ECB Exits Negative Interest Rates, Hikes by 50 Bpts, Double its Promise, Bigger Hikes on Tap, Shows Off New Glue Gun to Prevent Sovereign Debt Crisis During Rate Hikes & QT by Wolf Richter • Jul 21, 2022 • 237 Comments Raging inflation finally forces the ECB to abandon its reckless and absurd monetary policies and turn hawkish.
Eurozone Whacked by Runaway Inflation, “Fragmentation” Fears after Years of Negative Interest Rates and Reckless QE by Wolf Richter • Jul 1, 2022 • 135 Comments Raging inflation started mid-2021, but the ECB called it temporary. In June, it ranged from 6% to 22%!
The Process of Ending Massive Money Printing Has Started by Wolf Richter • Sep 9, 2021 • 261 Comments ECB second giant to taper. Bank of Japan already ended QE. Bank of Canada shed 15% of assets. UK, Australia are tapering. New Zealand quit cold turkey
The Dollar’s Declining Status as Dominant “Global Reserve Currency” v. the Dollar’s Exchange Rate by Wolf Richter • Jul 5, 2021 • 208 Comments Nothing Goes to Heck in a Straight line, not even the dollar’s hegemony.
365 Days With My Mother-in-Law: Boots on the Ground View of Barcelona’s Economy by Nick Corbishley • Mar 7, 2021 • 76 Comments It remains in a state of suspended animation.
Central Bank Machinations with No Exit: ECB Leaks New Thingy, It’s Doing Yield Spread Control by Wolf Richter • Jan 19, 2021 • 186 Comments This is not your grandmother’s “yield curve control.” There is only one thing that could force this ECB absurdity to end: a big bout of inflation.
US Dollar as “Global Reserve Currency” amid Fed’s QE and US Government Deficits: Dollar Hegemony in Decline by Wolf Richter • Dec 31, 2020 • 299 Comments Other options also shaky. Central banks leery of Chinese RMB, its share still irrelevant. Euro’s share is stuck. But the yen’s share has been rising.
Third Mega-Crisis in 12 Years: Eurozone Economy Plunges at Fastest Rate on Record by Nick Corbishley • May 17, 2020 • 102 Comments First the Global Financial Crisis, then the Euro Debt Crisis, now the Big One.
Demand for Bank Notes in Dollars & Euros Spikes Despite Fears of Covid-19 Contaminated Cash by Nick Corbishley • Apr 19, 2020 • 102 Comments A curious phenomenon.
Status of US Dollar as Global Reserve Currency v. Euro, Yen, Chinese Renminbi, & Others by Wolf Richter • Jan 2, 2020 • 111 Comments Latest data is out. Folks who hoped the Renminbi would break the dollar hegemony have to be very patient.