Crypto News Regulators 

Macau Authority Issues Cryptocurrency Warning…

“Monetary Authority of Macau reminds all Macau residents that cryptocurrencies are virtual products, but not legal currencies or financial tools” writes Rebecca Campbell for livebitcoinnews.com. In the statement, the authority wrote: The media has reported that a Macau company was involved in an ICO [initial coin offering] recently.Under Macau monetary regulations, it is forbidden for any bank or payment institution to provide services to cryptocurrency exchanges.Macau joins a growing number of authorities that are reminding residents that digital currencies such as bitcoin aren’t legal and can be linked to criminal…

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News Regulators 

Dudley says there’s still some distance to go before Fed rate policy is tight

“New York Fed President William Dudley said Wednesday there “is still some distance to go” before monetary policy gets tight” writes D C for marketwatch.com. He said he viewed the neutral real interest rate to be around 1%, which implies that the federal funds rate would need to rise to around 3% for monetary policy to be considered neutral.The Federal Reserve in March lifted its federal funds rate target to between 1.5% and 1.75%.Dudley, who plans to retire this year, said a gradual path of interest rate increases remains appropriate. Source:…

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News Regulators 

Dollar inches higher as European data disappoints

“A flurry of Federal Reserve speakers and U.S. data later in the session could also drive the dollar action on Tuesday” writes Markets Reporter for marketwatch.com. Chicago Fed President Charles Evans is due to speak on the economy and monetary policy to the Chicago Rotary Club at 1:10 p.m.A decline in the pound and euro that gave the dollar an additional push, following disappointing data.The U.S. dollar registered a small rebound against its rivals Tuesday, helped by disappointing data out of Europe and a lack of fresh geopolitical headlines. Source: marketwatch.com…

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News Regulators 

Monetary policy will remain accommodative, irrespective of a trade war, says ECB’s Coeure

“Though the central bank has recently taken a step towards policy normalization, the ECB will continue tracking data before dramatically changing its monetary policy” writes Jason Alden for cnbc.com. Monetary policy in the euro zone will remain accommodative for some time as inflation struggles to pick up, a member of the European Central Bank told CNBC Friday morning.According to the latest forecasts, the ECB expects core inflation to be 1.1 percent this year and 1.5 percent in 2019.”That’s because the economy, and in particular the inflation in the euro zone,…

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News Regulators 

San Francisco’s John Williams to head New York Federal Reserve

“Because of its historical importance in the financial capital of the country and responsibility for carrying out the Fed’s monetary policy actions, the New York Fed has a permanent voting spot on the Fed’s monetary policy committee” writes Ap Photo Manuel for washingtonexaminer.com. He also is known for producing original research, including on the “natural” rate of interest, meaning the short-term interest rate that would go along with a fully healthy economy with stable inflation.Economist and central banker John Williams will serve as the next president of the Federal Reserve…

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News Regulators 

Kuroda says the Bank of Japan is talking about a stimulus exit from stimulus

“Beginning in 2013, Prime Minister Shinzo Abe introduced a three-pronged approach of structural reform, monetary stimulus and fiscal stimulus in a bid to revive growth” writes Kim Kyung-hoon for cnbc.com. “Internally we’re conducting various discussions,” said Kuroda, according to reports, when asked about an exit strategy from its easy monetary policy.But the purpose of our monetary policy is to achieve our price target and healthy economic growth,” Kuroda told parliament. Source: cnbc.com Share This:

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Markets News 

New Zealand adds job mandate to monetary policy

“The policy target remains focused on the 2% mid-point of the inflation target band over the medium-term, Ms” writes James Glynn for marketwatch.com. Some traders were concerned the government might seek a sub-4% jobless objective, complicating the job of the central bank.Adrian Orr prepares to take the central bank’s helm this week.The New Zealand government and the country’s central bank agreed Monday to introduce an employment mandate into monetary policy while keeping inflation as the bank’s top priority, in changes that reassured markets fearful of a more dramatic move.Dominick Stephens,…

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News 

Bank of England holds rates — but split vote sets the stage for May hike

“The Bank of England (BOE) kept its main interest rate unchanged Thursday but two policymakers unexpectedly voted in favor of an immediate rate hike, boosting the prospect of rising borrowing costs in May” writes Simon Dawson for cnbc.com. In the second Monetary Policy Committee (MPC) review of the year, the U.K.’s central bank held rates at their current 0.5 percent level amid lower-than-expected inflation figures and modest improvements to wage increases.However, policymakers Ian McCafferty and Michael Saunders said economic conditions were such that now should be the time for rates…

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News 

Bank of England hints at May interest rate hike

“The Bank of England kept interest rates on hold at this month’s policy meeting but has given its strongest hints yet that rates will go up in May” writes Tim Wallace for telegraph.co.uk. Two members of the MPC voted to raise rates from 0.5pc to 0.75pc immediately.Wages are rising and productivity is still stubbornly failing to take off – factors that mean the Monetary Policy Committee (MPC) expects to raise rates in an effort to pull inflation down to 2pc in the years ahead. Source: telegraph.co.uk Share This:

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News Stocks 

FTSE 100 struggles as strong pound bears down on stocks

“A stronger pound can hurt stocks on the FTSE 100, as about 75% of revenue for its multinational components is made overseas” writes Markets Reporter for marketwatch.com. U.K. stocks fell Thursday, as blue-chips opened at their lowest level since December 2016, under pressure from a jump in the pound.On Wednesday, the benchmark fell 0.3% , hurt by losses for retailers as well as strength in the pound.Those declines largely stem from gains for the pound and the euro against the U.S. dollar, as sterling traded around its highest level since…

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