Word: tightenings
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...really, really pleased with our effort,” Farrar said. “These guys played a passionate, ass-kicking, fiery kind of water polo, and we [just] have to tighten it up. A lot of great things happened in this game...
Three days after the Reserve Bank of Australia unexpectedly raised interest rates, the monetary policy committee of South Korea's central bank held a meeting. The Oct. 9 gathering was closely followed because the Australian move raised expectations that other central banks would also tighten. Korea held the line. Citing "uncertainty as to the economic growth path," the Bank of Korea kept interest rates at an ultra-low 2%, the result of six rate cuts over the past year...
...Chairman Ben Bernanke tried to talk up the dollar last week by declaring that the central bank would tighten monetary policy in order to avert inflation. But he also emphasized that the Fed is committed to keeping interest rates at near zero to help the battered economy. In the tug of war between those two antithetical positions, it's virtually certain that near-zero rates will win for the foreseeable future...
...large number of Chinese buyers means growth in Hong Kong's luxury-property market could suddenly cool if Beijing decides to tighten credit. Su Ning, vice governor of the mainland's central bank, said last week that China would continue its "appropriately loose" monetary policy at least into next year, but regulators have already started to clamp down somewhat. In August, total lending by Chinese banks dropped to a third of June's levels...
...purge the asset markets of speculators, which is clearly working given the deflation of the stocks bubble in Shanghai. The danger is that policymakers may tighten too much, discouraging not only speculation but also business growth and consumer spending, which could precipitate a hard landing for the economy. So far, there's scant evidence for collapse. The latest Purchasing Managers Index numbers, released Sept. 1, show China's manufacturers are continuing to rally. The index rose to 54.0 from 53.3 in July, marking the sixth consecutive month the index has been in expansion territory (over...