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.
“Things Are Not Normal Right Now”: Bank of Canada Hikes by Monster 100 Basis Points, Hits Mortgages. So Might the Fed after US CPI Fiasco by Wolf Richter • Jul 13, 2022 • 214 Comments Blame whatever. Just don’t blame money-printing and interest-rate repression.
Bank of Japan’s Assets Drop for 2nd Month in a Row by Wolf Richter • Jul 6, 2022 • 81 Comments Possibly confusing to folks in the US financial media that in recent months had hyped some new QE by the BOJ.
Tightening Comes Even to Ridiculous ECB Sooner, Faster as Seven EU Countries Hit by 10%-16% Inflation, Four by over 9% by Wolf Richter • Apr 22, 2022 • 133 Comments The ECB created the greatest corporate bond bubble ever. Now junk bonds get crushed, yields already doubled, set to double again, and again, cleansing out the zombies.
Front-Running the Fed: Bank of Canada Hikes 50 Basis Points to 1.0%, Starts Official QT. Unofficial QT Already Shrank Assets by 15% by Wolf Richter • Apr 13, 2022 • 219 Comments “The economy can handle higher interest rates, and they are needed.” The BoC is way behind the curve, but way ahead of the Fed.
Bank of Japan’s Mind Game: Massive Bond Buys to Cap 10-Year Yield? Didn’t Happen. Bond Holdings Actually Fell. But it Worked by Wolf Richter • Apr 7, 2022 • 54 Comments Maybe the BoJ doesn’t want to totally crush the yen?
Bank of Canada Front-Runs the Fed, Hikes Interest Rates, Citing Hot Inflation & Even More Inflationary Pressures by Wolf Richter • Mar 2, 2022 • 104 Comments Rates “need to rise further.” Balance sheet already shrank by 14%, more shrinkage to come.
Global Tightening amid Raging Inflation: February Update by Wolf Richter • Feb 3, 2022 • 224 Comments Brazil and Russia caught up via shock-and-awe rate hikes. But most central banks fell further behind. Then there are the reckless laggards.
End of Easy Money: Monstrous Money-Printer Bank of Japan Stops Printing Money, Cuts Government Securities Below July 2020 Level by Wolf Richter • Jan 5, 2022 • 87 Comments Its much-hyped but minuscule stock ETF holdings are on ice too.
US Dollar’s Status as Dominant “Global Reserve Currency” at 25-Year Low. And USD Exchange Rates? by Wolf Richter • Dec 30, 2021 • 183 Comments Euro’s 20th birthday after dreams of “Dollar Parity” put on ice during Euro Debt Crisis. Central banks still leery of Chinese renminbi.
