法国兴业银行对四大央行的政策决议做出预期

France's societe generale for four make expected the central bank's policy decisions

Recently, the market news surface, automatic spending cuts to take effect in the United States, Italy's political situation is still unstable, and this week, the foreign exchange market focus will focus on the multinational central bank interest rate decision, societe generale to Japan, the UK, Europe and Australia, make the following expected the central bank's policy decisions:

Despite the OMT plan has conditionality, European central bank will play a greater role

The bank said, expect the European central bank (ECB) in this week's meeting to maintain monetary policy interest rates unchanged. At the same time, will pay close attention to the central bank President Mario Draghi (Mario Mr Draghi) press conference speech. Mr Draghi is expected to pass a direct monetary program (OMT) on simple information, said although the use of the OMT plan will influenced by the European stability mechanism (ESM) conditions strictly, but when involving economic and banking problems, the central bank or will take more measures, may cut interest rates and to launch a new round of long-term refinancing operation (LTRO).

Societe generale, said this should come as no surprise, but the use of the OMT plan will is conditioned by perfecting the mechanism of the ESM, does not satisfy the market. The European central bank (ECB) will be in Beijing time on Thursday (March 7) announced late at interest rate decision; The central bank President Mario draghi will return at a news conference on the same day.

This week the bank of England is expected to temporarily not to take any action

According to the bank of England (indicate) announced on February 20, according to the meeting minutes of the bank of England's monetary policy committee (MPC) member of the monetary policy problem is split. We expect that the central bank to launch more quantitative easing (QE) is imminent. In addition, the more inflation fears, and the weak pound, would the central bank in this week's interest rate on hold at the meeting, February inflation report will be given accurate hinted that the central bank action.

Market is generally believed that the bank of England are expected to remain at current easing this week. The bank of England's interest rate decision will be published Thursday night 8 PM (Beijing time).

Waiting for Mr Kuroda, the boj is expected to temporarily maintain the easing remains the same

The bank pointed out that in the new governor of the bank of Japan (BOJ) before, the BOJ is expected to further easing. At present the market is the focus of attention, Shinzo Abe, Japan's prime minister, Shinzo Abe) has been nominated for the Asian Development Bank (Asian Development Bank) President Haruhiko Kuroda told (Haruhiko Kuroda) served as the post.

Market, according to the new governor of the boj is expected to fully support shinzo Abe, "economics" policy, and the new President is expected to intensify the easing of monetary policy.

This week Australia the fed is expected to stay put

Chairman of Australia (RBA), Stevens (Glenn Stevens) recently pointed out that the stimulus is ready to quite a number of interest rates. While the Australian dollar devaluation or will in this week's meeting to be an issue, but we still expect the fed will maintain a moderate tone.

Market and is consistent with the expected global risk sentiment this week will be the direction of monetary policy is the most critical driving factor. Australia (RBA) will be in Beijing time on Tuesday (March 5) 11:30 announced interest rate decision.