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Choice of central bank head will send early signal on balance of power between three parties
Investors are worried by the maturing of a big gilt issue as giant QE programme starts to unwind
Central bank examines ways to retain flexibility in bond markets afforded by pandemic relief scheme
Something has to give in the unstable equilibrium of markets
Some policymakers had pushed for a bigger cut in asset purchases at central bank’s September meeting
The MMT solution raises its dismal head again.
The longer central bank ‘tapering’ is delayed, the more the risk of a disruptive markets move
Rising rates don’t have to crush stocks, but they can
President promises not to ‘overreact’ to temporary shocks driving inflation higher
Governor says BoE would act to prevent higher inflation becoming persistent
Anticipated squeeze on quantitative easing heralds end of bull run
Some bond prices have been so high that buyers are guaranteed to get back less than they paid
It is hard to discern the impact of rate rises on yields when quantitative easing distorts the picture
Monetary policy committee surprises analysts by slashing borrowing costs to 18%
The country’s central bank has a few more innovations for others to consider
Norges Bank says more rises to come as economy rebounds and financial imbalances grow
How the Fed surprised no one
Stagflation would create devastating problems for weaker borrowers, notably heavily indebted emerging economies.
Demand for US debt from China and Japan has kept prices high and yields low ahead of expected ‘taper’ this year
Internal model suggests eurozone interest rates could go up in two years, closing gap with forecast move by Fed
Ending quantitative easing would show that it is serious about inflation risks
FT-IGM survey suggests increase will come more quickly than Fed’s latest projections
But Lagarde insists ‘the lady isn’t tapering’ and warns eurozone is ‘not out of the woods’
Central bank is pulling back but needs to convince markets its asset purchase programme will not end too soon
Outlook is still unclear but justification for emergency support is weakening