“I am happy to see these rises in Treasury yields because we’ve been dealing with capital inflows which are not particularly wanted.”
''The Bank of Israel last month cut interest rates twice by a cumulative 0.5 percentage point to 1.25 percent in a bid to moderate the strengthening of the shekel, and also announced the purchase of $2.1 billion in foreign currency by the year’s end. The shekel has jumped 7 percent in the past year''.
“If you have a current account which is fundamentally in balance, which ours is, then when our rates are significantly above foreign rates, we have to deal with foreign inflows,” Fischer said yesterday''
"As speculation the Federal Reserve may lower its bond-buying, yields on 10-year Treasury bonds reached 2.29 percent on June 11, the highest since April 2012 and up from a record 1.38 percent in July. JPMorgan Chase & Co.’s Emerging Markets Currency Index has fallen 4 percent in the past month as investors pull money out of developing nation bond funds".
''Fischer earned a reputation as a trailblazer as the first central banker to cut rates in 2008 at the start of the global economic crisis, and the first to raise rates the following year in response to signs of financial recovery. He also bought up foreign currency in unprecedented amounts to drive down the value of the shekel and boost exports, more than doubling reserves''.
''The Bank of Israel last month cut interest rates twice by a cumulative 0.5 percentage point to 1.25 percent in a bid to moderate the strengthening of the shekel, and also announced the purchase of $2.1 billion in foreign currency by the year’s end. The shekel has jumped 7 percent in the past year''.
“If you have a current account which is fundamentally in balance, which ours is, then when our rates are significantly above foreign rates, we have to deal with foreign inflows,” Fischer said yesterday''
"As speculation the Federal Reserve may lower its bond-buying, yields on 10-year Treasury bonds reached 2.29 percent on June 11, the highest since April 2012 and up from a record 1.38 percent in July. JPMorgan Chase & Co.’s Emerging Markets Currency Index has fallen 4 percent in the past month as investors pull money out of developing nation bond funds".
''Fischer earned a reputation as a trailblazer as the first central banker to cut rates in 2008 at the start of the global economic crisis, and the first to raise rates the following year in response to signs of financial recovery. He also bought up foreign currency in unprecedented amounts to drive down the value of the shekel and boost exports, more than doubling reserves''.
