Editor, Investment Strategy. Europe, Middle East and Africa, London
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Oct 28, 2015

Sub-zero interest rates have floor nearby, albeit a shaky one

LONDON (Reuters) – Zero is clearly not the floor for central bank interest rates, but there’s still a lower limit nearby, however shaky it may be.

For anyone assuming official interest rates would not or could not go below zero, it’s been a sobering year. Four central banks in Europe have broken the taboo and are experimenting with the slightly puzzling concept of negative interest rates.

Oct 28, 2015

Analysis – Sub-zero interest rates have floor nearby, albeit a shaky one

LONDON (Reuters) – Zero is clearly not the floor for central bank interest rates, but there’s still a lower limit nearby, however shaky it may be.

For anyone assuming official interest rates would not or could not go below zero, it’s been a sobering year. Four central banks in Europe have broken the taboo and are experimenting with the slightly puzzling concept of negative interest rates.

Oct 14, 2015

Migrants may give Europe’s economy a new lease of life

LONDON (Reuters) – Europe’s aging economy may just find that the biggest refugee crisis since World War Two gives it a new lease of life – even if huge uncertainty about the future scale of immigration and how refugees are integrated cloud any long-range forecasting.

With winter approaching, the dramatic flow into Europe this year of people fleeing poverty and war in the Middle East and Africa slowed only marginally in September.

Oct 14, 2015

Analysis – Migrants may give Europe’s economy a new lease of life

LONDON (Reuters) – Europe’s ageing economy may just find that the biggest refugee crisis since World War Two gives it a new lease of life – even if huge uncertainty about the future scale of immigration and how refugees are integrated cloud any long-range forecasting.

With winter approaching, the dramatic flow into Europe this year of people fleeing poverty and war in the Middle East and Africa slowed only marginally in September.

Sep 30, 2015

Loss of central bank traction puts mandates under scrutiny

LONDON (Reuters) – Growing anxiety that the world’s top central banks have lost control of their mission has intensified scrutiny of their mandates and independence from both political and investment circles.

Far from soothing already nervy financial markets, the U.S. Federal Reserve’s decision not to raise interest rates in September raised more questions than it answered.

Sep 16, 2015

Fed hesitation, UK politics and central bank independence

LONDON (Reuters) – The era of extraordinary monetary policy and central bank dominance of macroeconomic policy may be at a critical juncture – and not just at this week’s Fed meeting in Washington.

The U.S. Federal Reserve decides on Thursday whether to end its seven-year experiment with zero interest rates, having halted its money-printing ‘quantitative easing’ program last year.

Sep 2, 2015

Analysis – Forex reserves unwind could reverse bond supercycle

LONDON (Reuters) – China’s summer shock may mark the end of an era of globalisation that helped define world markets for more than a decade.

Investor anxiety about the consequences is well-founded.

Beijing’s integration into the global economy since 2002 reshaped the financial as well as economic landscape – mainly by the way China itself and the economies it supercharged with outsize demand for raw materials banked the hard cash windfalls they earned over the following 12 years.

Sep 2, 2015

Forex reserves unwind could reverse bond supercycle

LONDON (Reuters) – China’s summer shock may mark the end of an era of globalization that helped define world markets for more than a decade.

Investor anxiety about the consequences is well-founded.

Beijing’s integration into the global economy since 2002 reshaped the financial as well as economic landscape – mainly by the way China itself and the economies it supercharged with outsize demand for raw materials banked the hard cash windfalls they earned over the following 12 years.

Aug 5, 2015

Analysis – Raising interest rates with zero inflation is a hard sell

LONDON (Reuters) – Americans and Britons bracing for their first interest rate rises in almost a decade are puzzled: why are rates about to go up when there’s no inflation?

Both the Federal Reserve and Bank of England are proclaiming that they are on the cusp of raising interest rates for the first time in almost a decade. It may take a few months, but the message they are sending still heavily-indebted households either side of the Atlantic is clear: ‘be warned’.

Aug 5, 2015

Raising interest rates with zero inflation is a hard sell

LONDON (Reuters) – Americans and Britons bracing for their first interest rate rises in almost a decade are puzzled: why are rates about to go up when there’s no inflation?

Both the Federal Reserve and Bank of England are proclaiming that they are on the cusp of raising interest rates for the first time in almost a decade. It may take a few months, but the message they are sending still heavily-indebted households either side of the Atlantic is clear: ‘be warned’.

    • About Mike

      "Mike Dolan is Reuters' Investment Strategy Editor in Europe. He has been a correspondent and editor for the past 20 years, working for Reuters from London and Washington DC in a variety of roles covering global policymaking, economics and investment trends."
      Joined Reuters:
      1995
      Awards:
      Reuters Editor of the Year, 2009. Reuters multimedia journalist of the year award, 2011
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