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’Another piece of the LTRO puzzle
The point has been made before that rising deposits at the ECB do not, (repeat, not) indicate that banks are “hoarding liquidity”.
Here’s Guy Debelle, assistant governor at the Reserve Bank of Australia,
The great Australian bond run
We noted a while back that Australia was facing a serious problem in its bond markets. In short, the country seems to be running out of public government debt.
There isn’t anywhere near enough to satisfy demand.
Manufacturing quality collateral
Regulators are demanding that banks set aside larger amounts of high-quality liquid assets to help them withstand periods of market stress.
The securities generally deemed acceptable are AAA-government bonds.
Rates on the rise in Asia
It’s central bank action month, or at least, central bankers are grabbing the limelight – even as government leaders and policy makers from around the world prepare to discuss ‘currency wars’ and other issues at the G20 and Apec gatherings later this month.
Snap news
Breaking pre-market news on Tuesday,
- Reserve Bank of Australia’s Stevens raises key interest rate to 4.25 per cent – statement.
- NYSE’s European dark pool Says Q1 trading surges – Bloomberg.
Carry trades and reverberations Down Under
Australia might be a long way from Europe and the US, but the impact of events in those far-off regions has added to Tuesday’s surprise decision by the Reserve Bank of Australia to hold interest rates – prompting some top forecasters to call an end to the Aussie dollar’s dream run.
The RBA’s ‘shocker’ Down Under
Australia’s central bankers had a bit of fun on Tuesday, confounding economists, shocking markets and driving down the Aussie dollar to its lowest level in six weeks by unexpectedly holding the country’s benchmark interest rate at 3.75 per cent,
Australia’s Cup day rate rise
Coming on the same day of Australia’s biggest annual horse race, the Melbourne Cup, the Reserve Bank of Australia’s interest rate decision on Tuesday – unlike picking a Cup winner – was “the easiest call in town”,
What Australia’s rate hike means for the market
Australia on Tuesday became the first G20 nation to raise interest rates since the peak of the financial crisis, as its central bank increased the official cash rate from 3 per cent to 3.25 per cent. (Israel,
Australia lifts key rate
Australia on Tuesday became the first G20 nation to raise borrowing costs since the start of the global financial crisis more than a year ago, as the central bank unexpectedly raised its benchmark interest rate from a 49-year low and signalled more increases in coming months,