Another Russian rate cut?

By Mike Peacock
March 13, 2015

A cashier takes a 500-rouble banknote from a cash register as she serves a customer at the Vinoteka specialised wine and vodka store in Russia's Siberian city of Krasnoyarsk

Russia’s central bank meets having unexpectedly cut its key policy rate in January by 200 basis points to 15 percent, raising a question mark over its independence from political pressure, given inflation rose to a 13-year high of 16.7 percent in February.

Talking Turkey

By Mike Peacock
March 11, 2015

Turkey's President Tayyip Erdogan arrives for a welcoming ceremony at the Presidential Palace in Ankara

Turkish Central Bank Governor Erdem Basci will brief President Tayyip Erdogan today about sharp falls in the lira of about 12 percent versus the dollar this year which have not been helped by Erdogan’s criticism of monetary policy.

ECB to fill in the QE gaps

By Mike Peacock
March 5, 2015

ECB President Draghi arrives to take part in a plenary debate on the ECB's Annual Report 2013 at the EU Parliament in Brussels

The European Central Bank is holding its monthly meeting – an offsite gathering in Cyprus – and is about to commence its quantitative easing bond-buying programme.

Prescient Yellen saw limits of zero Fed interest rates back in 2009

March 4, 2015

yellen.jpgDespite the Federal Reserve’s trillions of dollars in newly printed money, workers’ wages and overall U.S. inflation have failed to take off since the recession. Longer-term borrowing costs, from 10-year Treasury yields to 30-year home mortgages, have also compressed without any real signs of reversing. While this has perplexed many economists, transcripts of the U.S. central bank’s crisis-fighting meetings in 2009 show that Janet Yellen, then the head of the San Francisco Fed, was prescient in warning colleagues of these very problems.

Euro zone data starting to surprise on the upside

By Mike Peacock
March 4, 2015

A truck passes through an electronic toll gate on the A10 highway south of Berlin

A day before the European Central Bank’s monthly meeting, service sector PMI surveys for euro zone countries will be scrutinized to see if they add to a developing trend of above-forecast economic data.

Brazil’s shock therapy against inflation

March 3, 2015

Brazil's Central Bank President Alexandre Tombini reacts during the first ministerial meeting in Brasilia

Brazil’s central bank’s two-day policy meeting kicks off later on Tuesday with all bets placed on a fourth straight interest rate increase, despite growing consensus that the country is headed for its worst economic recession in 25 years.

Turkish interest rate standoff

By Mike Peacock
March 3, 2015

Turkey's President Tayyip Erdogan gestures during a conference at the Foreign Affairs building  in Mexico City

Turkey’s central bank releases minutes of its last meeting at which it cut interest rates by a quarter point.

Whisper it, is the euro zone perking up?

By Mike Peacock
February 26, 2015

People walk into the the Mall of Berlin shopping centre in Berlin

The drama of Ukraine and Greece has left old-fashioned economic data in the shade so far this year but, quietly, there are some signs of improvement for the moribund euro zone economy.

The Greek plan is in, breath bated

By Mike Peacock
February 24, 2015

Varoufakis arrives at a news conference after an extraordinary euro zone Finance Ministers meeting in Brussels

Greece sent an economic reform plan to its EU and IMF creditors overnight, according to an EU source, and euro zone finance ministers will this morning see the list which is a condition for extending the country’s bailout programme by four months.

Long night of talks in Brussels and Minsk

By Mike Peacock
February 12, 2015

Eurogroup President Dijsselbloem greets Greek Finance Minister Varoufakis during an extraordinary euro zone Finance Ministers meeting in Brussels

A long night of talks in Brussels and Minsk.

Despite going into the early hours of the morning, euro zone finance ministers failed to reach agreement on a way forward with their Greek counterpart and will try again on Monday.