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Federal Reserve's rate hike yesterday effectively means that the Fed will continue to undershoot it's 2% inflation. Consequently the Fed is gradually eroding the credibility of the inflation target.
Today we have published a new Research memo, which previews Wednesday’s policy announcement from the US Federal Reserve. Our conclusion is that US monetary conditions are too tight to ensure that the Fed will hit its 2% inflation target in the medium term.
Twenty-five years ago today, Danes voted no to the Maastricht Treaty, and therefore no to participating in the single European currency – the euro. Despite of that the Danish krone remains pegged to the euro. It is time for Denmark to float the krone.
Lars Christensen in this op-ed (first published in the Icelandic newspaper Frettabladid) argues that the Icelandic central bank should target nominal wages rather than consumer prices.
We have today published the May-edition of our Global Monetary Conditions Monitor. Argentina has been added to the countries covered in the Monitor.
The populists are losing and we have to thank ECB-chief Mario Draghi for that.
The CPI inflation increased to 2.7% y/y in April, a rise from 2.3% y/y in March. This exceeds the consensus expectations of 2.6%
We don't think we can beat the market, but we can make FX forecast that is as good as the market. What do you think?