keyboard that will include an interpunct.
|
|
Fitch expects that the legislative elections due in 203H16 will be a test for political stability, but will not derail the ongoing political normalisation.
|
|
E Yongjian of Bank of Communications, a Chinese bank, says cuts in required reserves can, over the long term, be viewed as policy normalisation.
|
|
He says he would cancel the nuclear deal with Iran on his first day in office, and undo the normalisation of relations with Cuba.
|
|
But they are under pressure from political leaders and oil traders to extend the agreement beyond March to complete the process of inventory normalisation.
|
|
Monetary "policy normalisation was bound to be challenging especially in light of trade tensions and political uncertainty," Borio added in the BIS's quarterly review.
|
|
A spokeswoman for the foreign ministry welcomed the normalisation of ties between Vietnam and America, and painted the arms ban as a kooky anachronism.
|
|
"But whoever it will be, the Fed is going to continue policy normalisation and U.S. interest rates will be higher next year," he added.
|
|
But policymakers also agreed that even if stimulus is curbed, easy monetary policy will continue for a long time and normalisation would be gradual.
|
|
Indeed, monetary policy normalisation in the United States, which has move significantly ahead of other countries, has also been a major dollar-supportive factor.
|
|
For anyone who wonders what normalisation of bigotry looks like, I'd argue first consider that Steve Bannon was chief strategist under the current president.
|
|
"In short, markets had priced in policy normalisation by the world's central banks too much," said Tohru Yamamoto, chief fixed income strategist at Daiwa Securities.
|
|
"The current case of interest rates normalisation is quite cemented and this is taking a little bit of the froth off gold markets," Innes said.
|
|
The central bank just ended an unprecedented stimulus scheme and has already signalled further "normalisation", in the hope of doing away with crisis-era support.
|
|
Besides, the government can argue that saying sorry does not imply legal responsibility, which was settled in Japan's normalisation treaty with South Korea in 1965.
|
|
It set in motion the normalisation of relations with East Germany and other Warsaw Pact nations, as well as easing tensions with the Soviet Union.
|
|
Very low interest rates for an unusually long period of time involve diminishing returns and rising costs that make normalisation of monetary policy increasingly difficult.
|
|
"Markets have already anticipated a form of normalisation (at Gucci), and we are very serene about it," Kering Financial Director Jean-Marc Duplaix told journalists.
|
|
Norman Chan, chief executive of Hong Kong's monetary authority told local media on Thursday there remained uncertainty in the pace of normalisation of U.S. interest rates.
|
|
Any appeals the North may make to America for the normalisation of ties have only one aim: the withdrawal of America's 28,000 troops from South Korea.
|
|
This pushed bond yields and the euro higher as markets begin to price in a normalisation of monetary policy, albeit only several months in the future.
|
|
First, the anticipation of normalisation of the interest rates in the United States and this affected most emerging economies, so it is not unique to Malaysia.
|
|
Turkey's finance minister said Turkish banks were providing billions of lira to foreign markets and normalisation in market conditions, both locally and in London, had begun.
|
|
While the US economy still seems to be on firm footing, guarding against downside risks has become the Fed's main priority (as opposed to policy normalisation).
|
|
"This is tough for sales staff but we are being hit by the wave of normalisation of payouts and this process has to continue," he said.
|
|
"But market participants are now hoping for a normalisation of ECB interest rates... and that is why the euro is generally still quite strong," he said.
|
|
During its rapid surge higher, the VIX outpaced the VSTOXX, an event analysts flagged as an extreme move, also suggesting there would be a rapid normalisation.
|
|
Chambers added that combined with the U.S. Federal Reserve's injection of hundreds of billions of dollars of liquidity, there should be "some normalisation" to market conditions.
|
|
With the ECB widely expected to keep policy on hold, investors will study comments by President Mario Draghi for any references to the pace of policy normalisation.
|
|
But as the European Central Bank shifts closer to policy "normalisation", these holdings could come under pressure from a stronger euro and force investors to look elsewhere.
|
|
As the global economy stabilises, countries need to normalise their monetary policy, although that normalisation is happening at a very slow pace, Zhu told reporters in Beijing.
|
|
So while the Fed is already far further down the road of post-crisis policy normalisation than its peers, the gap may be about to widen further.
|
|
It forecast profits in the second half would benefit from the annualisation of last year's staff wage increase and a normalisation of marketing costs and weather comparatives.
|
|
"In such circumstances, it is possible that normalisation of Federal Reserve monetary policy would occur at a slower pace than expected," the bank said in the statement.
|
|
European Central Bank policymaker Ewald Nowotny gave a speech on Tuesday, expressing confidence in the euro zone's economy, but reiterating the ECB needed to start normalisation now.
|
|
Some investors are worried that the market turbulence caused by Turkey's economic meltdown might delay the ECB's monetary normalisation timetable, said Commerzbank FX analyst Esther Maria Reichelt.
|
|
Rising domestic interest rates alongside Fed normalisation will increase borrowers' debt-servicing burden, raising the near-term likelihood that the property market will enter a gradual downward cycle.
|
|
However a combination of macro risk factors and gradual normalisation of central bank policies in developed markets could begin to weigh on sentiment towards the end of 2017.
|
|
There has been some decrease in concerns about China's near-term prospects, the pace of monetary normalisation in key advanced economies, and the refugee crisis, the IMF said.
|
|
Going hand in hand with normalisation-by-coalition—in part its cause and in part its effect—is a growing professionalism and a professed moderation among the populists.
|
|
The bank said widespread volatility which rocked markets late last year and led to sluggish trading had showed signs of normalisation in the first six weeks of 2019.
|
|
While such a system would suggest that rates would stay low for even longer, the accounts indicated that policymakers were already expecting policy normalisation to be drawn out.
|
|
"Many trend-following players have a scenario drawn up in which the BOJ follows a monetary policy normalisation cycle," said Koji Fukaya, president at FPG Securities in Tokyo.
|
|
Draghi tempered hopes of any policy normalisation signals next week when he told the European Parliament on Monday that the euro zone still needs "fairly substantial" monetary stimulus.
|
|
Menon said the MAS has started a monetary policy normalisation but the approach was to do so incrementally in view of modest inflation and rising trade-related tail risks.
|
|
"Looking ahead the overall backdrop is still very benign with the gradual pace of normalisation and the well-flagged signals from the (European Central Bank) and Fed," she added.
|
|
His debut appearance is seen as critical for financial markets at a time when many investors are nervous about the pace of Fed policy normalisation following years of stimulus.
|
|
Albayrak added that he expects Turkey to post positive growth in 2019, close to its target of 2.3% and that normalisation of the economy will be stronger in 2020.
|
|
Khan's "mean tweets" calls attention to that normalisation, in that it draws people in with the amusing insults, heightening the shock when he jack-knifes into the abusive ones.
|
|
The decline in the housing market will probably continue over the next few months, with a normalisation possible early next year, head of Real Estate Norway Christian Dreyer said.
|
|
Both Mr Trump and Emmanuel Macron, France's president, have been calling for the normalisation of relations with Russia, mooting its return to the G7 club, though for different reasons.
|
|
Traders said investors grew wary after the country's central bank pledged to strictly regulate financial market trading, and as the securities regulator vowed to maintain "normalisation" of new listings.
|
|
"The North also said it can have frank talks with the United States on denuclearization and the normalisation of ties between North Korea and the United States," Chung added.
|
|
The Fed also laid out plans for the gradual "normalisation" of its balance-sheet after soaking up $3.5trn in bonds and other assets as part of its quantitative-easing programme.
|
|
MOSCOW, March 17 (Reuters) - Problems with Russian wheat supplies to Turkey will not affect the normalisation of political ties between the two counties, Kremlin spokesman Dmitry Peskov said on Friday.
|
|
With the ECB widely expected to keep policy on hold, investors will study comments by central bank president Mario Draghi for any references to the pace of monetary policy normalisation.
|
|
Chinas government and businesses have started signalling a gradual normalisation of commercial and transportation activities after a two-week long extended holiday intended to slow the rate of virus transmission.
|
|
As the government maintained its grip on speech in the intervening years—a period known as normilizace (normalisation)—a revived Literarni noviny was published in fits and starts in exile.
|
|
On the one hand, it seems that, on the contrary, markets have calmed down because they expect a lower pace of the normalisation of monetary policy in the United States.
|
|
While Kuroda has dismissed the chance of an early exit from easy policy, analysts see his reappointment as heightening the chance for a slow but steady shift toward monetary normalisation.
|
|
With inflation in advanced economies showing few signs of flaring up and the global economy losing steam, "the narrow normalisation path is proving to be a winding one", he added.
|
|
RATING SENSITIVITIES The curing of the default, such as through a debt restructuring leading to a normalisation of relations with its creditors would lead to an upgrade of the IDRs.
|
|
That would force the ECB to take a slower approach toward policy normalisation, and the euro looks susceptible to a pull-back against the dollar in the near-term, Yeo said.
|
|
He added that normalisation will follow a predictable sequence with the ECB also keeping an eye on how exchange rates develop, with the recent dollar weakness considered a source of uncertainty.
|
|
"Our view remains that the Fed has completed its policy normalisation process and we should expect an extended period of rates on hold," said Joseph Capurso, senior currency strategist at CBA.
|
|
The selfless efforts of those Iranians to overthrow the regime will only be made harder if the regime grows stronger because of the normalisation of trade relations with the free world.
|
|
Weaker-than-expected economic data out of the euro zone has cast some doubt as to how quickly the ECB can head toward policy normalisation and weighed on the euro recently.
|
|
"Despite the likely announcement of the Fed's balance sheet normalisation, we don't expect today's FOMC meeting to have a positive impact on USD," ING strategists wrote in a note to clients.
|
|
"Throughout the year there should be a progressive normalisation," Chief Finance Officer Jean-Marc Duplaix told journalists, adding that the pace of sales growth at Gucci would nevertheless remain very high.
|
|
At school, good-quality, compulsory sex and relationships lessons could help challenge the normalisation of abuse, giving all young people the tools they need to create healthy and respectful relationships later on.
|
|
"She told the president that there cannot be a normalisation of our bilateral relationship until Russia stops the irresponsible and destabilising activity that threatens the UK and its allies," the spokeswoman said.
|
|
The 2229-year old group did, however, forecast that second half profits would benefit from the annualisation of last year's staff wage increase and a normalisation of marketing costs and weather comparatives.
|
|
Continued potential for financial market volatility, particularly as the US embarks on a new phase of monetary policy normalisation, may weigh on financing conditions and credit growth in frontier markets in 2017.
|
|
Fitch expects it to widen to more than 10% of GDP in FY17 due to steady growth in capital goods imports, higher energy prices, a normalisation of transfers and weak export performance.
|
|
They agreed the signs of weakness were not dramatic enough to warrant a slowdown in its policy normalisation, on which there is now broad consensus on the Governing Council, the sources added.
|
|
In the minutes of last week's monetary policy committee meeting, it said the outlook for economic activity will depend largely on the pace, scope and sustainability of the normalisation in credit conditions.
|
|
China's auto market is normalising and the normalisation trend seen in the country's auto market in 2015 will continue this year, said Ian Robertson, the global chief of sales and marketing at BMW.
|
|
Factors that could result in a removal of the RWN and the affirmation of ratings include: - Timely normalisation of Qatar's external relations without an adverse impact on the economy or other credit metrics.
|
|
On Greece, a country which emerged from international bailouts in 2018 after a decade-long crisis that rocked the euro zone, De Guindos said that the economy is "on its way for normalisation".
|
|
"At the very least, the Fed's desire to step up the pace of policy normalisation has changed the conversation at many central banks globally," said Sean Callow, an economist with Westpac in Sydney.
|
|
"In terms of timing, the market is running a bit ahead of itself, but it's still pricing in very gradual normalisation of interest rates," said Martin van Vliet, senior rates strategist at ING.
|
|
We expect the bank's 20150 results to be slightly lower than in the previous year, due to further IT and project expenses and a normalisation of loan impairment charges from low 21012 levels.
|
|
"Concerns surrounding the potential escalation of trade tensions has affected sentiment and central banks' commentary is indicating a reversal of monetary policy normalisation," said StanChart Chief Financial Officer Andy Halford in a statement.
|
|
Speculation about when the BOJ, which has significantly lagged its peers in moving towards policy normalisation, would explore an exit from easy policy has been one of the key themes impacting the yen.
|
|
"The normalisation of monetary conditions will presumably be slow and gradual as inflation appears to be under control for now ... and external monetary conditions also eased substantially," said economist Gergely Suppan at Takarekbank.
|
|
"It looks unlikely at this stage - even though we have started the journey towards normalisation - that industry will be able to ramp up to the level required," said Goodbody chief economist Dermot O'Leary.
|
|
From April, the central bank is cutting its monthly asset purchases to 60 billion euros of bonds from 80 billion in what markets see as a first step towards normalisation of monetary policy.
|
|
For markets, the main event will be the Fed's meeting on Tuesday and Wednesday, where it is likely to take another step toward policy normalisation amid what is rapidly becoming a global trend.
|
|
"This is a year of transition," Matolcsy, a chief ally of Prime Minister Viktor Orban, told an economic conference, adding that a normalisation of global monetary policies and interest rates has already begun.
|
|
"The ECB could curb euro strength if it downplays the prospect of early monetary policy normalisation and warns against a rising currency," said Masafumi Yamamoto, chief forex strategist at Mizuho Securities in Tokyo.
|
|
"The message is clear: the BoE is not shifting off a normalisation path so don't get too bearish on the pound," said Stephen Gallo, European Head of FX Strategy at BMO Financial Group.
|
|
"Normalisation of market volatility broadly supports the dollar against its major rivals except the yen, reinforcing the pattern we expect under a scenario of increased trade protectionism," Bank of America Merrill Lynch strategists.
|
|
"A normalisation of the inflation rate is also desirable so that we gradually get out of the 'unusual monetary policy'," Schaeuble told the magazine in an interview published on its website on Thursday.
|
|
"Its decision one way or the other could have an effect on markets beyond its shores as it will be seen as a proxy for policy normalisation over a wider jurisdiction," notes Shaw.
|
|
But the main event will be the Fed's meeting on Tuesday and Wednesday, at which it is likely to take another step toward policy normalisation in what is rapidly becoming a worldwide trend.
|
|
Minutes released Wednesday from that July decision show some policymakers are pushing for caution on rate hikes due to low inflation, while others believe it's risky to change from the path of normalisation.
|
|
"Should the economy not recover, the market is likely to completely price out a normalisation of interest rates in the foreseeable future, which would pressure the euro," said Zhou Hao, an analyst at Commerzbank.
|
|
The Fed appears confident in sticking with its normalisation path despite a recent dip in inflation readings and they are likely to commence partial reinvestment of maturing bond holdings in the next few months.
|
|
One can believe that this hyper-cautious editorial style sometimes goes too far, as I do in that case of the bestseller lists, while admiring the underlying determination to allow no slippage or normalisation.
|
|
MILAN, July 24 (Reuters) - Credit rating agency Fitch said that the selection of infrastructure group Atlantia as a partner in the rescue of Alitalia suggested a potential normalisation of relationship with the Italian government.
|
|
The finance ministry said in its monthly report that rising private consumption, an eventual normalisation of the European Central Bank's expansionary monetary policy and demographic factors in Germany are likely to narrow the surplus.
|
|
"If the euro area economy recovers and inflation proceeds further on its path towards the ECB's inflation aim in a sustained manner, a discussion on policy normalisation becomes warranted in the future," he added.
|
|
"It's this monetary policy normalisation everywhere that's playing catch-up to the Fed, and that's why the dollar is weak," said Heng Koon How, head of market strategy for United Overseas Bank in Singapore.
|
|
BY SECTOR The dry bulk market, whose fleet is expected to grow 3% in 2020 compared with 3.8% in 2019, is on a long-term recovery cycle, primarily driven by supply normalisation, said IHS.
|
|
Investors are also looking to the release on Wednesday of minutes from the Federal Reserve's January meeting, at which policymakers effectively signalled no further rate hikes and possible tweaks to its balance sheet normalisation.
|
|
"The preliminary results confirmed the ongoing trend of normalisation and we do not expect them to be a driver for the stock," Milan-based broker Banca Akros said, reiterating a "neutral" rating on the stock.
|
|
The code should ensure that "no normalisation of harmful behaviour (such as bullying and selfharming) occurs", they suggest, as well as incorporate ongoing work on safety issues such as bullying and grooming, in their view.
|
|
Powell's debut appearance is seen as critical for financial markets at a time when many investors are nervous about the Fed's policy normalisation following years of stimulus after the financial crisis almost a decade ago.
|
|
Speaking at a news conference, she cited rising levels of protectionism globally, and the normalisation of monetary policy in the United States and the eurozone which, she said, could happen more quickly than previously thought.
|
|
The start-up board index ChiNext slid 0.4 percent, after the securities regulator said it would maintain "normalisation" of initial public offerings and improve the mechanism for delisting shares from stock markets, without giving details.
|
|
"It is incumbent on the President to set a path for tightening and to avoid a situation where Draghi does nothing and the next president has to get policy normalisation back on track," he said.
|
|
"(Policy normalisation) is a long road which hides big challenges and whose end-point has yet to be determined," Weidmann, the head of Germany's central bank and a prominent policy hawk, told financial newspaper Handelsblatt.
|
|
"Israel wants normalisation and political ties with the Arab states, and to achieve this without solving the Israeli-Palestinian conflict," says Elias Zananiri of the Palestine Liberation Organisation, the movement once led by Yasser Arafat.
|
|
This will drive a shift to fiscal reflation in the near term and increases our confidence that the normalisation of US monetary policy will progress faster over the next year following Wednesday's interest rate rise.
|
|
The root cause of the problem is that growth is slowing more than expected, forcing the ECB to reverse course and put plans for policy normalisation on hold, with inflation still far below its objective.
|
|
"We do expect a certain normalisation this year, following the second consecutive year of strong double-digit growth rates," Kasper Rorsted said according to a speech text he was giving at the annual general meeting.
|
|
"The economic growth in the euro zone and inflation developments could encourage the ECB to begin a normalisation of monetary policy," the ministries said in the paper, a copy of which was obtained by Reuters.
|
|
The start-up board index ChiNext slid 0.4 percent after the securities regulator said it would maintain "normalisation" of initial public offerings and improve the mechanism for delisting shares from stock markets, without giving details.
|
|
LONDON, June 7 (Reuters) - HSBC said on Wednesday it raised its year-end forecast for U.S. 10-year Treasury yields by 30 basis points to 1.9 percent as global constraints on U.S. interest rate normalisation recede.
|
|
"A slowdown of the global economy together with normalisation of the U.S. Fed's monetary policy could have an impact on investors' aversion to risks, hence on capital flows to emerging markets including Serbia," the statement said.
|
|
MOSCOW, Oct 2 (Reuters) - Russian Foreign Ministry Sergei Lavrov and U.S. Secretary of State John Kerry in phone talks discussed normalisation of the situation in the Syrian city of Aleppo, Russia's foreign ministry said on Sunday.
|
|
He said that a strong number could push Bank of England rate hikes expectations up a little more but given the overriding environment he said he doubts investors will go too far down the "normalisation" road.
|
|
A Reuters poll of 21 of the 23 primary dealers that do business directly with the Fed showed 14 of them now believed it would announce the start of its balance sheet normalisation at its Sept.
|
|
"The strengthening economic development in the euro zone and the robust outlook make a normalisation (of monetary policy) conceivable," Weidmann said at a meeting of the financial leaders of seven leading world economies in Bari, Italy.
|
|
The immediate focus for currency markets was the European Central Bank's policy decision due later on Thursday where investors will study comments by President Mario Draghi for any further hints on the pace of policy normalisation.
|
|
As historians have been saying ever since China's rise caught their notice in the 1990s, this ought to be called "normalisation", since until 1800 the world's biggest economies were its most populous countries, China and India.
|
|
In the minutes of last week's monetary policy committee meeting, the bank said recent developments had helped total loans gain momentum, adding that normalisation in credit conditions will be important for the outlook of economic activity.
|
|
BERLIN, Jan 12 (Reuters) - German Finance Minister Wolfgang Schaeuble told The European magazine that he favoured a normalisation of the inflation rate so that the European Central Bank could gradually withdraw from its 'unusual monetary policy'.
|
|
Investors are also looking to the release later on Wednesday of minutes from the Federal Reserve's January policy-setting meeting, where policymakers effectively signalled no further rate hikes and possible tweaks to its balance sheet normalisation.
|
|
"There is little to suggest this new Fed chair will be any less dependent on economic data than his predecessor, so the jury should remain out about a quicker pace of interest rate normalisation," Innes added.
|
|
The European Central Bank will debate the eventual normalisation of policy at its meeting next week, but it's the euro's exchange rate that could figure much more prominently in discussions than was expected up until recently.
|
|
Looking at the broader euro zone, the Fund said a sustained rise in wage and price inflation in Germany was needed to help lift inflation in the single currency bloc and aid the normalisation of monetary policy.
|
|
Cetinkaya expected a rise in economic activity in the final quarter of this year and forecast that the contribution of exports to growth would increase in 2017, noting that a normalisation in ties with Russia would help.
|
|
Economists currently expect the central bank will have to wait at least until the European Central Bank starts its monetary policy tightening — now delayed to 2020, at the earliest — before it begins its own path to normalisation.
|
|
On February 5th Argentina took a step towards normalisation when the government made an offer to pay foreign bondholders who rejected a debt restructuring proposed by Ms Fernández's government, which prompted the country to default in 2014.
|
|
This process of normalisation has continued with the loosening of some aspects of the trade and travel embargo; the reopening of embassies in Havana and Washington; and Cuba's removal from America's list of state sponsors of terrorism.
|
|
"A slowdown of the global economy and normalisation of U.S. Federal Reserve monetary policy could have an impact on investors' lower readiness to take risks, and hence on capital flows to emerging markets, including Serbia," it said.
|
|
Incidentally, we have seen that the expectations of investors as regards the effects of the normalisation were also subject to volatility and, irrespective of the sanctions, these spikes and volatility are evident on the international financial markets.
|
|
Women's rights campaigners called for a ban on the "rough sex" defence, saying the normalisation of violent sex in popular culture meant men facing criminal charges for harming women were increasingly claiming that the violence was consensual.
|
|
The series ends with the construction of Maya Lin's Vietnam war memorial in 1982, the gradual easing of tensions between supporters and opponents of the war, and the normalisation of relations between America and Vietnam in the 1990s.
|
|
Speculation regarding when the BOJ, which has significantly lagged its peers in moving towards policy normalisation, would explore an exit from easy policy has been one of the key themes impacting the yen, adding to global policy uncertainty.
|
|
Analysts see one chance in four sterling will reach parity with euro in next year UK inflation expectations hold steady despite recent price climb -Bank of England If anyone needs a "normalisation" of monetary policy, it's the banks.
|
|
"Despite a heavy downward shift of the yield curve and yet another postponement in the expectation of rate normalisation, Italian banks have held up quite nicely," Andrea Filtri, co-head of research at Mediobanca Securities in London, said.
|
|
With four years of unprecedented stimulus to revive the euro zone economy slowly bearing fruit, the ECB had been preparing markets for policy tightening, dubbed "normalisation" -- only to see a global trade war derail its plans within months.
|
|
"If the European economic recovery continues and the ECB pushes ahead with policy normalisation, we will see the euro trade above 2.43 within 18 months or so," said Kit Juckes, an FX strategist at Societe Generale in London.
|
|
"The growing uncertainty surrounding the strength of the world economic recovery, and of the U.S. in particular, makes the normalisation of inflation and unemployment levels in the euro area more difficult," Constancio told a conference in Cernobbio, Italy.
|
|
Dutch central bank Governor Klaas Knot, one of the most prominent hawks on the European Central Bank's rate-setting committee, said it was clear that interest rates would be lower than before the crisis even after policy normalisation.
|
|
But with corporate lending growth at its highest since 2009 and economic growth also relatively robust, the ECB decided last month not to extend the TLTRO scheme, a move seen by some as small step towards policy normalisation.
|
|
"If the euro area economy recovers and inflation proceeds further on its path towards the ECB's inflation aim in a sustained manner, a discussion on policy normalisation becomes warranted in the future," Mersch told a conference in Tokyo.
|
|
Hugo Boss said it expects a gradual normalisation by the middle of the year and forecast that currency-adjusted sales will rise from zero to 2% for the full year, including a single digit decline in Asia/Pacific.
|
|
"Based on the evidence that production activities are currently resuming at a very gradual pace, we think that the current situation would be more in line with the scenario of 'gradual normalisation,'" the analysts wrote in the report.
|
|
HELSINKI, Oct 10 (Reuters) - It is better to be safe than sorry before shifting the policy gear back to normalisation, Finnish policymaker Olli Rehn said on Thursday, in defence of the European Central Bank's decision to raise stimulus.
|
|
Speculation regarding when the BOJ, which has significantly lagged its peers in moving towards policy normalisation, would explore an exit from its easy policy has been one of the key themes impacting the yen in the past few months.
|
|
It was the first presidential-level contact between America and Taiwan since "normalisation" in 1979, when Jimmy Carter broke off diplomatic relations with "Free China", as Taiwan was then often known, and recognised the Communist government in Beijing instead.
|
|
BEHIND FED'S TURNAROUND Investors are also looking to the release later on Wednesday of minutes from the Federal Reserve's January policy-setting meeting, where policymakers effectively signalled no further rate hikes and possible tweaks to its balance sheet normalisation.
|
|
The removal of the political risk associated with Macron's rival Marine Le Pen - who had vowed to take France out of the euro - leaves investors refocusing on the pace of monetary policy normalisation in Europe and the United States.
|
|
" Marx continued, "At the same time I wanted to note that Tiffany and I aren't specifically trying to break down the [misogynistic] attitudes of men, we are trying to increase the normalisation of desire and love in any form.
|
|
In the United States, shorter-dated yields rose as traders scaled back positions on future rate cuts, while longer-dated yields fell on the Fed's muted inflation outlook and the halting of its balance sheet normalisation two months early.
|
|
BUDAPEST, Feb 26 (Reuters) - Hungary's central bank is in a normalisation phase of monetary policy, Governor Gyorgy Matolcsy told a parliamentary committee hearing on Tuesday, adding that it was "good news" that inflation has risen towards the bank's target.
|
|
"The last thing we can imagine as Qatari citizens is for the wealth of our country and nation to contribute to the displacement of another Arab people," Qatari Youth Against Normalisation, a Qatari youth group, said in a statement.
|
|
"Together with Turkey's president we have outlined additional joint steps to neutralise the terrorists' nests in Idlib and normalisation of the situation there and in the whole of Syria as a result," Putin told a joint briefing with Erdogan.
|
|
In addition to the Interpol warrant, Ghosn was also questioned over a formal legal complaint filed against him by a group of Lebanese lawyers who accuse him of "normalisation" with Israel over a visit he made there in 2008.
|
|
In addition to the Interpol warrant, Ghosn is being questioned over a formal legal complaint filed against him by a group of Lebanese lawyers who accuse him of "normalisation" with Israel over a visit he made there in 2008.
|
|
DUBLIN, Sept 29 (Reuters) - The U.S. Federal Reserve is moving "slowly but surely" towards its 2 percent inflation target and a continued normalisation of monetary policy could boost lagging business investment, Philadelphia Fed President Patrick Harker said on Thursday.
|
|
Like Schaeuble's compatriots on the ECB's governing council, de Guindos is seen likely to favour an early normalisation of ECB policy, as the debate among ratesetters shifts towards when and how fast it should unwind its ultra-loose monetary stance.
|
|
"Today's position from the RBA marks a correction to the recent trend in G10 FX, where expectations of policy normalisation have been scaled back and fresh easing (particularly in Australia and New Zealand) has been priced in," ING analysts said.
|
|
"Looking ahead, the near-term outlook for retail sales will still be constrained by the weak performance of inbound tourism," the government said, adding it would watch closely the impact from dimmer global economic prospects amid U.S. interest rate normalisation.
|
|
Bullard said any policy adjustment going forward would be in response to incoming data, and not a continuation of the rate normalisation process which has stopped earlier this year after 225 basis points worth of hikes from near zero levels.
|
|
"Today's position from the RBA marks a correction to the recent trend in G0.23 FX, where expectations of policy normalisation have been scaled back and fresh easing (particularly in Australia and New Zealand) has been priced in," ING analysts said.
|
|
European Central Bank policymakers meeting last month felt it was too early to change their communication stance to signal a normalisation of policy, even if confidence was growing that inflation would finally rise back to target, minutes showed on Thursday.
|
|
"As the Fed appears to be on course on balance sheet normalisation, that possibly adds to the bullish outlook for U.S. Treasuries as they presumably won't hike rates at the same time they are reducing the balance sheet," he said.
|
|
"The combination of Brexit uncertainty, slowing world - and UK - economic growth and lower forecasts for inflation suggests a far slower normalisation of policy," said George Buckley at Nomura, who pushed back his expectation for the first hike to November from May.
|
|
The ECB is widely expected to stay on hold at its first monetary policy meeting of 0.63 that ends later on Thursday, but may acknowledge a sharp slowdown in growth, raising the prospect that any further policy normalisation could be delayed.
|
|
In emerging Europe, Hungary's forint firmed 0.1 percent against the euro, testing four-week highs after the central bank tweaked its policy tools on Tuesday, saying it was preparing for a future "gradual and cautious" normalisation of its loose monetary policy.
|
|
The deal arrived at by Colombia's president, Juan Manuel Santos, and the FARC's leader, Rodrigo Londoño-Echeverry, known as "Timochenko", provides for the disarmament of the FARC's remaining 6,800 troops and 8,500 militia and their concentration in 23 "normalisation zones".
|
|
BERLIN, Sept 30 (Reuters) - The European Central Bank expects interest rates to stay at their current level through the summer of next year and while monetary normalisation has started, it is gradual, ECB board member Benoit Coeure told Germany's Taggespiegel.
|
|
He also said that the ECB's 2.55 trillion euro bond purchase programme should be ended this year, argued that the main refinancing rate could be lifted in the ECB's second rate hike, and made the case for speeding up normalisation.
|
|
After meeting with Turkish President Tayyip Erdogan in Istanbul, Putin also told a briefing Moscow had decided to lift a ban on some food products from Turkey and both had agreed to work towards full-scale normalisation of bilateral ties.
|
|
"Draghi did not refer to the strong euro being a break on policy normalisation -- this is what it triggered the rally in the euro and the price reaction in gold mirrors what the currencies did," said Julius Baer analyst Carsten Menke.
|
|
"The second step in the ECB policy normalisation (hiking the depo rate following the already well telegraphed end of QE) and its positive impact on the euro is one of the cornerstones of our bullish EUR/USD 2019 forecast," ING analysts said.
|
|
AMSTERDAM, Nov 16 (Reuters) - The European Central Bank will follow a gradual path to normalisation, decreasing the emphasis on its 2.55 trillion euro bond buying programme as it unwinds its crisis-era stimulus, the head of the French central bank said on Thursday.
|
|
Kosovo has asked the European Union to press Serbia to drop the warrants against him and others, and angry government and opposition leaders in Pristina called for a halt to EU-mediated normalisation talks between Belgrade and its former, mainly ethnic Albanian province.
|
|
The urgent attention the platform has brought to the prevalence and normalisation of sexual harassment and abuse of power has put pressure on art institutions to revisit and strengthen their policies and mechanisms to work towards safer spaces and more equitable work environments.
|
|
"Today's position from the RBA marks a correction to the recent trend in G10 FX, where expectations of policy normalisation have been scaled back and fresh easing (particularly in Australia and New Zealand) has been priced in," ING analysts said in a note.
|
|
The removal of the political risk investors had associated with Le Pen - who had promised to take France out of the euro - leaves them refocusing on economic fundamentals and the relative pace of monetary policy normalisation in Europe and the United States.
|
|
Meanwhile, investors will also be watchful of a two-day meeting beginning Tuesday where the U.S. Federal Reserve is expected to take another step toward policy normalisation and announce plans to begin unwinding its $4.2 trillion portfolio of Treasuries and mortgage-backed securities.
|
|
"With Thursday's decision, the ECB is only taking very lightly the foot off the accelerator of monetary policy, which is by no means a real normalisation of monetary policy," said Oliver Eichmann, co-head of EMEA fixed income at DWS in Frankfurt.
|
|
In its latest report on the Kenyan economy, the World Bank said growth would pick up after this year, driven by the expected normalisation of rainfall, a firmer global economy, a rebound in tourism and the resolution of challenges curbing credit growth.
|
|
With rising inflation and accelerating growth, monetary policy normalisation should quicken, particularly in the US. Fitch's model-based analysis suggests an additional 1% of GDP of fiscal easing in the US would currently translate to an additional 50 bps of Fed tightening.
|
|
The Hong Kong dollar's depreciation is due to strong demand for U.S. dollars near the end of the year and its weakness is expected to continue as monetary policy normalisation and U.S. tax cuts could bring more funds back to the United States.
|
|
"The prospect of a normalisation of the interest rate cycle will bring benefits but also some risks, depending on the timing and speed as well as the banks' preparedness," Ignazio Angeloni, a senior official in the ECB's supervisory arm, said in Milan.
|
|
South Korea regrets the decision and urged a swift normalisation of the arrangement, Chun said, adding the South would continue to staff the office, set up as a regular channel of communication to ease hostility between the rivals, which technically remain at war.
|
|
"For the time being there is no possibility of avoiding U.S. dollar, which is also due to the fact that the likelihood of an imminent monetary policy normalisation in other parts of the world is falling," Commerzbank analysts wrote in a note.
|
|
For some, discussion of "normalisation" appears eerily similar to 2011, when the European Central Bank, faced with a similarly shaky-looking inflation outlook, raised interest rates in what is now regarded as a mistake, arguing higher rates would be supportive of business confidence.
|
|
Moon said big-picture agreements about denuclearisation, establishing a peace regime and normalisation of relations between the two Koreas and the United States should not be difficult to reach through summits between the North and South, and between the North and the United States.
|
|
Elsewhere, it sees the Bank of Canada adding to the two rate hikes already delivered this year, while it expects the Reserve Bank of Australia and Reserve Bank of New Zealand to begin policy normalisation in the first and third quarters of next year respectively.
|
|
The ECB left policy on hold last week but warned that the bloc's growth dip may be bigger and longer than earlier feared, pointing to even more protracted policy normalisation and suggesting that the bank's next step could be to provide more support, not less.
|
|
"Normalisation of monetary policy in the coming months is almost priced in, and the Fed will start shrinking its balance sheet in September, and this does not necessarily mean a delay of rate hikes," said Masafumi Yamamoto, chief forex strategist at Mizuho Securities in Tokyo.
|
|
For more on the company, click on Fish from the world's top salmon farmer will make a rapid return to the Chinese market following a recent normalisation of diplomatic and political relations between Norway and China, Chairman Ole-Eirik Leroey told financial daily Dagens Naeringsliv.
|
|
"Given the prospect of a protracted, robust economic recovery in the euro area and an increase in price pressure, the discussion is also legitimate on when the Governing Council should consider monetary policy normalisation and how it could adjust its communication accordingly," Weidmann said.
|
|
"We will clearly follow this path of gradual normalisation, with caution but combining the whole range of our instruments - and there shouldn't be excessive focus on the net purchases of assets," Francois Villeroy de Galhau, who sits on the ECB's rate setting Governing Council, said in Amsterdam.
|
|
"We have certainly seen a normalisation of risk reversals and even implied volatility has come down significantly, which suggests the process of unwinding the pre-Brexit GBP shorts ... is close to complete," said Javier Corominas, head of economic research and FX strategy at Record Currency Management.
|
|
Yields have risen after the central bank in July said it would allow the benchmark interest rate it guides under its yield curve-control scheme to move in a wider range, a change that was perceived by some investors as a small step towards policy normalisation.
|
|
"The dollar is stronger, across the board, as the euro had recently been too strong, with too many expectations about early policy normalisation of the European Central Bank, and investors are now unwinding those positions," said Masafumi Yamamoto, chief forex strategist at Mizuho Securities in Tokyo.
|
|
"All the discussion about the exit — we know it will be difficult, it will maybe be a bumpy road — but it is also positive that we are at the point where we can talk about normalisation," Jordan told an audience at the Swiss International Finance Forum.
|
|
Having fought off the threat of deflation with years of extraordinary stimulus, the debate within the ECB is shifting to the pace of normalisation, pitting doves who want incremental changes against conservatives who fear that the ECB could miss its cue, forcing more abrupt moves later.
|
|
"The overall dovish tone and a weak inflation outlook suggest that we are far from a policy normalisation debate, and we thus conclude that the next reduction in the monthly asset purchases will only come at the start of next year," SocGen said in a press release.
|
|
Yields rose after the Bank of Japan in July said it would allow the benchmark interest rate it guides under its yield curve-control scheme to move in a wider range, a change that was perceived by some investors as a small step towards policy normalisation.
|
|
"Although we do not expect (Fed chair) Janet Yellen to overly modify her choice of judicious language, (President (Donald Trump's) ...tax cuts ... could feasibly allow far greater conviction in the speed with which policy normalisation should proceed," said Neil Mellor, senior currency strategist at BNY Mellon.
|
|
"They (the Fed) really want to raise the policy rate so that they have some flexibility should the domestic economy need it, but given this highly unusual slow-growth environment, it's been difficult for there to be clear signals that it can digest policy normalisation," Vail said.
|
|
The AFA has been run in a caretaker capacity since June by a so-called FIFA Normalisation Committee following a botched election at the end of 2015 called to find a successor to its late president Julio Grondona, who died in 2014 after 35 years at the helm.
|
|
Eur 37.0 million at full occupancy * Decline in rental income due to property sales (sale of non-core assets) will be offset by acquisitions, indexing and an increase in occupancy * Normalisation of temporarily higher property expenses and other operating expenses should result in a positive ffo effect of approx.
|
|
The following are some of the factors that may move German stocks: Indicated unchanged China's auto market is normalising and the normalisation trend seen in the country's auto market in 2100.6 will continue this year, Ian Robertson, BMW's head of sales and marketing, said at the Beijing autoshow.
|
|
Twitter abuse was a grand-scale normalisation project, disseminating libel and disinformation, muddying long-held cultural givens such as "racism is bad" and "sexual assault is bad" and "lying is bad" and "authoritarianism is bad," and ultimately greasing the wheels for Donald Trump's ascendance to the US presidency.
|
|
The 29-year old group did, however, forecast on Thursday that second half profits would benefit from the annualisation of last year's staff wage increase and a normalisation of marketing costs and weather comparatives - implying it was on track to make analysts' profit consensus for the full 2229-20 year.
|
|
"Even if the exchange rate touches the weak-side convertibility undertaking rate and funds flow out of the Hong Kong dollar, this is an inevitable process for the normalisation of the Hong Kong dollar interest rates," Howard Lee, an executive director at the Hong Kong Monetary Authority said in an article.
|
|
"We are all aware that the normalisation of the monetary policy in the U.S., combined with their fiscal policy and trade policy ... are all creating a systemic impact to the whole economy in the world," Indonesian Finance Minister Sri Mulyani Indrawati said in an interview during the meetings in Bali.
|
|
Bullard drew comparisons with 2-1/2 decades ago — when rates were increased by 300 basis points between early 1994 and early 1995, and the economy still boomed during the second half of the 1990s — to stress that rate normalisation can be accomplished without damaging prospects for an extended period of growth.
|
|
"The decision to lift the ban was not based on China or any other considerations, it's based on our desire to complete what has been a lengthy process of moving towards normalisation with Vietnam," he said, adding later that his visit to a former foe showed "hearts can change and peace is possible".
|
|
Bullard drew comparisons with 2-1/2 decades ago -- when rates were increased by 300 basis points between early 1994 and early 1995, and the economy still boomed during the second half of the 1990s -- to stress that rate normalisation can be accomplished without damaging prospects for an extended period of growth.
|
|
"Investors are nervous and eager to take profits in anything that has risen ahead of September, when the Fed begins the process of balance sheet normalisation," said a veteran Japanese fund manager, referring to expectations the U.S. Federal Reserve could soon begin reducing the massive monetary stimulus in place since the financial crisis.
|
|
Further reading: *UPDATE 2-"Vigorous" inflation recovery still needs low rates: ECB's Draghi *UPDATE 1-ECB not planning to speed up normalisation, Praet says *COLUMN-Oil market hears echoes of 2007/8: Kemp *COLUMN-Looming loss of Iranian crude is latest in a long line of disruptions: Russell ($1 = 0.8513 euros) Editing by Dale Hudson
|
|
"The idea of a normalisation of rates is coming back on to the cards, despite it being written off recently, and that's one of the major issues that banks have been dealing with," said Joshua Mahoney, market analyst at IG. Italian banks rallied, and the blue-chip index FTSE MIB outperformed, up 06003 percent, benefiting from ongoing speculation of consolidation among some of Italy's smaller banks.
|
|
"Now there are signs of an opening to reset the relations this could be an indirect signal that China is sending to the U.S. administration showing that they are effective on their end of the deal in controlling the moves, if that comes in the greater context of a normalisation of trade frictions," said Cristian Maggio, head of emerging markets strategy at TD Securities.
|
|
Though Mr Trump would surely prefer the sort of meeting in front of the world's cameras that he had with Mr Kim, the countries' long history of bad blood, along with the fact that Iran's regime needs to keep various factions on board, would probably require normalisation to come about step by step—through the appointment of trusted envoys, waivers on some sanctions, confidence-building talks on Yemen, and so on.
|
|
At the same time I wanted to note that Tiffany and I aren't specifically trying to break down the mysogynistic attitudes of men, we are trying to increase the normalisation of desire and love in any form- and conversation (sometimes controversial conversation) is a massive step in making those who were unaffected, disinterested and without any kind of knowledge- think about and create ideology that could change the future.
|
|
"At the same time, I wanted to note that Tiffany and I aren't specifically trying to break down the mysogenstic [sic] attitudes of men, we are trying to increase the normalisation [sic] of desire and love in any form- and conversation (sometimes controversial conversation) is a massive step in making those who were unaffected, disinterested and without any kind of knowledge- think about and create ideology that could change the future," Marx wrote.
|
|
OSLO, May 10 (Reuters) - ** World's top salmon farmer Marine Harvest says salmon exports to China still slow despite recent normalisation of Norway-China trade relations ** CEO Alf-Helge Aarskog says industry needs more specifics, including agreements on import standards and veterinary certificates, to getting trade started ** CEO says it now mostly hinges on practicalities of bureaucracy; the intentions from both parties are good ** Marine Harvest said China and Hong Kong in the first quarter bought around 17,400 tonnes of salmon from producers globally, down 13.4 pct from Q4 and compared to 13,900 tonnes in Japan and 10,300 tonnes in South Korea/Taiwan ** CEO says obviously there is more potential in China and Hong Kong ** Norway re-established relations with China late last year after frozen ties since the award of the Nobel Peace Prize to dissident Liu Xiaobo in 2010 ** Norway's fisheries minister Per Sandberg plans to visit China in late May (Reporting by Ole Petter Skonnord, editing by Terje Solsvik)
|
|