Bank of Japan Stops QE, Reserve Bank of Australia Starts Tapering, Bank of Canada & Bank of England Already Tapering, Amid Shock-and-Awe Rate Hikes in Emerging Markets by Wolf Richter • Jul 6, 2021 • 167 Comments The Fed is a laggard, now discussing when and how to taper QE. The ECB is an even bigger laggard, as inflation begins to rage.
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.
While Fed Is in Denial, Hawkish Bank of Russia Sees Inflation as “Not Transitory,” Warns of Possible Shock-and-Awe Rate Hike by Wolf Richter • Jun 28, 2021 • 165 Comments US Inflation is almost as hot as in Russia, but the Fed is still blowing it off.
Central Banks Did it, Won’t Admit it. Top OECD Housing Bubbles: #1 New Zealand, #2 Canada, #7 USA by Wolf Richter • Jun 24, 2021 • 165 Comments According to “Bubble Ranking” by Bloomberg Economics.
Bank of England Chief Economist: Avoid Inflation Surge “Like the Plague” by Nick Corbishley • May 29, 2021 • 81 Comments “An upside surprise to inflation is among the greatest risks.”
Bank of England Now 2nd Central Bank to Taper, After Canada, but Denies Tapering is “Tapering,” also Following Canada by Wolf Richter • May 6, 2021 • 69 Comments The Big Taper starts one central bank at a time. But you gotta keep the markets from swooning with a bit of welcome delusion.
The Taper Next Door: Bank of Canada Cuts Bond Purchases by 25%. Total Assets Drop by 13%. Rate Hikes Moved Forward, Possibly July 2022 by Wolf Richter • Apr 21, 2021 • 89 Comments Housing craziness is front and center.
Bank of Canada Now Owns 40% of Government of Canada Bonds. Fed a Saint in Comparison. Taper on the Table by Wolf Richter • Apr 6, 2021 • 227 Comments “Makes you wonder if there’s a potential mid-QE-life crisis taking shape in Ottawa”: strategists at the National Bank of Canada in a note that would be hilarious if it weren’t so serious.
Bank of Canada Announces Balance Sheet Reduction, Suddenly Worried about “Moral Hazard” by Wolf Richter • Mar 23, 2021 • 90 Comments “Once crisis tools have served their purpose, central banks should scale them back.”
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.
