Investing.com - Financial Markets Worldwide

Monetary Base Target Expansion Expected To Stay At JPY60-70trn P.A.

ByDanske Markets
Published 06/10/2013, 08:37 AM
Updated 05/14/2017, 06:45 AM
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Euro area Sentix investor confidence will provide a first impression of market sentiment in June. We expect a continuation of the signs given by last week's PMIs that the worse may be over in terms of economic recession in the euro area.

In the U.S. session, Fed speeches are still being scrutinised for signs of an imminent scaling-down of the Fed's asset purchases after the May job report released on Friday afternoon left timing of QE tapering open. Fed Bullard, who is considered to be dovish, will be speaking.

The Bank of Japan (BoJ) has started its two-day monetary meeting, and will announce its decision early tomorrow morning. The BoJ will most definitely discuss a possible response to the recent volatility in financial markets. One option is to extend the eligible maturity of its fixed rate operation from one year to two years to anchor the short end of the yield curve. The target for expansion of the monetary base is expected to stay at JPY60-70trn annually.

We expect Norwegian inflation to have moderated in May in line with Norges Bank's projections, and Danish CPI to tick slightly higher. We will be looking for a correction in Swedish orders in May.

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