Jumat, 27 Februari 2015
Kamis, 26 Februari 2015
Rabu, 25 Februari 2015
EU WITH EURO
Sampai saat ini ada 17 Negara pengguna mata uang euro. Inilah daftar lengkap 17 negara di kawasan Eropa yang menggunakan mata uang Euro.
- Austria
- Belanda
- Belgia
- Estonia
- Finlandia
- Irlandia
- Italia
- Jerman
- Luksemburg
- Malta
- Perancis
- Portugal
- Siprus
- Slovenia
- Slowakia
- Spanyol
- Yunani
Sumber referensi lain bisa anda lihat di id.wikipedia.org
Selasa, 24 Februari 2015
The Federal Reserve will not raise rates at the March 17-18 FOMC meeting.
Yellen's
testimony is not about articulating a new policy, but explaining the
existing policy to US Congress, and to some extent, the American
people.
The key point is that monetary policy is in transition.
The asset purchases have stopped, though the maturing issues continued
to be reinvested. The Federal Reserve is preparing the market for a
rate hike, though it is not indicated when, though it has thus far used
word clues to indicate that it will not happen in March or April. We
expect Yellen not to say anything that will rule out a June hike.
There are three general reasons
why a rate hike in the middle of the year remains the most likely
scenario:
First, the economy not longer
requires the emergency monetary setting that was indeed necessary to prevent
greater crisis. The economy grew at its
fastest rate in a decade in the April-September 2014 period and appears to be
slowing back into the trend pace (growth in the work force plus
productivity). Although the overall
economy slowed in Q4 14, consumption rose by 4.3%; the strongest since Q1 2006
and this was achieved with minimal use of
credit cards. In the three months ending
in January, the US economy created more than a million jobs, the most in 20
years.
Second, the Federal Reserve is
following a course that proved successful with tapering and speaks to
transparency and credibility. It shared
with investors that it was considering tapering. It provided a general time frame, allowing
investors to adjust accordingly. It then
did what it said it would. As it
executed its strategy, it was not distracted by short-run noise, like the fact
that the US economy contracted in Q1 14.
In a similar vein, the Federal Reserve is preparing investors for a
mid-year rate hike.
Third, with overnight (Fed funds)
interest rartes near zero, conventional policy tools have been
compromised. In order to reactivate it,
there needs to be scope to provide stimulus.
Some may dismiss this as having to raise rates to cut them, but it does
not do justice the need and desire to for the central bank to have conventional
policy options.
It is true that inflation is
lower than the Fed’s target. However, unlike the other major central banks, the
Federal Reserve’s inflation targets excludes energy and food but includes housing.
The ECB targets the headline
inflation, and its core measure excludes housing costs. The Bank of Japan targets core inflation that excludes fresh food prices (and for now,
last April’s sales tax increase). Fed
officials have emphasized the transitory
nature of the energy induced decline in inflation, which has some knock-on
effects on core prices.
The dollar’s appreciation also
does not pose a significant hurdle to the Fed adjusting US monetary
policy. The headwind posed by the stronger dollar has been offset by the decline in US bond yields
and the drop in oil prices. In addition,
the Federal Reserve has noted that external trade accounts for a small part of
the overall economy, and the effect of the dollar’s appreciation on
exports is modest.
If the March FOMC statement fails
to drop the word “patience”, the US dollar will likely sell-off. Equities and emerging markets would likely be boosted.
It would signal that, barring a new significant development, there would
not be a rate hike in the second quarter.
We expect that the word “patience” will either replaced or sufficiently
neutered to keep investors on notice for a mid-year hike. In the context of the ECB embarking on its
more aggressive asset purchase plan and the BOJ continues its program, the
divergence favors the US dollar.
sumber; http://www.marctomarket.com/2015/02/the-context-for-yellen.html DRAGHI TERBITKAN PECAHAN EURO 20
On 24 February 2015, Mario Draghi, President of the European Central
Bank (ECB), unveiled the new €20 banknote at a press conference at the
ECB's new headquarters in Frankfurt am Main, Germany. The note has a
refreshed design and some enhanced security features. It will start
circulating in the euro area on 25 November 2015.sumber; http://www.ecb.europa.eu/press/pr/date/2015/html/pr150224.en.html
Rabu, 18 Februari 2015
Senin, 16 Februari 2015
Jumat, 13 Februari 2015
Rabu, 04 Februari 2015
2015 FOMC Meetings;
January 27-28
March 17-18*
April 28-29
June 16-17*
July 28-29
September 16-17*
October 27-28
December 15-16* sumber; http://www.federalreserve.gov/monetarypolicy/fomccalendars.htm
March 17-18*
April 28-29
June 16-17*
July 28-29
September 16-17*
October 27-28
December 15-16* sumber; http://www.federalreserve.gov/monetarypolicy/fomccalendars.htm
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