Chief International Economics Correspondent @BloombergNews in London. Previously in Washington and Paris. Likes cricket

Oil Spilling Over Into Central Bank Policy as Fed Enters Fray

bloomberg.com — Norway's central bank stunned investors last week by cutting its main interest rate to head off a "severe downturn" due to plunging oil prices. Ninety minutes later, Russia 's central bank raised its benchmark to bolster a currency weakened by crude's decline.

Rising Salaries Give Kuroda, Yellen and Carney Reasons to Smile

bloomberg.com — Bank of Japan Governor Haruhiko Kuroda is finally getting a pay raise -- and so, too, are a growing number of workers throughout the industrial world. Wages are beginning to climb in the U.S., Japan, the U.K. and Germany as tightening job markets force employers to pay workers more.

Schwarzman, Piketty, Kerry, Gorman Pick Best Books of ’14

bloomberg.com — Tap for Slideshow Billionaire private-equity investor Stephen Schwarzman studied geopolitics, while Morgan Stanley Chief Executive Officer James Gorman drew lessons from rowers trying to win the Olympics. U.S. Secretary of State John Kerry looked at China and ice hockey. Economist Thomas Piketty enjoyed Mexican literature. Billionaire Wilbur Ross disagreed with Piketty's own work on inequality.

Greek Crisis 2.0 Leaving Other Bailout Patients Unscathed

bloomberg.com — Greece is again the word in financial markets. For now, though, the crisis vocabulary doesn't include Ireland, Portugal, Spain or Italy. Greece Crisis 2.0, coming five years after it sent the first shockwaves through Europe, may prove less infectious this time thanks to nations' improved finances and the backstops provided by euro area politicians and central bankers.

Bad News for ECB Loans May Be Good News for QE-Seekers

bloomberg.com — Bad news for the European Central Bank may be good news for investors eager for it to start quantitative easing. The ECB will tomorrow issue a second round of long-term loans to banks as part of a plan to spur credit and boost inflation.

Think Central Banks Are Done? Stimulus Set to Accelerate in 2015

bloomberg.com — If you expect global central banks to unwind stimulus next year, you're probably wrong. In fact, the world's monetary policy makers are set to open the cash spigot by the most in four years in 2015. Major central banks will together add almost three times more liquidity next year than they did in 2014, according to Credit Suisse Group AG analysts.

Don’t Count on Oil Drop Greasing Global Growth

bloomberg.com — The declining price of crude oil may no longer grease the wheels of the world economy as much as it once did -- and as much as International Monetary Fund Managing Director Christine Lagarde expects. Recent history even may be on the side of contrarians like Fatih Yilmaz from London-based hedge fund SLJ Macro Partners LLP.

Grandmaster Flash’s Gripe Is Outdated in Draghi's Lowflation World

finance.yahoo.com — Three decades ago, Ronald Reagan called surging prices "as violent as a mugger," while Grandmaster Flash rapped about "double-digit inflation" making him "wonder how I keep from going under." Fast forward to the eve of 2015 and central bankers have a different gripe: lowflation, or a prolonged period of ultra-low inflation.

Grandmaster Flash’s Inflation Gripe Outdated in Lowflation World

bloomberg.com — Three decades ago, Ronald Reagan called surging prices "as violent as a mugger," while Grandmaster Flash rapped about "double-digit inflation" making him "wonder how I keep from going under." Fast forward to the eve of 2015 and central bankers have a different gripe: lowflation, or a prolonged period of ultra-low inflation.

The Other D-Word Set to Unnerve Central Banks Lacking Control

bloomberg.com — Central banks fret a lot about words beginning with "D" these days. Having boosted their economies out of downturns, some of which were double-dips, many are now worrying about deflation. Others fear the prospect of diverging from the Federal Reserve. At least those challenges can in theory be met with shifts in monetary policy.
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Dec 18, 2014

RT @aspeciale: So, with the accounts and the new Economic Bulletin, @ECB will communicate every 2 weeks even with 6-week meeting cycle

Dec 18, 2014

RT @srastello: @simonjkennedy This side of the world Rajan was explicit. Said RBI may change course next year `including outside the policy review cycle'

Dec 18, 2014

CBR and SNB showing central banks can and will act outside regularly-scheduled meetings...

Dec 18, 2014

RT @JoelKruger: Crazy week - One central bank desperate to strengthen its currency while the other can't do enough to weaken. #SNB #CBR $RUB $CHF

Dec 18, 2014

RT @hharrisEMEA: MORNING SURPRISE #SNB introduces negative rates, says Libor target range is -0.75% to 0.25%

Dec 18, 2014

Best story on Russia today -- Putin’s Secret Gamble on Reserves Backfires Into Currency Crisis via @business bloom.bg/1BZEeAT

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