ALL BLOG POSTS
This is from the Telegraph:
Big news out of Moscow today - not about the renewed escalation of military fighting in Eastern Ukraine, but rather about Russian monetary policy. Hence, today the Russian central bank (CBR) under the leadership of Elvira Nabiullina effectively let the ruble float freely.
Today it is 25 years ago the Berlin Wall came down. It has become the symbol of the end of communism and is surely something which should be celebrated.
This will not be a long post - I have had a busy week with a three-day roadshow in Poland and it is after all Saturday night - but it will be long enough to yet again point the fingers at the ECB for its deflationary policies.
Yesterday the Shadow Open Market Committee (SOMC) held its regular semi-annual meeting in New York.
This is my good friend Michael Darda speaking on Bloomberg TV about the ECB - needless to say I agree with everything he says.
Earlier this week Boston Fed chief Eric Rosengreen in an interview on CNBC said that the Federal Reserve could introduce a forth round of quantitative easing – QE4 – since the beginning of the crisis in 2008 if the outlook for the US economy worsens.
Oil prices are tumbling and so are inflation expectations so it is only natural to conclude that the drop in inflation expectations is caused by a positive supply shock – lower oil prices. However, that is not necessarily the case. In fact I believe it is wrong.