Busy doing nothing
- The reserve Bank of Australia left policy unchanged, as was widely expected, though the statement did acknowledge a concern about slower growth from China (meaning slower growth in demand for things China buys from Australia).
- Bank of Japan governor Kuroda went to the Diet to say he liked a weaker yen and would do more on policy if needed. The Bank of Japan then did nothing on policy. The extraordinary Diet session is well underway - Abenomics highlights include the cutting edge reform of removing telegraph poles.
- German industrial production likely to attract some attention after the weakening of the German PMI sentiment measure last week (beware the volatility of sentiment measures). UK industrial production is also scheduled.
- The chorus line of Fed speakers continues, with today hosting a noted dove and a sort of dove (Kocherlakota and Dudley) in the wake of noted hawk George yesterday (she was hawkish in her comments). Consumer credit is also scheduled.
Listen to the audio version of this briefing.