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

Draghi Declares Victory for Bond-Buying Before It Even Starts

bloomberg.com — (Bloomberg) -- Mario Draghi is claiming victory for his quantitative-easing program before it even starts. As the European Central Bank president set a start date of Monday for his 1.1 trillion euro ($1.2 trillion) bond-buying program, he said the stimulus will spur the euro area's fastest economic growth since 2007 and return inflation to the ECB's goal within three years.

Bloomberg Briefs

newsletters.briefs.bloomberg.com — The Scottish National Party is set to win some of Labour and the Liberal Democrats' safest seats in Scotland in May's elections, according to Lord Ashcroft Polls. A February survey of eight Scottish constituencies showed six could go to the SNP, including former Labour Prime Minister Gordon Brown's seat of Kirkcaldy and Cowdenbeath, the report showed.

Bank of England Risks Credibility Crisis Amid Criminal Probe

bloomberg.com — (Bloomberg) -- Mark Carney said this week the Bank of England's reputation has taken a knock from its failure to spot the rigging of global currency markets. A day later, that became a double blow when the U.K. fraud watchdog began investigating the 300-year-old institution's efforts to help banks during the depths of the financial crisis.

Draghi’s Inflation Gap Dashboard Points to Stimulus Extending

bloomberg.com — (Bloomberg) -- Federal Reserve Chair Janet Yellen has her labor-market dashboard to help shape policy. For President Mario Draghi, the European Central Bank's analog may be an emerging inflation dashboard -- tracking the distance between the ECB's goal of consumer-price growth just below 2 percent and its own projections.

Deflation Risk Frustrates Central Bankers’ Easy Money Campaigns

bloomberg.com — (Bloomberg) -- Central bankers are fighting an uphill battle against the forces of deflation. Flatlining consumer prices and plunging commodity costs are sapping the potency of near-zero interest rates and driving up the so-called real rate -- or interest minus inflation.

The Great Global Monetary Easing of 2015 May Be Done by Midyear

bloomberg.com — (Bloomberg) -- The rush began in Tashkent, capital of Uzbekistan, on Jan. 1. The former Soviet state enacted the first interest-rate reduction of 2015. Since then, the cuts have come thick and fast, with the People's Bank of China on Saturday becoming the 17th central bank of 57 monitored by Bloomberg News to pare its benchmark.

How Much Will You Pay to Park Cash as Central Banks Go Negative?

bloomberg.com — (Bloomberg) -- Central banks are stooping to new lows to boost inflation back to their goals. The price-stability guardians of the euro area, Switzerland, Sweden and Denmark are now imposing negative interest rates on banks' deposits or on funding operations that feed through to the real economy.

Populism Spans Globe After Piketty’s Message Resounded

bloomberg.com — (Bloomberg) -- A year after Thomas Piketty's investigation into global inequality captured the attention of the world's economic thinkers, policy makers in political-monopoly states are taking his lessons to heart in their annual budgets. Governments in South Africa, Hong Kong and Singapore adopted a decidedly populist bent this week, expanding help for lower-income households and, in some cases, boosting levies on the wealthier members of society.

Draghi Accelerating on Easy Street Won’t Bypass Yellen Soon

Draghi Accelerating on Easy Street Won’t Overtake Yellen Soon

bloomberg.com — (Bloomberg) -- For the widening U.S.-euro area divide in central bank rhetoric, the policy gap isn't budging much. So while Janet Yellen prepares the markets for higher interest rates and Mario Draghi rolls out European-style quantitative-easing, U.S. monetary policy remains three times more expansive than the euro area's, says Michala Marcussen, global head of economics at Societe Generale SA.
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Mar 04, 2015

Poland becomes roughly the 21st global central bank to cut rates this year but economists see no more reductions from Warsaw

Mar 04, 2015

RT @Birdyword: @simonjkennedy I can hear a thousand readers screaming out 'stocks and flows!' in anguish.

Mar 04, 2015

iPhones beat oil - The market cap of Apple ($752bn) now exceeds the GDP of Saudi Arabia ($748bn), according to Bank of America.

Mar 04, 2015

By my reckoning 20 central banks have eased monetary policy this year. Will Poland join the party?

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