Halister News

--CRAYTON HARRISON

--CRAYTON HARRISON

(Bloomberg) -- Analysts say they’ll be scouring Taiwan’s first public release of central bank minutes for clues on whether policy makers are moving toward their first interest-rate increase since June 2011.

• NOTE: Central bank said in January it will start releasing minutes of its monetary policy meetings starting from June, when it held the policy rate for a fourth straight quarter
• DBS economist Ma Tieying says she will focus on comments on 2H economic outlook and output gap, a repeated focus of the central bank
  • Continued narrowing of output gap would be favorable condition for rate hike
• Barclays economist Angela Hsieh says she will look at comments on inflation, especially as currency strength may affect consumer prices
  • Market will also be concerned about central bank’s view on TWD, especially its attitude toward U.S. Treasury’s semi-annual report on FX practices
  • A rate hike in 4Q is possible if outlook for iPhone sales is positive and GDP growth reaches 2.3% as projected by Barclays in 2017
  • As the central bank has never released minutes before, markets will be curious about meeting proceedings and stance of each board member
• Yuanta Securities Investment Consulting chief economist Woods Chen says he’ll look for comments on whether currency strength has affected the local economy
  • He will also look for comments on low inflation, whether domestic demand has weakened and the impact of falling numbers of Chinese tourists
  • Doesn’t expect minutes to be too detailed this time, though they may be expanded in the future

To contact the reporters on this story: Argin Chang in Taipei at achang153@bloomberg.net; Justina Lee in Hong Kong at jlee1489@bloomberg.net To contact the editors responsible for this story: Robin Ganguly at rganguly1@bloomberg.net Samson Ellis, Sarah McDonald

(Bloomberg) -- “Of all the central banks in the world that are too easy, the Riksbank in Sweden is certainly one of them,” Eaton Vance portfolio manager Eric Stein said in Bloomberg TV interview.

• If ECB starts to consider normalizing monetary policy, Sweden’s Riksbank should follow suit
• Eaton also favors AUD/NZD, given stronger cyclical data in Australia, and likes Indian bonds and INR  
  • RBI cut interest rates today, countering global trend
• Still “pretty good value” in EM real interest rates vs DMs; EM dollar debt “a little bit frothy”

To contact the reporter on this story: Anna Windemuth in New York at awindemuth1@bloomberg.net To contact the editors responsible for this story: Boris Korby at bkorby1@bloomberg.net Vivien Lou Chen