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Central banks take the stage

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  • The Bank of Japan meeting gets under way, with economic revival minister (sic) suggesting he may attend. It is not terribly usual that outsiders invite themselves along to the policy deliberations of an independent central bank, but then not many in the markets regard the BoJ as independent.
  • The Bundesbank offers us its monthly report on the state of the German economy. Given the weakness of some of the data recently, this might be worthy of attention - anecdotal evidence is often useful during periods of economic transition.
  • From the UK we have the Bank of England's trends in lending survey. With the funding for lending scheme having been in operation for some months, this data should hopefully display an ongoing willingness to lend, and perhaps a willingness to borrow (if the price is right).
  • Euro area finance ministers undertake their first meeting of the year (sadly it will not be their last). We have Spain, Cyprus and Greece on the agenda, and the delights of an argument as to how best to channel Euro funds into bankrupt or failing banks.

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