Original title: there are central banks raising interest rates by 75 basis points, which central banks have followed the Federal Reserve to turn the eagle?
The unexpected "eagle's claws" of the Federal Reserve triggered a chain reaction among major central banks.
In the early morning of June 17, Beijing time, the US Federal Reserve announced that the Federal Reserve would raise interest rates twice by the end of 2023. Federal Reserve Chairman Colin Powell said:
"when we feel that substantial further progress has been made in the economy, we will scale back our bond purchases."
However, the Bank of Indonesia does not expect the Federal Reserve to reduce its debt in 2021, but will begin to do so in the first quarter of 2022.
After the Federal Reserve, major central banks have also expressed their positions one after another today, in which eagle words are frequent. Indonesia's central bank said:
"the policy of easing will be gradually withdrawn from the beginning of a reduction in bond purchases."
On the evening of June 16, local time, the Brazilian central bank announced that it would raise interest rates by 75 basis points and raise the benchmark interest rate to 4.25%. This is the third consecutive interest rate hike by the Brazilian central bank so far this year. At the same time, the bank has opened the door to further interest rate increases, which are expected to rise by another 75 basis points at the next monetary policy meeting in August, and even do not rule out the possibility of further rate increases.
Eiji Maeda, a former executive director of the Bank of Japan, said:
The Bank of Japan is likely to start discussing how to phase out the special stimulus package, including giving up negative interest rates, around 2023.
The BoJ may raise short-term interest rates to around 0-0.5 per cent, but this will be the withdrawal of unconventional stimulus measures rather than the beginning of the rate-raising cycle. "
McClum, governor of the Bank of Canada, said:
If the central bank's forecast is correct, the economy will need less quantitative easing. The adjustment of quantitative easing will depend on the strength of the economic recovery. Further adjustments to the QE programme will be gradual and will be carefully considered when evaluating future data and communication. "
But the ECB's dovish stance remains firm. When asked whether the ECB would discuss its bond purchase plan at its September meeting, Philip Lane, the bank's chief economist, said:
"it is too early and unnecessary to talk about this issue. After we have more and more good news about vaccination and the continued decline in cases, it is a good time to really talk about this issue. "