The hottest economy continues to recover, and the

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Sustained economic recovery global policy exit "getting better"

sustained economic recovery global policy exit "getting better"

China Construction machinery information

Guide: the sustained economic recovery makes global policy makers who are struggling to retreat or not retreat more confident. Recently, the major central banks led by the Federal Reserve have sent signals of tightening ultra loose policies in various ways. Following the unexpected increase in the discount rate last week, Federal Reserve Chairman Bernanke

the sustained economic recovery has given global policymakers who are obsessed with "returning or not returning" more and more confidence. Recently, the major central banks led by the Federal Reserve have sent signals of tightening ultra loose policies in various ways. Following the unexpected increase in the discount rate last week, Federal Reserve Chairman Bernanke will "hold a meeting" on Wednesday and Thursday and issue a semi annual monetary policy report. It is expected that the authorities will elaborate on the consideration of the exit strategy at that time

in Asia, it is reported that the Bank of Japan will terminate a number of economic stimulus measures in April. Several Asian economies released strong economic growth data yesterday, which further strengthened the market's expectations of policy exit

Last week, the Federal Reserve unexpectedly announced that it would raise the discount rate by 0.25 percentage points. Although the financial market soon digested this measure, this move caused all kinds of speculation and anxiety in the industry

as usual, on Wednesday and Thursday, Federal Reserve Chairman Bernanke will go to 7. The manhole cover pressure fatigue tester will adopt high-precision, full digital speed regulation system and precision reducer; The Senate and the house of Representatives testified on the semi annual monetary policy. Predictably, lawmakers will ask Bernanke for a detailed explanation about the unexpected increase in the discount rate last week

according to the arrangement, Bernanke will testify before the Financial Services Committee of the U.S. House of Representatives on Wednesday and the Financial Services Committee of the Senate on Thursday. The market is paying close attention to what hints and signals Bernanke will give on the future exit arrangement

although the increase in the discount rate was not completely unexpected to the market, after all, the Federal Reserve had previously disclosed this information, but the action was so fast that most people were surprised. Some analysts believe that this is the first step of the Fed's comprehensive exit policy

however, many people are not satisfied with the Fed's measures. Mirza, an associate professor of economics at Loyola University in Chicago, believes that the fed only raised the discount rate by 0.25 percentage points, which is a negligible increase. He believes that the Fed's intention this time is not to raise interest rates, but to convey a message to the market that if inflationary pressure increases, the Fed will raise interest rates

this view also coincides with the Fed's own statement. In its statement on the 18th day, the Federal Reserve repeatedly stressed that raising the discount rate is just one of the actions of the Federal Reserve to normalize the lending mechanism. Since the increase is only for the emergency loan interest rate of banks, it will not have a negative impact on American people and corporate loans

dilemma between Japan and Europe

insiders pointed out that the continued improvement of the U.S. economy is an important reason why the Federal Reserve dares to release more tightening signals. A survey released on Monday showed that American businesses are more optimistic about economic growth in the coming year

the National Association of Business Economics expects to achieve a green cycle in the whole life cycle. In 2010, the GDP growth of the United States will be 3.1%, higher than the 2.9% estimated by the organization in November last year. The growth rate in 2011 is expected to reach 3.2%

the same thing happened in Japan. With the gradual recovery of the economy, the Bank of Japan stopped buying corporate bonds and commercial paper in December last year, and may stop the stimulus measures taken to reduce the three-month lending rate next month

Japanese media reported on Monday that the central bank would end five of the six market rescue measures as early as next month

in response to the financial crisis, the Bank of Japan launched a series of unprecedented economic stimulus measures from December 2008 to April 2009, including the acquisition of corporate bonds and commercial paper to support the liquidity of the banking industry

it is reported that the Bank of Japan will end the above acquisition measures in April. At present, the Nikkei index has rebounded from around 7000 points in March last year to above 10000 points, and there are signs that the profitability of Japanese commercial banks is gradually improving

however, if the Bank of Japan wants to take more radical tightening measures, it has to pass the government's test. Hatoyama's government, whose approval rating continues to decline, is constantly putting pressure on the central bank to postpone the withdrawal of the stimulus policy

Japanese Prime Minister Yukio Hatoyama reiterated on Monday that the government hoped that the central bank would "reasonably" formulate monetary policy to combat deflation. Hatoyama said in parliament that the government will take all means to combat deflation, and the monetary policy is decided by the Bank of Japan, so he "sincerely hopes" that the central bank will formulate policies reasonably

Japanese Finance Minister Naoto Kan also expressed a similar view at the meeting. He said he hoped that the Bank of Japan would take further measures to combat deflation

in Europe, the European Central Bank will announce on March 4 how to lift the emergency lending measures launched during the financial crisis. However, for eurozone policymakers who are still busy dealing with the Greek debt crisis, it is by no means easy to exit. Palermo, a member of the Executive Committee of the European Central Bank, said a few days ago that the central bank would not suddenly withdraw its support measures, which would surprise the market. He said that the authorities would gradually withdraw all stimulus measures

Asia faces exit pressure

Guan Jiaming, an Asian economist at Standard Chartered Bank, said yesterday that for the three major economies, including the United States, Europe and Japan, it is unlikely to withdraw from quantitative easing monetary policy soon, and most developed economies will experience a difficult and long recovery journey. The bank expects that the three major economies may not raise the current low interest rate level in the next year or even longer

in contrast, emerging economies with faster growth, especially Asia, seem to be facing greater exit pressure. The latest data released on the 22nd showed that driven by China's strong economic growth, the Asian economy continued to lead the global recovery, and many regional economies successfully emerged from the recession in the last quarter, with growth rates generally exceeding expectations. In other words, Taiwan, China's economic growth in the fourth quarter of last year reached the fastest level in more than five years

the national economic and Social Development Commission of Thailand announced on Monday that thanks to the improvement of exports and the increase of tourism revenue, the country's GDP increased by 3.6% month on month and 5.8% year on year in the fourth quarter of last year. Last year, the Thai economy shrank by 2.3%. The above data exceeded expectations, and Thailand's GDP growth in the last quarter was also the fastest in seven quarters. The Thai Finance Minister also said on the same day that the country's economic growth rate is also expected to exceed 5% in the first quarter of this year

Taiwan, China also released the economic growth data of the previous quarter on the same day. The results showed that in the fourth quarter of last year, Taiwan, China's economy grew by 9.22%, not only far exceeding market expectations, but also hitting the fastest growth rate in more than five years. This is the first time that Taiwan, China's economy has "turned positive" since the second quarter of 2008, with a growth rate of 9.22%, and the fastest growth record since the second quarter of 2004

Stephen Kaben, an analyst at DBS group, said that the recovery of Asian economies was at least two quarters ahead of that of the United States. Therefore, the local monetary authorities may also consider the exit strategy earlier than that of the United States

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