ny-jp.com/index.home.naru_yoshida.P4.

Monetary policy differences, see Euro pound internal strife

October 6, 2011

A great deal of attention of the United Kingdom's Central Bank and the European Central Bank interest in October on the meeting of the euro, pounds currency brings the opposite trend both risk guidelines. The former's surprise announcement significantly expand the scale of easing the latter decided to reopen refinancing operation ease the liquidity shortage situation. Risk currencies GBP the euro immediately staged a round of internal strife.
On Thursday (October 6) period in early trading in New York, GBP/USD reached 1.5273 levels after the 15-month low of slightly warmer, now the exchange value of traded in the vicinity of 1.532 level. Exchange value had dropped nearly 200 points within an hour. EUR/USD fell slightly at one point the pound tumbled down and, but then the jinshu to regain lost ground, near the current exchange value of traded at the level of 1.333. EUR/GBP at one point climbed to a high level of more than 1 week 0.8713 United Kingdom Central Bank's monetary policy Committee (MPC) in October on the interest rate meeting on Thursday to maintain indexes interest rates unchanged at 0.5%, as expected. But the Central Bank at the same time to expand the scale of quantitative easing to 275 billion pounds move the markets by surprise. The Central Bank decided to raise the QE scale from 200 billion pounds to 275 billion pounds. The debt purchase plan will be held on October 10 the week cycle, and took 4 months to complete.
MPC announced that generally, the United Kingdom's Central Bank carried out 3 times a week purchased debt operations: every Monday to buy the remainder for 3-10-year United Kingdom Government bonds every Tuesday to buy the remainder over 25 years of British debt each Wednesday to buy the remainder in the 10-25 between the British debt. Central Bank plans to balance the 3 types of bonds are purchased operations.
United Kingdom's Central Bank also said that in the context of a global economic slowdown, United Kingdom economy under serious threat, Bank funding markets also face significant pressure. Bank funding markets nervous or would impede the availability of credit. On inflation, United Kingdom's Central Bank said United Kingdom inflation would rise in the short term break 5% next year, it may come down quickly. Weak economic prospects will make it very likely that inflation fell back to 2% below.
Canada Imperial Bank (CIBC), currency strategist at Jeremy Stretch said, "the United Kingdom's Central Bank to take drastic action. The Bank asset purchase plan size increase of 75 billion demonstrates the economic uncertainty degree of and they feel pressure faced by global market size. This shows that the United Kingdom's Central Bank would become aggressive in the future. Apparently pound is completely bad. ”
Jefferies International Ltd David Owen, an analyst said that "the only surprise is the timing, we expect the Bank of England to action in November. Another surprise is that GBP 75 billion scale, which began in March 2009 when the quantitative easing policy obviously scale, equivalent to the gross domestic product (GDP) of about 5%, so is quite large. ”
The European Central Bank: refinancing operations carry out soundless lubrication
Compared to the United Kingdom Central Bank's aggressive policy, the European Central Bank (ECB) is much more modest, earlier in October the European Central Bank interest rate resolution, the Central Bank announced the target interest rate unchanged at 1.5%, as expected.
The European Central Bank President Jean-Claude Trichet (Jean-Claude-Trichet), said at a news conference after the meeting, the European Central Bank will put 12-month refinancing operations, and primary and secondary market to buy covered bonds. He said that our monetary policy decisions are non-conventional measures, but also pointed out that all the non-standard measures were temporary.
Trichet announced that the Central Bank will implement two longer-term refinancing operations, launched in October and 12-month refinancing operations, refinancing operations will be maintained about 13 months. He pointed out that the new refinancing operations fixed rate will be taken in full allocation. In addition, the European Central Bank will buy covered bonds in the primary and secondary markets.
Jean-Claude Trichet called, short-term rates low immediately decided to maintain indexes interest rates unchanged is appropriate. All members unanimously decided to maintain the target interest rate unchanged, however, unanimously adopted a decision does not mean that there is no objection. He said, the European Central Bank discussed the pros and cons of interest rate adjustments and other initiatives.
Analysts said that Jean-Claude Trichet understanding of inflation is still high, the market interest rate cuts expected to be suppressed, component support against the euro. However, downside risks to economic, still cause the euro under pressure. Although the euro Daily low rebound, but its downside risks still, within days is expected to be volatile as the principal.
http://forex.hexun.com/2011-10-06/133961326.html

IMF Europe head: restructuring of the European banking industry cost 100 to 200 billion euros

The International Monetary Fund (IMF) head of European Department said on October 5, Europe needs 100 to 200 billion euro bank funds to restructure the region's capital, to win back investors ' confidence, and should, in all of Europe carried out this plan, not staggered.
October 5, 2011

The International Monetary Fund (IMF) Antonio Borges, head of European Department on Wednesday (October. 5/2011) said Europe needed 1,000 to 200 billion euro bank funds to restructure the region's capital, to win back investors ' confidence, and should, in all of Europe carried out this plan, not staggered.
Borges said the IMF believes that with the European capital markets and financial stability in the European institutions (EFSF) after capacity expansion compared to the financial capacities of these funds is very small.
He said that if Greece demonstrated in solving debt problems wishes IMF satisfaction, IMF "participation" for Greece's second round of the assistance programme.

http://forex.stockstar.com/IG2011100500000924.shtml

United States votes "punish" Bill of RMB exchange rate, October 04, 2011
Such as the rapid appreciation of the Renminbi, or Chinese SMEs to their knees into the "last straw"
The slow economic recovery, high unemployment and debt crisis will spread risk, for United States Congress again selected from overseas to find "scapegoat". United States Senate at 3rd on the relevant local currency to vote on the Bill to punish the acts of the so-called Chinese currency manipulation.
Punitive tariffs proposed
It was one of the sponsors, the Senate Democratic Leader Reid said is confident about bills passed.
The proposal, if passed, the United States Treasury must be a "currency manipulator" its currency artificially low subsidized exports. Once the United States in any industry can justify being "material damage", will be able to impose punitive tariffs on such products; the proposal also argued that exchange rate reform and governance reform of the International Monetary Fund linked to, which in turn could deny that the country's market economy status.
Participants in this proposal, Michigan Democratic Senator sitabilao said, "China's ' currency ' directly affected United States employment. An effective solution to this problem is good for United States job market, and that the cost is not high. "After two weeks of silence on that particular proposal, United States White House spokesman said recently that Kearney, the White House is" review "of this proposal. “
Some KMT members involved in the proposal that the Yuan is undervalued by 25% per cent, which makes the Chinese companies in international trade, with "an unfair price competition advantage". Chinese Foreign Ministry spokesman said the Chinese side urges the US side not due to economic issues within the United States and the Renminbi exchange rate issue into a political issue, do not find an excuse to engage in protectionism in China.
Obama or against the case
The Chinese Government and the influential United States enterprise groups were opposed to this motion. United States 51 business groups had previously sent a letter to Senate leaders warned that unilateral action against China will lead China to the United States imposed retaliatory of goods exported to China, might be in violation of WTO rules, to the United States increased employment and almost no help, because even forced appreciation, commodity of some other low-cost manufacturing countries also will fill the Chinese in the United States market vacancies.
White House spokesman Kearney told the media last week, the Obama administration is assessing the motion, had not yet decided the official position, but Schumer and others have asserted that Obama opposes the case.
Motion between the Republicans two presidential candidates also caused disagreement. Governor of Texas, Perry objected to the motion, his campaign aides said: "this is a free trade issue, Perry did not support this motion.”But another candidate former Massachusetts Governor Romney promised, if elected will take tough measures against Yuan.
(Comprehensive Xinhua News Agency, Jiefang Ribao) "international observation" small and medium enterprises survival may be more difficult to
The move took the currency for a long time, although the United States Treasury Department has always been not to label China a currency manipulator, but that the noisy but there have been long term. Experts believe that the United States move will not only affect Sino-US relations interests of some members, but will have a negative impact on the world economy in a difficult recovery, or even lead to serious consequences. "This is a pattern.”China's foreign exchange investment Dean Tan Yaling says," employment rate is a domestic problem, associated with pay, employment structure. Renminbi exchange rates not caused United States reasons for high unemployment, United States should reflect on their own. ”
United States debt crisis not to evade problems: we would like to take two rounds of quantitative easing in mitigation of economic difficulties, have had to face weak economic data, capital flight to push up the index, and the fact that the high unemployment rate. Standard and poor's downgraded early August United States credit rating, followed by large-scale protests on Wall Street "greed of capital", Capitol Hill, "anxious seat". "The United States is the fundamental issue of eat the food stored up for the next year, dependent on financial instruments and over-indebtedness. "Cao Honghui Academy of social sciences, financial experts say," challenges and sought ' victim ', and not from their own to find and solve problems, not a wise move. ”
Exchange rate fluctuations were life difficult by many Chinese export-oriented small and medium enterprises. Experts believe that the recent medium and small enterprises in Zhejiang Wenzhou master absconded, business failures behind phenomena such as, hidden problems not only for domestic lending channels, as well as the international environment changes, business scope to deal with awkward. Wenzhou SME Development Association Chairman Zhou Dewen says margins almost below the loan rate of SMEs, such as the rapid appreciation of the Renminbi, or these companies to their knees "final straw".
http://news.sina.com.cn/o/2011-10-04/011023255530.shtml

This discussion of the eurozone Greece "saving money" issue
October 03, 2011
[World Chinese wealth] Greece crisis continues to ferment and affects global investors. Local time on October 3, the euro-zone finance ministers in Luxembourg meeting, the first question is whether it agrees to Greece to discuss aid loans issued a new round of 8 billion euros. Analysis says that the outcome of the discussions on Greece's debt and that of the eurozone sovereign debt process is critical if the Conference on assistance to Greece to agree, the euro could expect to be supported.
Although the "Greece" spent weeks of life and death his Government survived, but risks remain on the European debt crisis. It is reported that Greece confirmed will not be able to reach the European Union and the International Monetary Fund (IMF) budget deficit goals set. Greece According to the Government, now from only 3 months to the end of 2011, even if is a national of national mechanisms and the appropriate response, will amount to 8.5% the final deficit/GDP ratio is expected, and the destination is 7.6%. 2012 this proportion decreased to 6.8%, the target is 6.5%.
Moreover, Greece Cabinet the night of October 2 decision to cut 30,000 State workers by year's end, in order to save about 300 million euros of expenditure, to address the severe debt crisis.
In Greece and approved by the Cabinet to layoffs, 2nd part people continued to meet in the capital city of Athens center square protest, against the decision of the Government. Greece main unions decided on 5th national General strike. Analysis pointed out that Greece may want to pass the layoffs in exchange for 8 billion euro financial assistance from the international community, because without this aid, Greece in October the Government be run out of money. However, this approach could lead to mass demonstrations in protest of the population, or even detonate Greece political crisis, the European debt crisis into a more complex and difficult situation.
Even the United Kingdom Prime Minister stressed that the region's problems not just threat of use of the pound of the United Kingdom, also a threat to the world economy. Cameron 2nd that must be in the next few weeks to take action to strengthen the European banks of the Constitution, defense and established the euro, must also be debt problems.
European Finance Ministers ' meeting will be held on 3rd in Luxembourg, primary topic of this meeting on whether to agree to Greece issued a new round of 8 billion euro aid discussions. Analysts pointed out that, in euro assets under the background of confidence continues to decline again, the results of this meeting the euro towards the more critical, if the Conference agreed the euro could expect to be supported, whereas euro could face further downside risk.
Investor concerns over the eurozone debt crisis-solving skills impact last year in the euro-dollar third quarter largest one-quarter drop since the second quarter, euro or will remain under pressure this week. Although the market gradually digesting Greece debt default could help euro limit decreases, but as most investors are still hope there will be no defaults, this means that the euro could fall of space.

In addition to euro-zone Finance Ministers meeting in the early weeks, risk event this week also includes the European Central Bank's monetary policy meeting on Thursday and Friday of the United States payroll reports, whether further deterioration of the European debt crisis, the European Central Bank to open doors to cut interest rates or the United States concerns about increasing economic growth, is likely to depress the currency market risk sentiment, and to curb the euro.

Germany commercial banks (Commerzbank) Forex technical analyst pointed out that the euro-dollar is testing 1.33 support level, if they fall, short goals will be further links to 1.286 2010 low level.

Beijing 18:55, euro-dollar 1.3366.
http://stocks.caixun.com/content/20111003/NE02uv9d.html

"The central China investment and Trade Expo central China development financial Forum" held in Taiyuan City, Shanxi province on September 26, 2011.
SINA finance hearing "the central China investment and Trade Expo central China development financial Forum" held in Taiyuan City, Shanxi province on September 26, 2011. On the map "financial boost resource-based economies in transition" dialog.
For record of the Forum:
Qiao Zhijie: I invited my guest, I would like to invite our Finance Office of the Director, I do not know is it possible, Guo Director I want to invite you, because we are talking about finance in transitional conditions how to play a greater role, away from the Finance Office, how do we discuss it? To applause, hope Director Guo can also participate in our discussion, let us hear what the Government attitude, there will be somewhat the Government intended to, the enterprise in the future the process of transition, financial support and help to get what, once again, thank you officer Guo you agree, I invite, thank you for your applause.
In here I on describes about I today of invited guests, are is a bunch of very handsome of men, first to describes of is Peking University Guanghua Management College of Vice Dean, today I in midday see he a sat down is a group of alumni, this is happiness, applause now Peking University Guanghua Management College Vice Dean, while serves as Lingnan College Dean Xu, Xinzhong Dean, I in here has a large heap on he of describes, simple to told is one scholars, is one in financial enterprise self-care aspects made huge contribution of expert scholars, we please he seat.
Director is the local Chief, officer sits in the middle.
I'm going to introduce the Shanxi securities Bureau Deputy Director, Enterprise listed applause rang, Zhao Zhiming Secretary.
There were three guests, one is the investment banking division of China international finance company Chief Executive Chen Bin.
Here is just now has already met with you Mr. YEUNG Kwong, Chairman of financing and sources of capital, we would first like to congratulate him, Director said a moment ago, Mr. YEUNG Kwong in Shanxi's new green energy industry development fund, I believe he will certainly boost our industry financial.
Here is the most handsome, and is a partner in our topology equity funds, Wang Hai.
These are senior financial experts, just now Mr. YEUNG Kwong was introduced, two officials I will not describe, you all know, President, College, Guanghua College is China's leading ranking in many respects, even that there is a world leader, this President to visit us, we are very honored. Our Chen Bin, Mr. Yang Guang are long-term financial investment, I know Wang Hai was from overseas, employment is back and Mr. YEUNG Kwong in overseas investors have done for years, today returned to China we found still more attractive country.
In fact, many years ago, I have attended in 2009 before reform and opening up in Shanxi 30 year celebration, that topic is the transition, I do not know to this day, go how was it? That time can leave the financial building on Shanxi's economic transformation of a promotion, but it is regrettable that, 2009 opening of the meeting, today I say to when talking to finance Office, Shanxi Finance Office of the newly established did not take long, it is a pity.
Shanxi is actually a great Shanxi, we sit in this place on financial, we are proud of, you know? Talk about the world financial, China was very backward, but the financial sector is to create of Shanxi people, do not forget. Dang those foreign devils were also to in Pocket in with gold, in road fear was robbery of when, Shanxi people can took a Zhang paper traveled world, this is Shanxi people created of, financial sector I has been think it is development Yu China of, but we in here wanted to told all of guests, we backward has, we in financial sector of construction aspects is backward has, it of backward on led we China now faced with some embarrassing, I is clearly China in this world Shang, we should is most rich of national has, we has 30,000 more billions of reserves , We of civil savings deposits, China has sanshiduowanyi, Shanxi are has nearly 2 trillion of savings deposits, alone we also has huge of financial reserves, but regret of is, China all of SMEs, I is do financial of, almost China of SMEs development real was of obstacles is not elite, and is not management, and is not technology, and is not talent, even is not market, they real of hinder and obstacles precisely is financial, precisely is funds, so we found we is a is rich of national, But all enterprise development subject to financial. We now has a huge of funds demand market, almost in development of enterprise are has huge of funds demand, they was does not to meet, we also see has we has a huge of investment demand, on in Shanxi, I told a real of story, one entrepreneurs with I visit has he of garage, eight Taiwan Deluxe car, I also understanding has, but which has two Taiwan Hummer, I does not understanding has, so I asked has, this is you Shanxi of enterprise, you dry why to buy two Taiwan Hummer does? He said, my garage two doors of a Hummer is too high, any car right next to the ugly, put two Hummers look good, this is Shanxi people. So I said how could you spend it? He answered me in a Word, I can't answer, and he said Qiao Zong, not spending money and what should I do? You tells me, me one hundred million savings, free do? So I find that our consumption of disorder, what should I do? Should be to create space for their wealth, but we don't, our savings deposits, and now in accordance with the CPI calculation, we have lost money, we have no other tool, this kind of situation will lead to a huge demand for investment and a huge capital needs facing both embarrassing across the ditch. We solved this, this is the economic restructuring, Shanxi is not short of money, but money worries all the enterprises in Shanxi province, was embarrassed.
I is happy please to has so more of expert, they common and I discussion, in new of Shanxi development among, financial can play what of role, course this is is I just said of, first we first please financial Office of Director describes about Shanxi future in financial development Shang of idea and Affairs, we next will will has what of initiatives promoting Central such a large province of financial development.
Applause please for our officer, officer I free-Wheeler, however thinks of guests we want something they hear something better.
Guo Baomin: nice temporary points me to participate in this dialogue, said earlier that the Government attaches great importance to financial work, how attention to law? Has a institutions this year just was born, this is Shanxi province people's Government financial work Office, this financial work Office has a province called financial service Office, some called financial work Office, some Province called financial work Council, Shanxi we do financial work Office of when do has a brand, do out yihou found than other Governor out a cm, I think first to play role, second to full, third to has broad of market.
Provincial party Committee and Government's attention to financial work, especially the new session of the provincial party Committee and Government, the importance of this team was unprecedented, Yuan to Shanxi last year served as Party Secretary, Secretary, 729 cadres in the General Assembly was convened, the cadres used on a lot of space to the General Assembly stressed the importance of financial, talked about the importance of financial innovation, also spoke of the urgency to form financial Office. 729 cadre after the General Assembly last year, cadres ' significant changes have taken place in the year, financial boost to the economy has also played the role went to great lengths to role up to now we can see, Shanxi's development over the financial crisis at trough levels. Members may recall that three years ago in the wave of the global financial crisis, some provinces are entering a very quick speed, 8.1%, or negative in the first quarter, we in the second quarter was-5.1%, our third quarter was zero, just 1.5 years’ time, we all return to pre-crisis levels or is exceeded. Positioning of Shanxi province life early this year GDP is 12%, why the country is 8%, and we are the 12%? We feel to have a greater speed of development, is not keeping up with the national level, our provincial revenues reached more than 150 billion in the first half, was also a very good development in the second half. In financial crisis most highlight, problem most serious of moments, provincial, and provincial government to keen of vision do has a we feeling to very glory of things, is coal resources integration, Shanxi Province more than 4,000 more seat coal mine, now currently integration for more than 1000 more seat, we of Office mine main by more than 300 more than integration for more than 100 more than, two pieces thing is about to in Shanxi farewell history, a is coal boss will no longer exists, then a is coal mine disaster does not appears. Now Shanxi of 900,000 tons to 1.3 million tons of coal mining, because more than 90% implemented for General mining, so that large-scale mining accidents will not happen again, at present, the mortality rate is lower than the national one-fourth.
Results of these efforts in the province at the same time, also benefited from financial helped we Shanxi finance concerted efforts, I think to play a better role in transformation and development.
A loan is through bank loans last year, the province 180 billion in lending large numbers, this is a concept? 180 billion is equivalent to the concept of levels in the same period a year earlier, it's growing faster than the national average, in the situation of macro-control this year, provincial party Committee and Government put forward the "two are below the" goal, one was our money from the banking system, cannot be lower than last year's levels, as our growth rate cannot be lower than the national average level, this is one aspect.
Moderator said just now, in Shanxi province in financial reform and innovation and support the transformation of Shanxi, what are the thoughts and ideas? I think there are so few, first in terms of financial support to a three-pronged, loans of the banking system credit, would vote will vote, on the other hand to increase the direct financing of the whole market, to market to find the funds to support transformation of Shanxi and across. Currently 2 trillion of deposits in the banking system in Shanxi province, where saving 1 trillion, but the real into loan size of 1 trillion, US 3 trillion, 2 trillion is the deposit, 1 trillion loan, there are reserves of 1 trillion in addition to the right, in addition to banks outside the secondary reserve and purchase of bonds, one-third money doesn't play a role, we must, through the market to guide to areas of the market.
3rd innovation, innovation is the soul of a people, also in central China, Shanxi region and accelerate the transformation of the fundamental way out for leveraged and important. What are the innovations we take initiative? Banking system has a lot of products, we must make big banks from other provinces, we have to, banks and some from other provinces, we would also like to gifted, provincial Bank does not have, and we should be updated. On Shanxi's head is a Halo, which against the "Shanxi" such a history honours, but the history of Shanxi merchants is magnificent, today's Shanxi is heavy, so we are very responsible mission critical. In financial institutions of reform aspects, we currently financial system comparison sound, State-owned bank, and policy sexual Bank, and joint-stock Bank and local financial institutions has formation has categories complete of financial institutions of system, but this far enough, we next also to build Jin commercial of aircraft carrier, build Jin commercial of local financial institutions, is to in local of financial institutions aspects has large of as, increased Jin commercial bank of reform, promoting rural credit associated press of development, while we to support country credit group do strong big.
There is also a field, we have to develop microfinance companies can lead to absorb private capital, play the role of rural security. Currently has a microfinance company in Shanxi Province more than more than 200, the total amount of capital and lending 10 billion, although it was small, but its play two roles. First it play has 42 dial pounds of role, it in rural up to has a lever role, second a role is in widely of rural area, produced has a new of competition mechanism, due to it of shortcut and efficient, to rural area added has new of competition partners, so said it of role is also future we to boot normal and science development of area, this is in institutions aspects.
At the same time in support of economic development, we would also like to play a policy role, play the role of talent. At present, the provincial party Committee attached great importance to financial, in my opinion on the financial importance is indeed unprecedented. On January 7 this year, just after new year's provincial leaders on leadership with the banks and held a higher specification, large industry conferences, I think the history of, it is because of provincial party Committee and Government attach great importance to, helps our current loan 120 billion in the first half of this year, only put 10 billion less than a year earlier, why is there such a result? This reflected in provincial, and provincial Government of attention Shang, while in SEF during, charge financial of leadership and high frequency to visit has all home joint-stock Bank, and securities company, and silver prison will, and insurance regulatory Commission, members know in last month provincial, and provincial government with has two a Shanxi delegation in long triangle, and Shanghai, and Nanjing merchants introduction funded of when, and high frequency to visit financial institutions, as government leadership in taking time out of among, in busy of affairs among, why can high frequency, and careful to visit financial institutions, this reflected has a on financial of attention degree , Reflecting the expectations of our future development in Shanxi province.
So today of time is valuable, members meeting is tired has, I do not want to occupied more of time, we as a Government of-do institutions, has confidence to coordination financial resources, coordination financial regulatory institutions, coordination all home Bank and we of securities company help push development, while in here we also is willing to, and is happy to members release a message, is early provincial government on we financial sector made major contribution of institutions award 10 million, I understanding to of in national speaking is few of, Next we need to explore how we introduce financial talent and retain the best people and talent, taking into account the high level of tax refund. The largest reflecting this year's festival organized by the Finance Office, Shanxi national exchange of cadres, we carried out a Golden Autumn reception, thanks to the financial sector and financial institutions support, this is a major expression.
I have said here, thank you.
Qiao Zhijie: thank, I allowed advocates took office Director Guo's right? Thanked the Director, how rare an opportunity to tell you the meaning of Shanxi Government on financial, in fact, it is not lagging behind, especially after the Secretary to the Yuan, there are so many thoughts and ideas, give me the impression that the attention and confidence, but also a little bit of regret, Director, what do you know several of you sitting people? Are is fund investment home, financial investment home, you see Shanxi financial of development, talked about has joint-stock Bank, and State-owned bank, are is industry Bank, even we talked about has capital markets of directly financing, we talked about has small loan of development, actually financial system Middle has a very huge of tools, in this world Shang and commercial banks must par of is investment bank, but I means of is equity funds of Investment Bank, you know Goldman is investment bank, it of scale never is less than you by know of Citi, and HSBC, in fact, I think that the future of the financial system construction in Shanxi should be to develop new financial, development tools we really leveraging private capital investment, is a private equity investment funds. http://finance.sina.com.cn/hy/20110926/173310541965.shtml

August M1B growth down to 7.44% death cross approximation by The Central Bank of Taiwan.

2011-09-26

The Central Bank of Taiwan announced on 26th, August influence of foreign exports in the global stock market crash, as well as investment and bank lending slowed, August M2 and M1B annual rate dropped to 7.44% and 6.16%,M1B years respectively increase rate continues to decline, although market fears of "death cross" has not yet appeared, but M2 and M1B gap further narrowed.

Central banks today announced the August financial situation, August M2 and M1B few months total average daily currency rate and 1.74% respectively are more last month as high. M2 and M1B annual rate was down to 7.44% and 6.16%,M1B respectively below the M2 "death cross" has not yet appeared, however, the July M2 and M1B annual rates of increase are respectively 7.6% and 6.18%,8 month M2 and M1B annual rate further narrowing of the disparity. In addition, the cumulative average annual rate in January-August this year M2 and M1B and 8.4%, respectively.

Central Bank Economic Research Department Vice Director Chen Yiduan said, August foreign export has 8.022 billion dollars, led M1B and M2 years increased rate fell, but while people funds also has return of situation, for example overseas Fund of redemption, plus August listed Cabinet company issued has up to 514 billion yuan of dividend, foreign although sold Super Taiwan unit, but still has dividend income, therefore and July compared to, August M1B and M2 are more last month rose.

For Greece and the European debt crisis that, Chen said at one end, the Central Bank of Greece defaulting scenario building, if the Taiwan financial industry holds a lot of European debt, risk is great, but as far as central banks know, Taiwan banks holding European debt position is not high, particularly little parts of European government bonds, so a limited impact. However, the Taiwan economy depends on foreign demand, Europe will still be affecting Taiwan, such as the August exports reflect this phenomenon.
http://bar.cnyes.com/html/8CE4AC76D38137C.shtml

NZ dollar will rebound,

Rob Hosking | Friday September 23, 2011 The New Zealand dollar is still hovering below US79c as investors head for the safe haven of the US currency.
The dollar took another tumble this morning below US78c but then stabilised in the mid-morning at around US78.20c.
From New York, Finance Minister Bill English was reported as welcoming the news as relief for New Zealand exporters.
Reserve Bank governor Alan Bollard has been repeatedly telling financial markets the New Zealand dollar is too high and even though it is helping keeping a lid on inflationary pressures the high value of the currency against the US dollar was having a “dampening effect” on economic growth.
The fall in the New Zealand dollar, which began in the early hours of Thursday morning New Zealand time and took another tumble overnight, is more due to global nervousness than the local economy.
The fall hit other smaller economies, especially those strongly based on commodities, with the Australian dollar falling below parity with the US dollar.
Even normally safe haven commodity prices, such as gold and oil, fell this morning.
“This is about risk aversion, and a lot of peripheral currencies are being negatively affected, if I can put it that way, ” said ASB Bank economist Christina Leung.
The fall would be welcomed by New Zealand exporters but the New Zealand dollar will probably not stay this low for long, she said.
“What we’re seeing now is a lot of nervousness and uncertainty and New Zealand and Australia are seen as risky assets, so demand has fallen for them as people move back into the US currency.”
The paradox – that the flight to the US currency comes following a negative report about prospects for the US economy – is due to the fact there are no other safe havens for investors to move into, she said.
“There is not really any other asset to replace the US currency. The alternatives are pretty sparse out there. New Zealand, in terms of economic growth, is not doing too badly compared to most other economies, but with the kind of uncertainty that’s out there at the moment investors look for safe havens.”
But the underlying strength of the New Zealand economy means the currency will probably pick up again, she said.
Prospects for growth mean “the dollar should stay relatively high – we have it holding up above US80c again.”
http://www.nbr.co.nz/article/nz-dollar-will-rebound-says-economist-rh-101012

September 22 – after a two-day monetary policy meeting of the Federal Reserve,

launching a widely expected by the market "reverse action", but did not mention the third round of quantitative easing monetary policy (QE3). However, in the United States under an economic recession risk rising for the second time, is widely believed that torsion action inadequate, end the Fed may still push the QE3.
United States Federal open market Committee (Federal Open Market Committee, referred to as FOMC) after the end of a two-day policy meeting, introduced the "reverse operations". Fed in by June 2012 bought 400 billion dollars remaining expiration time 6 to 30 between government bonds, and sell expiry three years or below treasuries.
Pushing the move through low long-term rates to bolster economy. But this is not as quantitative easing monetary policy that would increase the money supply.
Already worried about economic recovery of the market participants said they expressed doubts about reversing the long-term effectiveness of the operation. And the Fed interest rate according to a survey by the resolution, a junior market traders bet that the Fed "sold short bond buying long debt" reverse operation significantly boost the economy is highly unlikely.
Under high frequency economics research institutions (High Frequency Economics), Chief United States Economist Ian Shepherdson believes that introduced by the Federal Reserve to reverse the action in line with expectations, but the real problem is that this is the key to solving the problem?
He said: "interest rates and the yield curve shape are not key to limit economic growth. But Federal Reserve Chairman Ben Bernanke now easing of monetary policy, had no other way. ”
Barclays Capital (Barclays Capital) Aroop Chatterjee said interest rate strategist in New York, the Federal Reserve that decision broadly in line with market expectations, the short-term Treasury yields rise, the bullish dollar.
But he also believes that, in General, reversing the effects of operations on the real economy is uncertain. He said: "we don't know what it means for new assets purchase operations, that's why gives consistent risk assets (fell) reaction causes.”
Lamkin wealth management Chief Analyst Lamkin (Mark Lamkin) was noted that Fed's latest statement may be QE3 (third quantitative easing) launch of bedding.
Lamkin said: "If you look at the statement you will find that their downside risks in the economy before a ' notable '. They can be done on QE3 bedding. They still maintained a loose flexible position, but they now do not run out of arrows all the arrows in the bag. ”
He also said: "as there are still three members who hold different views, so statement did not give us draws a clear path. They can do more things, but even if they do a lot more, GDP growth is not possible from 4%. Today the Fed's response not only to economic, it's about politics. Super Fed will be watching Congress to reduce the debt of work of the Committee. Shares in market continue to buy sell because the message because of rumors after some traders expect the Federal Reserve to take more aggressive action. ”
Reversing operation does not favor to dollar hedging
Fed resolution since its announcement dollars quickly soar, dollar index in Asia early again highest in 7 months 77.97. On one hand, the Fed reversed actions in terms of stimulating the economy are not recognized by the market, and the Fed's economic assessment was disappointing, triggered risk aversion, pushed up the dollar, while reversing the actions of the Federal Reserve, did not increase the supply of dollars, dollars and get support.
Asian stocks extended yesterday on Thursday United States weak trend of the three major indexes dropped more than 2%, the Nikkei 225 Index dropped more than 1% in early trading, Australian common stock index dropped below 4,000 points. Risk aversion, the rising euro/dollar fell to a day low of 1.3548, not far from the 1.35027-month low touched last week. Australian dollar/US dollar fell to 1.0012 and create August 9 low; GBP/USD fell to a day low January 10.

Attention today:
The short term, the investor expectations for fed QE3 or other stimulus measures frustration could lead to New York under pressure, market sentiment might deteriorate further, high interest rate currencies will continue to be subject to pressure, instead of dollars will be supported. Short term pay close attention to changes in risk sentiment to stock market performance, the Federal Reserve interest rate currencies after the announcement of the resolution is likely to again dominate market sentiment.
In addition, as the Fed resolution settled, European debt situation will again be the market focus. Five by the BRIC countries (Brazil, and Russia, China, India and South Africa) participation in the emerging market meeting to be held on Thursday (September 22) later breaks ground. Reportedly meeting will discuss proposed Eurozone debt holdings.
South Africa Finance Minister Pravin Gordhan on Wednesday (September 21) said the meeting would consider the BRIC countries buying European bond proposal, to help one way to encounter the Eurozone debt crisis out of the Woods.
Gordhan said to the media, "buying European bonds now is only a proposal, but the more important that we rebuild a national collaboration of standards and to exchange views on action in 2008, once again, that's what we need to do. ”
In Europe debt problem still storm clouds Zhiji, if BRIC five country holdings Europe debt, undoubtedly on market confidence is an agent forced needle, on euro will is a large boost, but fear difficult lasting, due to Eurozone economic recession risk still, and Italy rating was adjusting drop, and Greece assistance loan allocated negotiations delay is not reached consistent before, Greece default even exit Eurozone of risk still exists, market confidence difficult continued rebounded
http://www.fx678.com/C/20110922/201109220945171073.html

United States 2011-09-21, Federal Reserve announced that it would take $ 400 billion of government bonds held by the extension of its duration, and other measures to stimulate economic recovery, in line with market expectations of the so-called "distorting operations" that is, the Fed sells Treasury bills, buy long-term government bonds in order to achieve the goal of lower long-term bond yields. The Fed's latest decision not new, market performance down, London gold below the blocked again after the rebound dropped back to 1800. International Gold opened the day at $ 1801.7 an ounce, up to $ 1816.6 an ounce, as low as $ 1780/ounce, closing at $ 1801.92 an ounce.

United States National Association of real estate brokers (NAR) on Wednesday (September 21) announced, on a seasonally adjusted August home sales increase over July, at an annualized rate of 5.03 million. Sales in July have not been amended, an annualized rate of 4.67 million units. August home sales rose 18.6%. The figures were better than expected, surveyed economists had expected the August home sales rose 2.7%, an annualized rate of 4.8 million. United States August home sales rise to highest level in five months, but still low compared with historical data, and sluggish housing market fails to drive economic development.

United Kingdom Bank (BOE) on Wednesday (September 21) announced the September 7-minutes, United Kingdom the Central Bank's monetary policy Committee (MPC) decided by 9:0 by keeping interest rates in the of, 8:1 scale unchanged at 200 billion pounds by maintaining the quantitative easing decision. September meeting against quantitative easing calls for significantly reduced. The minutes said, at the September meeting, MPC Member David berson (Adam Posen) voted to expand asset purchase programme 50 billion pounds to 250 billion pounds, he remains the only one held the views of members. According to the minutes, United Kingdom's Central Bank ready to faltering United Kingdom inject more money into the economy, and plans to purchase more assets might be the fastest to launch in October. MPC discusses other easing options where necessary, measures but there is no more ideal than the asset purchase, asset purchases would still stimulate method of choice.

Canada statistics on Wednesday (September 21) according to the August consumer price index (CPI) annual and monthly rates are higher than expected, and core CPI annual and monthly rates are higher than expected. According to the Canada August CPI monthly rate increased by 0.3%, expecting an increase of 0.1%, the former value increased by 0.2%; Canada August CPI annual rate increased by 3.1%, expecting an increase of 2.9%, the former value increased by 2.7%.

Beijing time on Thursday morning the Fed's September Federal benchmark interest rates 0-0.25% unchanged, also announced that it would distort operations for $ 400 billion, these actions broadly in line with market consensus forecasts, the so-called distorting operations which the Fed sold short term bonds, buy long term government bonds, thus prolonging the overall period of the assets held by Treasury bonds, this action will push down long-term bond yields. Distorting operations aims to lower longer-term interest rates, thus stimulating the holder of a mortgage refinancing, lower borrowing costs to stimulate economic growth.

The International Monetary Fund (IMF) lowered its 2011 forecast for global economic growth, cut from 4.4% to 4%, IMF while the 2011 United States economic growth forecast down to 2.5% of before. Demonstrating lack of market sentiment and economic downside risk. Interest on the results of the Federal Reserve in line with market expectations, but the market is down, US stocks then plunged after market vision once the QE3. Resolution of the Federal Reserve also brought gold (1779.00,-29.10,-1.61%) under pressure, London gold Wednesday to return to below the US $ 1800/oz. Technical show the price of gold is still a certain downside risks. On the specification of it, kinetic energy reduces short-term maintenance of bearish MACD, stochastic indicators rebounded; Brin in the channel, gold failed to break through the rail line, located below the track, trend under pressure; in the short term of equal-string form die fork, a certain adjustment pressures. Recommends that investors on high short selling or wait long on opportunities in the middle line, support level: 1760,1750,1700; pressure: 1790,1806,1820.
http://finance.sina.com.cn/money/nmetal/20110922/102510522678.shtml

United States Government announced arms sales to Taiwan plans China strongly protests
September 22, 2011 China News
Newly York September 21 (reporter Li Yang) United States the Assistant Secretary Campbell, 21st New York reporter during confirmed United States Government totaled $ 5.852 billion on Taiwan arms sales plans. The Chinese side on the United States Government disregarded the repeated solemn representations by the Chinese side, to Taiwan to sell advanced weapons and equipment expressing strong indignation.
According to United States Government's plans for arms sales to Taiwan, including the "refit" their existing F-16A/B fighter, sale of military aircraft spare parts, and provides relevant training projects, amounting to us $ 5.852 billion.
The Chinese Foreign Ministry Spokesperson Ma zhaoxu's remarks on 21st in Beijing on the United States Government announced plans to clarify China's solemn stance on arms sales to Taiwan. He said that there was only one China, and Taiwan is a part of Chinese territory. Taiwan issue is China's internal affairs, concerns China's sovereignty and territorial integrity, involving China's core interests, related to the national feelings of 1.3 billion Chinese people.
He pointed out that China is resolutely opposed to any foreign Government to the Taiwan arms sales this position is consistent and clear. Us put China's many solemn representations at defiance, called the Taiwan Relations Act as an excuse to Taiwan to sell advanced weapons, seriously violated the three Sino-US Joint Communiqués, especially the "BA·Yiqi" principle of Communiqués, seriously interfere in its internal affairs, seriously damaging the great cause of China's national security and unity, harm Sino-US relations and peace and stability in the Taiwan Strait. The Chinese Government and people will never accept.
Ma said, the US side of wrongdoing inevitably to Sino-US relations, for the two countries ' Exchange and cooperation in the fields of military, security damage caused by the US side should assume full responsibility.
The Chinese side urges the US side fully understand selling arms to Taiwan is highly sensitive and serious harm, to respect China's sovereignty and territorial integrity, abide by the three Sino-US Joint Communiqués and the basic norms governing international relations, to take immediate and effective measures to correct the error, remove the arms sale plan, stop arms sales to Taiwan and stop us-Taiwan military ties so as not to further undermine peaceful development momentum of steady development of Sino-US relations and cross-strait relations.
Chinese vice Foreign Minister Zhang zhijun, had announced the US arms sales to Taiwan scheduled for 21st urgently summoned the United States Ambassador to Locke, lodged a strong protest to the United States. Chinese Ambassador to United States Ambassador Zhang yesui also in Washington to the United States lodged a strong protest
http://news.qq.com/a/20110922/000699.htm.

ATHENS - The Greek government on Wednesday grilled new austerity measures demanded by creditors in the hope of obtaining the release of a new tranche of aid to avoid a default that would undermine the entire the euro area.
2011-09-21
"Greece is and will always be a member of the euro area," he assured Parliament on Greek Finance Minister, Evangelos Venizelos, before the start of a limited cabinet meeting devoted to the consideration of additional measures.
Considering "new measures", Mr. Venizelos said his government "would do whatever it takes, not to endanger the country and its place in the euro area".
The Socialist government should engage primarily to further reduce the size of its public sector and increase taxes, analysts and the Greek press.
Objective: To convince the Troika of its creditors - the International Monetary Fund, the euro area and European Central Bank (ECB) - to pay him a sixth round of eight billion euros of the loan in May 2010 in the country, otherwise, the Greek state could end up insolvent in October.
The Chief Inspectors of the European Union and the IMF return to Athens in early next week to resume their inspection of the accounts Greek. They were away on September 2 because of delays by Athens in implementation of austerity measures and privatizations.
"We are negotiating not only the budgets for 2011 and 2012 but all of the adjustment program in 2013 and 2014" Venizelos said in Parliament on Wednesday morning to explain the length of discussions.

The vagueness prevailed, however, on whether the ads a turn of the screw would be made during the day, while the unions called a general strike of 24 hours on October 19 to protest against austerity.
Meanwhile, the International Monetary Fund (IMF) warned that "some European banks urgently need to raise their capital levels" and suggested it to use the European Financial Stability Fund (EFSF).
The EFSF, created in May 2010 and issuing debt in January, was originally intended to raise cash for the States of the euro area in need. From the top of July 21, it is also expected in the future it can help recapitalize banks via loans to governments.
According to the IMF, the debt crisis has already cost 200 billion euros to the banks of the European Union but the French government reiterated Wednesday that its banks in the crosshairs of financial markets, were strong and did not need to be recapitalized.
"Today we do everything to save Greece," assured the French Minister of Budget Valérie Pécresse. It strongly rejected a possible default of Athens, including the IMF Tuesday sharply raised the peak of public debt to 189% of gross domestic product (GDP) in 2012 against 172% previously. The deficit projection was also revised to 8% of GDP against 7.6%.
"It cost us a lot more to consider another scenario," said the French minister.For the euro area, the challenge is indeed huge.
The fate of Italy, Spain, Portugal and Ireland, a country battered public finances, are anyway related to the way will be dealt with Greece, economists and analysts argue.
"The resolution of the Greek case is critical," says Cedric Thellier, economist at Natixis. "Leaving Greece comes to itself, it sends a signal to investors that when there is a problem in the euro zone is the default."
Speculators could then "put pressure on other countries such as Portugal, Ireland, Spain, Italy," he warns. Or a failure of Italy's third largest economy in the euro area, "would mean the collapse of the monetary union," said the economist.
Portugal warned Tuesday that a default would force Athens to seek a new international financial assistance. "In a scenario of failure of Greece, this assistance may be needed and it is important that our European partners are convinced that it is worthwhile to help Portugal and, in this case, Ireland as well," said Portuguese Prime Minister Pedro Passos Coelho.
Portugal has taken Wednesday 1.250 billion in Treasury bills in the short term at high rates, exceeding 5.2% for the line to six months.In contrast, the rates of German bonds, highly sought after by investors, continue to decline. German Central Bank for the first time issued a loan to ten years to an interest rate below 2%.
Tensions surrounding the banking sector continued to weigh on European stock markets: shortly before 1400 GMT, Paris lost 0.89%, London 0.59%, 1.52% Frankfurt, Madrid and Milan 0.94% 0.29%. United States, Wall Street opened without direction: the Dow Jones lost 0.06% and the Nasdaq gained 0.43%.
The euro fell against the greenback at 1.3681 dollar.
Across the Atlantic, the U.S. central bank (Fed) resumed Wednesday in Washington, where she could announce later in the day a new boost to the country's economic recovery.
The Monetary Policy Committee of the Fed were to publish to the 18:15 GMT release reporting its decisions.
The Federal Reserve must perform a particular "twist", which would be to sell bonds in the short term and buy longer-term securities.
This game-pocus would lower the cost of credit to American households and businesses, according to analysts at CM-CIC Securities.

Wen Jiabao presided over the Board of managing directors of the State Council: emphasis on promoting the construction of social housing
Body for me two sentences (0 people) say a few words (305 participants) September 20, 2011 source: Qianlong NET copy links print 19th Premier Wen Jiabao chaired the State Council Executive meeting, study and plan further affordable housing project construction and management.

It was noted that in recent years, China achieved a remarkable success the construction of affordable housing program to address housing to low-income families in difficulty, curb rising too quickly, improving the system of housing and promote the healthy development of real estate industry, played an important role. To do the work involved in urban planning, system development, funding, distribution mechanism of project quality, and operations management, and many other issues, we must persist in meeting basic, quality assurance, the principle of equitable distribution, sound system, rationally determine the scope, mode and standard of housing security, improve relevant supporting policies, step up the form code for affordable housing project investment, construction, operation and management mechanism.
The meeting request will continue to vigorously promote the construction of affordable housing project in particular, social housing, accelerate the implementation of UN-Habitat objectives. Social housing for the urban middle and downwards income housing families, new employment without employees and town of stable employment of migrant workers, mainly to small-, an area of 40 square meters, rent standard by the County Government, combined with the local situation, rational determination on a slightly lower than market rent basis. According to the actual situation around continue to arrange affordable housing, affordable housing and limited price of commercial housing building, speed implementation, modification of squatter settlements, increase the intensity of dangerous buildings for rural. Progressive realization of affordable housing and the construction of social housing and Manpower, the combination of running.
To ensure smooth, health promoting affordable housing program, the meeting identified the following policy measures and job requirements: (a) continue to increase funding of the central subsidies, places you want to increase the financial funds of investment and increase the intensity and manpower at the provincial level. Public areas of insufficient budget arrangements, to improve the land revenue and proportion of local government bond financing. Specification and use of corporate bond finance, specially used for social housing construction. In strengthening the management, prevention of risks on the basis of banking institutions to the implementation of company operations and meet the credit requirements of direct payment of loans for social housing projects or loans to qualified local government financing companies. Ensure that the supply of land for, implementing the tax and fee cuts. Guide enterprises and other institutions involved in building operations, multi-channel increasing the supply of social housing. Auxiliary business services facilities planning and construction of social housing projects, the unified management to achieve balance. (B) Raise the level of planning, ensure the project quality. Implement the province, energy saving, environmental protection principles, take full account of employment, medical care, education, travel needs, optimizing layout and type design, supporting construction of service facilities. Seismic protection of strictly enforced mandatory standards, strictly implement project quality responsibilities, legal permanent responsibility for housing quality, head of gradual participation units and project leader responsibility system of lifelong. (C) Establish a sound regulatory regime. Specification for access audits, strict lease and sales management, strengthen management, improve the withdrawal mechanism, effectively preventing and strictly investigate and deal with lying to buy cheat rented social housing, welfare housing distribution in disguise and abusing power, effectively correcting security housing violation to sell, lend, rent, lease or sublease, idle and change purposes. Establish public oversight mechanism to implement information public, social supervision into full play the role. (D) Insist on suiting measures to local conditions, planning the construction of science establishment overall arrangements for annual construction tasks, not to engage "across". All localities and all departments concerned should strengthen organizational leadership and supervision, make careful arrangements, elaborate implementation, pay attention to summing up experiences, build affordable housing project into a clean engineering, safety engineering and quality assurance projects.

　　Affordable housing building materials procurement platforms on the line

From the 27th of this month, a huge subsidized housing building materials procurement network "supermarket" will be officially opened to the public. Housing Ministry yesterday released, affordable housing construction materials, product purchasing information platform www.chinahouse.org.CN has officially started, it will provide quality assured for national affordable housing construction, relatively inexpensive building materials and components.

　First industrialized Institute settles in Beijing

Is the pilot housing industrialization will have a strong booster. Yesterday, the first prefabricated housing industrialization in Beijing Construction Engineering Research Institute formally inaugurated in Beijing. Prefabricated building to the energy saving, water saving, energy-saving and time-saving technology is expected to spread in Beijing.

　　Official said, after the establishment of the Institute, will participate in the technical research on specific topics related to architecture, developed provide a reference for technology and industrial policies.

　　Author: Geng Nuo source Beijing daily)
http://roll.sohu.com/20110920/n319924668.shtml

Risk currencies all fell, markets await fed interest on the Conference
September 19, 2011　　On Monday (September 19) European time, risk aversion continues growing, European stock markets fell sharply, major stock market fell more than 2%; US stocks sharply lower, three major stock indexes decrease more than 1%. After EU Finance Ministers ' meeting has not been good out, Greece the problem then becomes the focus, focus days Greece and EU/IMF the delegation of the Conference call. Markets wait for fed interest on the Conference to be held on Tuesday and Wednesday, the market traded slightly before the results come out cautious.
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Crisis precursor global five large Central Bank again jointly rescue market volatile exchange investment required cautious fed or "throwing short debt buy long debt" paper euro will "died" gold euro to health p will Swiss silver included negative observation list more country for euro encouragement Yuan rose breaking 6.38 Eurozone finance ministers in Shang Friday (on September 16) and the Shang Saturday (on September 17) of meeting Shang is not on resolve debt crisis reached new of agreement. Germany Christian Social Union (CSU) leader on Saturday (September 17) reiterated that if Greece fails to meet the European Union (EU), the European Central Bank (ECB) and the International Monetary Fund (IMF) set of conditions, the country may have to leave the Eurozone. Greece to get new aid, you must first achieve the goal of commitments before the Chek Lap Kok, but until now, Greece would like to complete this goal the possibility of change is very low. Where it is not possible for more bailout funds, Greece will be at risk of funding dried up in mid-October; the country will meet on Tuesday to pay a total of 750 million Euro bond coupon interest. About Greece might be about fears of a default.
European trading began in Europe tumbled on Monday, three major European stock markets fell more than 2%. Greece 1-year government bond yields surged again, soared from around 110% to 124.5%. On September 14, yields the maximum approximation 150%, to 148.9% the next couple of days down to around 110%.
European EU Finance Ministers influence gradually declined and further widening decrease after European markets in low open, closing 21:48 Beijing, United Kingdom FT100 index decreased by 2.11% Germany index of DAX and France is over 3% the CAC fell, while widening decrease. Stock markets fell back further downward drag on non-US currency, the dollar index rebounded quickly. However balance due to periods lacking important messages and data push and relatively light trading, most major currency fluctuations is limited. United States has not released any important data.
Notable events are: Greece and EU/IMF the delegation of the Conference call, reports of meetings may be held in Beijing 24:00; will review Greece fiscal reform progress, and decide whether or not to Greece sixth aid amounts allocated.. United States President Barack Obama will propose a plan of reduction at Chek Lap Kok, these events may be in the United States certain fluctuations on the market.
Although Greece last week in Tak, law call affirmed its reforms, stick to adhere to objectives, but cannot demonstrate concrete measures and EU is adamant: Greece without new measures ensure the red target reduction, are not next batch of aid. Expected in Greece before outgoing messages to market satisfaction, 1.35 EUR/USD may once again down testing support.
Earlier Monday at New York University Professor, Dr doom Nouriel Roubini said that Greece should be defaults immediately and leave the Eurozone because Greece leaving the Eurozone will only lead to years of depression and deflation. While the financial times also published the review articles pointed out that the euro-bonds and financial Alliance is the only way to solve the debt crisis. If you do not select the outlet, the Eurozone will be a little bit towards split.
Period no significant data released in Europe, according to data released: Eurozone July production month rate in the construction industry 1.4%, expect-1.8%, 1.2% per annum are expected-11.3; United States September 14 NAHB house price index, expected 15, the former value of 15. Data shows that housing prices data United States one of the most sluggish sectors there is still no clear recovery of the economy of the latest developments.
Week markets will switch attention United States, fed Tuesday and Wednesday September policy meeting focus may become the dominate market movements. Market waits for Greece, the European Union and IMF tripartite meeting had further news at the same time, is also waiting for the Beijing time fed (FED) on Tuesday (September 20) interest on the meeting. Monetary stimulus of the market expected the Federal Reserve will announce new measures to stimulate the further recovery of the economy. Market analysts widely expect Federal Reserve launched to reverse the operations, it is against the dollar adversely, but may not necessarily be a heavy blow against the dollar.
Investors widely expected Federal Reserve action down long-term interest rates encourages spending and lending has slowed this summer; helps boost remained weak United States economies. Most dealers predict that the Fed will buy longer-term bonds, extend the period for its public debt, the POBO sold short bond buying long debt "policy tools can be traced back to 1961. Size of incentive scheme was expected between 2000.4 trillion dollars, six months fed open market purchase targets for 7-12 year bonds. In addition, some analysts speculate the Fed might take another tool is cut excess reserve interest rate, the Fed is now on 1.9 trillion dollars of excess Bank reserves to pay $ 0.25% in interest rates.
Wall Street's biggest bond traders are hoarding in 2007 to the fastest speed United States bonds amid speculation the Federal Reserve (FED) on Friday announced plans to purchase long-term bonds to stimulate the sluggish economic growth. On Monday (September 19), the United States Government bond prices rose, 10-year government bond yield fell by 7.1 per cent, to 1.987%, distance and 1.877% of at least 60-year low earlier this week not far. The 30-year United States bond yields fell by 7.1 per cent, to 3.25%.
European period a number of bodies, said, the global economic downturn increased risk, it seems that economic recession is increasingly likely, commodity money may be a big drag on, as in the AUD/USD and NZD/USD it is possible to form a medium-term downward trend and technology on the face of it seem to have this tendency. If, however, intensify their efforts in easing of the Federal Reserve, commodity money is expected to hit new record highs.
The dollar index: the European market in opening the dollar index rose as a whole, accelerated gains late periods, refreshing day 77.44 to, largely driven by hedge buying support; before the Fed's next interest on the Conference results out, rise expected to be limited.
EUR/USD: the European market opened the EUR/USD biased downward, late in rapid decline below 1.36 gate hit a low of 1.3596. Expanded in Europe and the stock market declines, risk appetite in the market sentiment under pressure. Exchange rate since August 29 highs 1.4547 down to bounce higher after September 12 low of 1.3505, Fibonacci 0.382 currently pressed down. Concerned about resistance: 1.377 per cent, interest support: 1.3503-1.34.
GBP/USD: Euro opened GBP/USD in rapid decline, and hit 8-month low of 1.564 since January 12. Exchange rate continued to drop channel operation, k-line runs on nearly every major averages below, in the short term will continue to be downward. Concerned about resistance: 1.577-1.585, support: 1.56 to 1.55.
AUD/USD: Euro opened in rapid decline after the AUD/USD traded, refreshing six-week low of 1.0175. RBA will be published on Tuesday September minutes; estimated Australian dollars closer to resistance and 1.04 averages 1.05, returns on which there is an opportunity for further rise; the next technical resistance level in the 100-day moving average and 1.062 level. Instead, due to increased short term trend line for the fall, even if this weekend may be 1.04 above the level of return, back pressure risks continue, is expected to hit the target to see to and 1.017 levels, further key support for the August lows 0.9924.
Dollars/Yen: Europe opened lower dollar/Yen turbulence, tail quickly fell after rebounding to 76.82, touching as low as 76.64. Exchange rate on the whole unchanged at 77 integers below the mark trading. US dollar/Yen lower correction is perpetuating. July highs seen in 81.48, together with the 100-day moving average 79.2, as dollar/Yen important resistance level, it is expected that if they failed to break through the two regional, dollar/Yen will continue to work under pressure. Near resistance for the 50-day moving average of 77.5. The other hand, expect dollar/Yen preliminary support 76 if Outlook fell below this area, in the short or rapid downward, it is expected that large level of support and 75.5, Japan's Central Bank does not intervene, it is even more opportunity to even lower levels of 74.3 per cent and 73.
Beijing 22:20 the dollar index, 77.38/45, EUR/USD 1.3610/13, GBP/USD 1.5665/69, and AUD/USD 1.0181/83, USD/Yen 76.68/71
http://forex.hexun.com/2011-09-19/133517980.html

Five central banks working together to "blood" European Bank
September 17, 2011 Source: Beijing Times
According to the Xinhua News Agency Xinhua announced that the European Central Bank 15, will join major Western central banks to provide dollar liquidity of the banking sector in Europe, the European banking sector to ease the dollar shortage.
European Central Bank said it in the next three months the joint U.S., UK, Japan and Switzerland three times to the European central bank dollar liquidity into the banking sector to help European banks weather the storm. Depending on the arrangement, the European banking round of action will provide unlimited three-month dollar loans to European banks on October 12, November 9 and December 7, three times a tender application to the European Central Bank loan of U.S. $.
Royal Bank of Scotland economist Sylvia Opie Clouzot, said: "This decision proved very popular. Recently, the largest bank in Europe is difficult to obtain news of U.S. financial markets reacted strongly, and this decision will ease the financing of the European banking industry problems. "
As European banks in Greece have a huge debt exposure, the U.S. money market funds this year have stopped dollar loans to European banks offer. According to JP Morgan Chase and independent research institutions, joint research Credit Sights, in the past year, the U.S. money market funds and other institutions of the European banking sector closed more than $ 700 billion lending channels.
Bank of France Governor Noyer said the dollar as the European banking sector financing dried up, the day of launch of the joint funding plan is necessary, which won the European banking industry time to adjust dollar business. Analysts expect the European Central Bank said its measures to ensure that the European banking sector this year has ample dollar liquidity.
Promotion by the news that day, U.S. and European stocks were up, the U.S. stock index up 1.66% Dow Jones, London "Financial Times" 100 index rose 2.11 percent, France's CAC40 was up 3.27 percent, Germany's DAX30 index rose 3.15%.
European banking stocks in particular, the day of big gains, after much speculation against the financing of the French Paribas share price soaring 22 percent in intraday trading, closing up 13%, French bank Societe Generale has closed up 5 percent, Bank of Italy and the United Yusin Bank Sao Paulo were also up by 10% and 7%.
The day of the euro against the U.S. dollar, Japanese yen and the pound were also a sharp rebound. As risk aversion eased, the international price of gold fell below $ 1,800 an ounce mark.
However, many analysts believe that the current round of capital injection plan only short-term stopgap policy. British "Financial Times" published jointly Commentary commentator believes that the move was "not from the United States will allow lenders to the U.S. where the financial end of the year the euro area banks avoid a liquidity crisis, but this agent" repair cream "will be short-term pain relief, it cannot cure this fundamental condition the euro area policy-making paralysis. "

UBS currency strategist, said that since the debt crisis in the euro area cannot be reached late solution, expect the European banking industry will continue to face liquidity problems, such a move is only a temporary solution.

http://roll.sohu.com/20110917/n319628637.shtml

Lagarde Urges Collective Action to Restore Confidence

IMF Survey online
September 15, 2011

As uncertainty continues to roil the world’s financial markets, world leaders should act together to address the three main challenges facing the global economy: debt pressures sapping growth, risk of instability in the core of the global economic system, and social tension, the head of the IMF says. Read:http://www.imf.org/external/pubs/ft/survey/so/2011/NEW091511A.htm

World Bank Chief: The Time to Muddle Through Is Over
Posted: September 15, 2011 at 6:14 am
Global policy makers should thank World Bank Group President Robert B. Zoellick for his comments about the future of the economy, though almost all of what he said in a recent address has been known within the world of politics and policy for the better part of a year.
http://247wallst.com/2011/09/15/world-bank-chief-the-time-to-muddle-through-is-over/

United Kingdom in August, CPI rose by 4.5%

Permit network United Kingdom statistics data showed 13th, as quarter-after the discounting period clothing and furniture goods prices, United Kingdom August CPI (CPI) 4.5% rose than July's gains further increased. Excluding energy and food prices, United Kingdom in August rose 3.1% in the core inflation rate, and an increase in July was flat.
Current United Kingdom inflation has been more United Kingdom's 2% by the Central Bank targets inflation levels higher than 1 time, and the United Kingdom's Central Bank is expected for the next few months in the United Kingdom inflation growth rate will be closer to 5%.
Although the inflation rate is high, but faced sluggish economic recovery, United Kingdom's Central Bank still has the potential to further expand the quantitative easing policy. Earlier this month, the United Kingdom Central Bank announced its benchmark interest rate unchanged at a record low, according to Goldman Sachs and Citigroup are expected, the Bank has the potential to recover assets purchased before November this year to stimulate economic growth.
This Nomura United Kingdom Economist Philip Pu Lashi says, because far higher inflation target bands, United Kingdom banks will face tough choices, expected United Kingdom inflation high duration than United Kingdom expected Central Bank more
http://stock.hexun.com/2011-09-13/133334048.html?from=rss

2011-09-13

United States August imports price index fell, implied the country inflation pressure moderate, For United States policy makers further measures to shore up the weak economy has created space.
According to the United States in August month rate fell 0.4% the import price index, expected decline in 0.8%, the first value is not amended, is still increased by 0.3%. Although the decline was worse than expected, but lower for the second time in three months. United States in August, import prices increased at an annualized rate, by 13%.
At the same time, United States in August month by 0.5% the export price index, expected fair, the first value is not amended, is still down 0.4%; annual rate increased by 9.6%.
Data also showed that United States in August, excluding oil import price index month by 0.3%. Import coffee prices fell, dragged down imports of food, feed and drink wine price index declined by 0.8%.
In addition, the United States in August, prices of Chinese imports of the month by 0.1%; from Mexico, and Canada and the European Union (EU) prices of the imported product is lower

New loans in August climbed to $ 548.5 billion 2011-09-11
With an analysis showing that, taking into account the August decline in growth in M1 and M2, more than 500 billion dollars not small amount of new credit.

Morning post August added loan 548.5 billion yuan, increased by more than $ 9.3 billion.

On September 11, the people's Bank of China issued the August financial statistics (hereinafter referred to as "Central Bank report") in August, household loans increased by $ 188.8 billion, and other non-financial enterprises sector loans increased by $ 360.2 billion.

Central Bank report also refers, in late August, the broad money (M2) balance is 78.07 trillion yuan, an increase of 13.5%, respectively, low late last month and a year earlier and 1.2; narrow money (M1) balance is 27.33 trillion yuan, an increase of 11.2%, respectively, low late last month and a year earlier and 0.4; currency in circulation (M0) balance of 4.58 trillion yuan, an increase of 14.7%. NET invested $ 59.2 billion in cash in the month, more than to inject $ 21.3 billion.

Reuters 11th analysis, China August new Renminbi loans higher than expected, money supply M2 and M1 growth continued lower display policy tightening effect continues, and month added of credit rebounding tendency should not change time.

Volume of new loans "not small"

Reuters 11th quoted Bank [5.87-1.01% stock research] Li Zhiqiang, Chief Economist of the Department, as saying in the financial markets, more than 500 billion of new lending on the whole not large, but if you consider the M1 and M2 growth dropped, new lending is not small. Comprehensive Central Bank data, it was not possible to have optimistic expectations of monetary policy would relax or turn. Next months also will maintain current a relatively tight situation.

According to Central Bank data, the end of August, foreign currency loan balance 55.69 trillion yuan, an increase of 16.5%. RMB loan balance 52.44 trillion yuan, an increase of 16.4%, respectively, low late last month and a year earlier and 0.2.

First capital securities asset management Managing Director Wan Xiaoxi headquarters believe that should be the new loans in August than expected by the market, more expected 300 billion to 400 billion, increasing number of even more than in July, possible and affordable housing a large number of operation and the related loans increased a little.

Xinhua financial 11th overseas citing Economist Song Seng Wun saying CIMB Research, although new loans figures are higher than expected, but this does not mean that Central Bank loosened monetary tightening policy position, if the Central Bank to ease monetary policy too quickly, could lead to speculative investment in assets – once again heated up.

Song said that 500 billion in new Yuan lending-550 billion yuan a month, in line with the needs of the Chinese Government to maintain economic growth at the current rate.

Customs statistics show that in August, China imported $ 155.56 billion increase of 30.2% over the same period last year, monthly imports refresh 152.26 billion dollars hit in March this year the historical record. Xinhua overseas financial said, suggesting China demands remains strong.

Money supply growth lower

According to Central Bank data, the end of August, broad money and narrow money supply growth continued to slow.

Xinhua financial 11th overseas reports, China August money supply growth slower than expected, indicating that since the beginning of the implementation of monetary policy tightening this year continue to be effective. As inflation stays in the nearly three-year highs, and domestic consumption continued to remain firm, the relevant departments will continue to price a priority control, don't expect the recent measures make it too loose to monetary policy environment.

But Xinhua aforesaid overseas financial reports also stressed that the current domestic economic slowdown and uncertainties facing the global economic Outlook rose case, China is unlikely to continue to tighten monetary policy.

Reuters 11th report also quoted a CITIC Securities [12.08 unit research report] Chief Economist Zhu Jianfang said high inflation will continue, but the trend is down. Taking into account the external situation is not optimistic, Central Bank policy tightening should be cautious, more little chance to raise interest rates during the year.

First Capital Securities Research Institute Deputy Director Wang Haoyu believes that from the perspective of current funds rates, the money wouldn't be nervous. From the security deposit reserves to directional Central ticket, all point to policy tightening may not see the end of the Central Bank will continue to control credit, does not condone excessive easing market funds. But central banks would not want funding snap, September's inflation is still relatively high, the Central Bank has been exploring a point, a point to a more advantageous credit control.

According to the national statistics released on 9th August, overall consumer price level throughout the country (CPI) rose by 6.2%. Although less than per cent in July, but is still in the highest level in nearly three years.

Real estate credit or continue to be subject to limits

Safe fixed income securities research head of Shi Lei, August M2, new lending data base look the way. M1 is relatively low, indicating that economic activity has declined, economic growth remains in the doldrums. August M2 per cent lower in September and is expected to rebound.

Sea securities [14.58 unit research report] macro-analyst Gao Yongbiao agreed in August, more than 500 billion worth of new loans to more normal, the M2 growth rate too low key associated with a higher base from a year earlier. General, data comparisons consistent with expected and CPI, while references recently published economic data, future policies would not relax too, again sharply. Reserve hike unlikely, but the market interest rates remains disputed.

CIMB Research Economist Song Seng Wun also has similar views, he believes that so far the Central Bank will maintain the current policy unchanged, will ensure the productive requirements of funding and continues to restrict credit to the unproductive areas, such as real estate.

In addition, Central Bank data show, August interbank market cumulative sold for $ 18.76 trillion yuan trading, average daily transactions 815.8 billion yuan, average daily transactions fell 14.3%. August interbank market interbank weighted average interest rate for the month of 3.3%, 1.14% lower than in the previous month; of pledge bonds buy-month weighted average interest rate of 3.38%, 1.23% lower than last month.

http://finance.ifeng.com/money/roll/20110912/4572515.shtml

September 09, 2011 source: East Asia network
This year April month CPI up gains. People CPI to speculate over when is peak during the year, occurred when turning points?
Eventually yesterday national statistical offices publish August CPI rose 6.2%, risen in July up gains. While the Changchun and flat last month, according to the investigation team from the National Bureau of Changchun, Changchun August CPI rose 6.5%. CPI up to 0.5% per cent from the month than last month expanded 0.6%.
Tsem financial analysis of Professor Zhang Taowei yesterday this newspaper interview, August CPI, or become years turning point, however he thereafter CPI in high, September CPI up gains at least still around 6%. Because of the tightening of monetary policy has led to some of these issues appeared, so the end of this year or early next tightening of monetary policy could be eased.
National ,Meat, eggs, snap up pushed CPI
According to estimates, in August rise, prices last year rose carryover effect is about 2.7%, new price increase factor about 3.5% this year.
According to the August 2011, the overall consumer price level rose 6.2%. Among them, urban rose 5.9%, in rural areas rose 6.7%; food prices 13.4%, non-food prices rose 3%, consumer goods prices rose 7.3%, services prices 3.4%. National overall consumer price level rose 0.3%. Among them, urban rose 0.3%, in rural areas rose 0.3%; food prices 0.6%, non-food prices rose 0.2%, consumer goods prices rose 0.3%, services prices 0.2%.　Class food prices rose 13.4%, affecting general price level rose about 4.02%. Among them, food prices rose 12.2%, affect the overall price level is up about 0.33%; meat and milk products prices 29.3%, affect the overall price level is up about 1.89% (pork prices rose 45.5%, affect the overall price level is up about 1.27%), egg prices 16.3%, affect the overall price level is up about 0.14%.
Eight commodities prices are rising, living class prices most 5.5%, second to healthcare and personal goods prices rose 4.1%. Except for transport and communication prices, entertainment, educational and cultural goods and services prices rise slightly lower outside, other commodities rose is close to 3%. Changchun Eggs and meat prices drop leaf vegetable prices soar
August CPI up increases in July in Changchun City flat, 0.3% higher than national CPI. Changchun August CPI, new price increase factor (in December over the previous year) is 1.6% than last month increased by 0.5%; tail raised the price factor is 4.8% than last month fell back 0.5%.
Different was the country August Changchun pork prices drop, and both eggs and vegetable prices soared, became a CPI rose's main promoter.
Pig-raising network according to the end of July, Changchun 19-20 Yuan/kg pork prices; in late August, Changchun pork prices 18.6 per cent to $/kg. In other words, in August, the Changchun pork prices are dropping. In this connection, also was confirmed when journalists visited the market. Near Port Street near a farmers ' market in Changchun City, prices of pig trough before and after the pig leather strap on flanks of horse is 30 Yuan/kg, compared to three or four days ago fell 1 dollar per kilogram and the owner said his brother Lee, is a fall in recent days.
The market eggs price is $ 10.4/kg, coriander and garlic bolt is 20 Yuan/kg. "Eggs are going up almost every day, in early August was 9 when Yuan/kg, to the month-end, up to 10 Yuan/kg, is now 10.4 Yuan/kg. "Big sister, who sell eggs said. Changchun public, higher egg prices, not the sharpest, most are leafy vegetables such as parsley. Coriander prices peaked at $ 40/kg, now down to $ 20/kg. , It we may reach, egg and vegetable prices soared, pushing up August CPI in Changchun. Expected In the short term may still be high
CPI up gains at last people under the eager willingness to lower slightly under the head but limited range. Since the June CPI rose after the break 6%, many organizations began to predict whether this is the year of peak, inflection points next month does occur. Forecast after 2 months has finally "realization"?
August CPI rose 6.2%, slightly lower compared with the July CPI rose 6.5%. However, according to the per cent from the August CPI rise is 0.3%, there are new prices for this factor. So Zhang Taowei believes that while August may be CPI inflection point for the year, but will remain high for some time after that. "September CPI rose may also be at about 6%. "Zhang Taowei told reporters.
Analysis of Zhang Taowei, CPI is expected to be high for some time because August CPI rose drop associated with external factors, macro-economic environment in foreign countries is in the doldrums, consumer malaise, of course, with the domestic regulatory policies have a certain relationship. However, the August national vegetable prices rose sharply in some areas, meat and egg prices, food prices remain high, and the southern part of the weather or drought will push up prices in the future, so the price issue is still not optimistic.
However, even the prices are still high, but Zhang Taowei still think in the end of this year or early next year will relax some tighter monetary policy. Current because tightening monetary policy caused some problems already visible, loansharking collapse in parts of southern, so appropriate relax tight monetary policies it.
Therefore Spend $ 100 is $ 6.5 is to pay the price
"How could this up what Ah? "Changchun citizens Mr LEE and Ms Cheng in the cafeteria at dinner, issued such an exclamation point. Indeed, calculated according to the August CPI rose by 6.5%, August compared with last year, in August this year, Changchun citizens if you spend $ 100, 6.5 is to increase the price to pay.
Calculated according to the Bank a one-year interest rates 3.5%, to the people, save $ 10,000 on one-year real return is $ 350, comparisons with CPI increase 6.5%, equivalent to the negative interest rate 3%, that is, $ 10,000 deposit means lost 300 yuan a year.

http://roll.sohu.com/20110909/n318934323.shtml

Founder analyst Tang Yunfei that, by contrast, China is still emphasizes price stability as the primary task, which will enlarge the Chinese economy in the future downside risks.
Manufacturing PMI data released recently show that in August, China's manufacturing PMI was 50.9%, a slight rise 0.2 percentage points, the overall manufacturing sector stabilized. But the new export orders index fell sharply chain, indicating a decline in external demand, implying that the deterioration of the external economic environment has been the formation of external demand for China to suppress.
In this regard, Everbright Securities analyst Li Yanfei that China's future economy will face three major risks, which constrain the direction of macro-control: inflation "late fall" or even "not down", led to the current anti-inflation policy was forced to continue or even overweight; severe economic turmoil in Europe, full-blown debt crisis in Europe or the U.S. economy back to recession, then deal a serious blow to the domestic economy; a marked decline in inflation, the real estate market depth adjustment led to a severe economic downturn.

"August CPI rose 6.2% to tight monetary policy
At 09:55 on September 9th, 2011 Source: 21st Century Network 【Font: Big Middle Small】 Comment


National Bureau of Statistics data released today show that in August CPI (consumer price index) rose 6.2% last Month compared to 6.5% of the increase has slowed; the value does not exceed market expectations. Data show that inflation pressures have abated, but inflation is still high, analysis of monetary policy during the year is expected to remain tight pattern, but the parties whether the interest rate during the year there are differences.

CPI declined in August this year, most expected a strong month, according to earlier media reports, and almost no institution is given the forecast value of more than 6.5% in July. The CPI increase has narrowed the data do not support, according to 21st Century Business Herald said the statistical system of a local investigation team who confirmed that the decline in pork prices rose year on year, driven by the province in August CPI rose somewhat last month decline. And some cities and counties have been published on the August price changes of local situation, where in August CPI rose varying degrees of decline.

CPI likely to gradually lower

Bank of Communications (601 328) Lian Ping, chief economist at analysts believe that under the current situation, although the CPI continued to remain high, but prices are rising fast some relief. In addition, the international commodity price correction also reduces the pressure on China imported inflation, coupled with the gradual work of domestic monetary policy, he expected CPI turning point in the formation of the third quarter of this year.

Hold similar views include China International Capital Corporation; its previous release is also expected to report third-quarter CPI will remain at 6% year on year over the fourth quarter is expected to significantly decrease to below 5%. Slowdown of economic growth over the past few months, trend, inflation in even greater after the high probability peaked in July, the future will gradually decline.

To maintain tight monetary policy, interest rates are controversial

Domestic CPI remains high; while the emerging countries have started to implement a series of loose monetary policy, China's monetary policy adjustment will occur this year, becoming the focus of public attention.

In this regard, the Bank of China (601988) chief economist Cao Yuan Zheng believes that the continued impact of the European debt of U.S. debt, high domestic inflation, China should continue to implement the proactive fiscal policy and prudent monetary policy, especially monetary policy, need to observe a period of time, not the brakes, no throttle. Industrial Bank (601166), senior economist Lu political commissar of the view that the overall monetary policy will not relax, specifically, the CPI and inflection point, is unlikely to raise interest rates during the year; as tight liquidity, statutory reserve ratio may no longer be used.

But agencies have different views, Hai Tong Securities (600837) International chief economist Hu Yifan that remained as long as CPI rose more than 6%, says inflationary pressures are still large, the central bank needs to raise interest rates. CICC's report that in the next few months, monetary policy will remain tight tone. During the year there is still a rate hike; the point is most likely in September or October.
http://finance.jrj.com.cn/2011/09/09095510998050.shtml

Europe  Crisis  Evil  European Central Bank Dimension Interest rates are.

2011-09-08

[ China finance ] ECB 8 dimensional holds benchmark interest rate to 1.5% does not change, in line with economic experts, Europe Debt crisis and evil effects of economic increase long prospects, it is expected that the Central Bank may be under the Adjusting economy increased length and path expansion Period.

According to the ECB (European Central Bank) 9 months 8 days news 8 Victoria Holds benchmark interest rates And may be under the Adjustable Tong Expansion Economic Increased Long Period, euro Debt Crisis Evil Of.

European Central Bank 8 Japanese in French Orchid Bankfurt Guild Talk about ， Dimension Benchmark interest rate to 1.5% not Conforms to Economic Scientist Period. ECB line long Terry Xie (Jean-Claude Trichet) on local time this afternoon 2:30 held New Smell Cloth, Economic Scientist Is expected to He may pass Expansion of risk No longer is Uplink Trend , Implies 2011 year after two interest rates Temporary On the stop Adjustable The interest rate cycle.

The European contagion Europe Silver Confidence and push up the city Take Loan Costs, prompting Economic Scientists, including " Dr doom” Lu Nouriel Roubini (Nouriel Roubini) and Nobel Prize for Economics Joseph Stiglitz, urged the ECB quickly cut interest rates. Economic experts said the very severe recession or compel the ECB twisted turn policy direction. European Central Bank has just raised rates in twisted turn policy hesitate. Probably silver line provides more flow of assistance help slow solutions AG Tension Potential。

Bank of England Currency Policy Committee (Monetary Policy Committee,MPC)8 day decision Continuous 31 months Dimension Benchmark interest rate to 0.5% not , With the Time dimension Debt Coupons Purchase rules Yu 2,000 Millions of -British Pound Do not Are in line with Economic Scientist Period.

At present, the focus of many central banks has come back to support Economic Increased Long On. Canada's Central Bank 7 days decide dimension holds benchmark interest rate at 1% does not change , and said exit stimulative monetary policy demand has weakened, due to global Economic Increased Long Slow And the growing uncertainty. Sweden Bank 7 days also gave up gauge interest rate measures subject to economies and financial market disruption potential. 8 days, Korean countries, Indonesia and the Philippines law Bing and Ma to West Asian central banks have dimension Benchmark interest rate to the current level is not aimed at in the current very uncertain ring under economic Provide more support.

Global Economic At your back into recession Worry Threads To global stock markets fell and forcing Japan and Switzerland Outside Meeting Suppressed Coin L Because investment Funding Search Seeking to avoid Insurance。

Europe and the Asia Chau 8 months manufacturing Verticillium wilt Shrinkage, With the Shi United States Economic Weakness and loss of Rate Dimension High, forcing the city called on the United States the Federal Reserve The introduction of the third Wheel Quantitative Width Loose measure. United States President William Arbaugh horses 8 days to legislators on the economic system into Chinese Gold 3000 Millions of Dollars to support Economic Increased Long。

United Kingdom The Soviet Union Orchid Royal Silver Bank (Royal Bank of Scotland Group PLC) Chief economic experts expect the ECB 8 today announced a new economic phase Shi Down regulating economic increasing length and General expansion. The economic experts expected , European Central Bank or to 2012 year economic increase long period from the increasing long 1.7% Xia Adjustable Until 1.4%, General Expansion of pre- From the 1.7% Xia Adjustable To 1.6%.

TerryXie 8 Month 29 days says Line is Nuclear General Heaving risk assessment Estimates that European Central banks during the last Currency Policy said in a statement, pass Expansion of risk Heavier Trend。

DBS set Studies (DBS Group Research) on Thursday (9 months 8 days ) Forget said, the European Central Bank Long Terry Xie Held Currency Policy will On the Is likely to As shown in the Currency Policy legislation Modified , To the Shi The European Central Bank is likely to remain more neutral and Would like to Caution Tone ， Yu A little investment Funding To be on high alert.

Despite Eurozone’s second quarter Economic Increased Long Slow Rate exceeds Economic Scientist Period, From the first quarter increased Long 0.8% Slow to increase the Long 0.2% but second-quarter pass Expansion Rate Yu 2.5% still exceeded the ECB's 2% pass Expansion The upper limit.

The ECB's 4 month and 7 on the month Adjustable Interest rates, on the price Turgor pressure Force. Since then, Greece, and Portugal and Ireland troubled European debt crisis spread to Italy and Spain, forcing the ECB's 8 month 8 day purchase of Italy and Spain country debt 。

EoniaFar about as shown in the cast funding more and more think The ECB by the end of next Adjustable The interest rate. " Dr doom " Lu Nouriel Roubini 9 months 6 days says ECB 2011 year rate hike was the line Calendar History of the biggest mistakes , calling the move to create more primary rights to the debt problem and the silver Line industry issues。

Citi sets Economic Scientist says Economic a bleak enough on the ECB to cut rates and the ECB may the new measures, such as Dimension Silver Funding This is sufficient, may be the earliest in 8 days. He said this may include the amount of outside of the six-month loan again or introduction into the 12 -month loan Paragraph. This economic study said that policy makers may be found under finding adjust deposits interest rates, lower city Take Loan Costs, and increase Silver Funding Gold deposit in the ECB not to borrow Goes to the Others Loss Lost.

The Soviet Union Orchid Royal Silver Economic Scientists said the08 year Experience Show the ECB can quickly Go To his Expected Possibility of ECB rate cut before the end 40%。

(Du Huiqin Compile)
http://international.caixun.com/content/20110908/NE02td6c.html

Economist fan gang: Chinese slowdown would benefit its economic development

· 2011-09-07 19:49
· Xinhua NET
Xinhuanet, Hong Kong, September 7 (reporter Gao )-the Asia Society Hong Kong Center 7th about China's prospects for economic development Forum 。 Fan Gang, Director of the Institute of national economy of China reform Foundation, said in his speech, China's future economic growth slows to its economic development
Fan Gang said in a statement, China's economy from about 10% growth drops to 8% per cent per year, you can avoid overheating, so that the overall development of more stable and beneficial to the overall economic development. A year ago the Government introduced a series of macroeconomic policies, including real estate; the economy is to achieve a "soft landing".
Fan Gang, believed that in the long run, China's economy over the next 20 to 30 years can also maintain a growth rate of about 7%. Korea and Taiwan economies have been for 30 continuous economic growths, China also has such strength, particularly in the areas of education, research and innovative industrial development potential is huge.
In his view, in order to achieve long-term sustainable economic growth, China should avoid the potential for all kinds of crises, including economic and financial crisis and social unrest. To that end, the Government should continue to promote economic reform, the people's livelihood.
Fan Gang pointed out that from the demand perspective, urban infrastructure construction, and will have a significant role in promoting economic development, the process of urbanization will be the main driving force for China's future economic development. In the long run, as incomes increase, growth of middle class purchasing power will become another driving force for economic growth,
From the supply perspective, innovation economy is a force for economic growth. States should speed up the establishment of perfecting the financial system, innovative Enterprise development support. Overall, China's main State-led economic growth in the future, but community participation will increase.
Founded in 1956, Asia Society is the Asia-Pacific region's most influential non-profit, non-governmental, nonpartisan civil institutions, the purpose is to promote the United States and nongovernmental exchanges between Asia, between people, leaders and institutions in Asia Pacific increased mutual understanding. Asia society committed to the policy, business, education, culture and art, and enhances dialogue, encourage innovation in the field. Headquartered, New York.
The Asia Society Hong Kong Centre was established in 1990, has become a discussion of the areas well-known forum for political, economic, and cultural issues.
http://finance.huanqiu.com/data/2011-09/1985859.html

Minami Matsu Best New Actress from Japan.

Yoshihiko Noda , NY-JP. MAN of 2011,

Yoshihiko Noda:

Date: Monday Aug. 29, 2011 7:07 AM ET

TOKYO — Japan's ruling party elected Finance Minister Yoshihiko Noda its new chief Monday, paving the way for him to be the next prime minister and inherit the daunting task of recovering from the huge tsunami and nuclear crisis.
Noda, 54, is known as a fiscal conservative and has lately been battling a sluggish economy, bulging national debt and the yen's record surge, which hurts Japan's exporters by making their products more expensive overseas.
As prime minister -- Japan's sixth in five years -- he will have to broaden his scope to deal with the continuing reconstruction from the March 11 quake and tsunami along the northeastern coast and the 100,000 people who remain dislocated because of radiation leaking from a tsunami-damaged nuclear plant.
"Let us sweat together for the sake of the people," he said after the vote. "This is my heartfelt wish."
Noda will replace Prime
http://www.ctv.ca/CTVNews/TopStories/20110829/new-japan-prime-minister-named-yoshihiko-noda-110829/?utm_source=twitterfeed

Noda pro-U.S. but past remarks may haunt Asia ties

By ALEX MARTIN and ERIC JOHNSTON
Staff writers
While Japan-U.S. relations will remain the cornerstone of the nation's diplomacy under the leadership of Yoshihiko Noda, the Democratic Party of Japan's newly elected president and the nation's next prime minister, his past comments on war criminals could strain ties in Asia, analysts said Monday.
Noda, the son of a Ground Self-Defense Force member and a self-proclaimed political conservative, stirred controversy recently when he reiterated his views that Class-A war criminals were not, in fact, war criminals. His remarks drew harsh criticism from South Korea.
Noda submitted a written question to the government in 2005, when the DPJ was still in opposition, in which he wrote that the honor of the Class-A criminals has been recovered in a legal sense, and that they are, in fact, not war criminals.
http://search.japantimes.co.jp/cgi-bin/nn20110830a6.html

Profile: Yoshihiko Noda

Chinese are operating 10 major research facilities.

Chinese are operating 10 major research facilities.In 2006, the Chinese government began a 15 year plan aimed at transforming the country into an (innovation oriented society) by 2020. The plan calls for china toincrease its R&D investment by more than 85 % by 2020 and to limit its dependence on foreign imported technology to 30%.China is also investing in a program called Qianren Jihua, which, according to Magazin, aims to recruit up to 2000 top notch scientists, entrepreneurs, and financialexperts from abroad over the next 5 to 10 years. Neither china nor other countries aiming to compete in the global economy are willing to cede innovation ormanufacturing. It’s time for the America to wake up to that reality.New product design and development is more often than not a crucial factor in the survival of a company. In an industry that is changing fast, firms must continuallyrevise their design and range of products. This is necessary due to continuous technology change and development as well as other competitors and the changingpreference of customers. Without an R&D program, the firm must rely on strategic alliances, acquisitions, and networks to tap into the innovations of others.A system driven by marketing is one that puts the customer needs first, and only produces goods that are known to sell. Market research is carried out, whichestablishes what is needed. If the development is technology driven then it is a matter of selling what it is possible to make. The product range is developed so thatproduction processes are as efficient as possible and the products are technically superior, hence possessing a natural advantage in the market place.R&D has a special economic significance apart from its conventional association with scientific and technological development. R&D investment generally reflectsa government's or organization's willingness to forgo current operations or profit to improve future performance or returns, and its abilities to conduct research anddevelopment.In general, R&D activities are conducted by specialized units or centers belonging to companies, universities and state agencies. In the context of commerce,"research and development" normally refers to future-oriented, longer-term activities in science or technology, using similar techniques to scientific research withoutpredetermined outcomes and with broad forecasts of commercial yield.Statistics on organizations devoted to "R&D" may express the state of an industry, the degree of competition or the lure of progress. Some common measures include:budgets, numbers of patents or on rates of peer-reviewed publications. Bank ratios are one of the best measures, because they are continuously maintained, public andreflect risk.Generally such firms prosper only in markets whose customers have extreme needs, such as medicine, scientific instruments, safety-critical mechanisms (aircraft) orhigh technology military armaments. The extreme needs justify the high risk of failure and consequently high gross margins from 60% to 90% of revenues. That is,gross profits will be as much as 90% of the sales cost, with manufacturing costing only 10% of the product price, because so many individual projects yield no exploitable product. Most industrial companies get only 40% revenues.
On a technical level, high tech organizations explore ways to re-purpose and repackage advanced technologies as a way of amortizing the high overhead. They oftenreuse advanced manufacturing processes, expensive safety certifications, specialized embedded software, computer-aided design software, electronic designs andmechanical subsystems.Research has shown that firms with a persistent R&D strategy outperform those with an irregular or no R&D investment programme. America, to it's credit, was one ofthe first countries in the world to make innovation a top priority. In 1981, an R&D tax credit was introduced, which companies can use to reduce the cost ofinnovating new products and experimenting with new ideas. The R&D tax credit has been a strong incentive and has been used by businesses that have createdmillions of jobs and a number of essential new industries.

A plan for global growth,

A plan for global growth,America cannot yet grow fast enough on its own substantially reduce unemployment and meet the aspirations of the American dream.Europe cannot put its underutilized capacity to work, and therefore unemployment will remain far higher than is economically necessary andsocially acceptable.Chinese consumer spending, today just 3 percent of world economic activity, cannot at this stage replace that lost growth overnight.India, China, Brazil, and Russia—the BRIC countries cannot bridge the growth gap. All their consumer spending added together amounts tono more than 7 percent of world economic activity. And the main developing countries the so called N11 cannot yet fill the gap either.Together with the BRICs, their spending power is one quarter of that of Europe and America.Africa’s entrenched poverty means that millions of potential consumers are simply missing the global economy.I have also discovered that if each country continues to pursue its national policies in isolation, we cannot achieve sufficient and balancedhigh levels of global growth. Instead high unemployment will remain without remedy probably above the 200 million levels --over the nextfew years, we will not see the fast reductions in poverty in the poorer countries of the world that we want to see.In his optimistic five-year projections Jim O’Neill of Goldman Sachs forecasts that the world economy will have grown by 25 percent between2010 and 2015 as a result of continuing high levels of growth in Asia, Latin America, and Africa.But this enormous change in the world economy has little impact on investment in America and Europe, his prediction for which is verybleak. Investment in Europe and America together will be below its 2007 level for the whole of that period. representing a cumulative deficitof $5 trillion by 2015. This deficit in aggregate demand represents, in human terms, large-scale, persistent unemployment.First, I have discovered that America must reduce its consumption as a share of national income; that the best way to achieve this lies in agrowing world economy; and that to succeed in their strategy to double their exports, Americans have to invest quickly to equip themselveswith new and better skills and technology. This is the only long-term way to address middle-class living standards in America: improvingAmericans’ ability to earn by upgrading their skills. But a strategy to double American exports, which assumes high levels of world trade,does not sit easily with a position that by cutting imports threatens world trade.Overcoming the first crisis of Globalization,

This is good book to read: BEYOND THE CRASH　by Gordon Brownhttp

http://www.google.com/search?q=BEYOND+THE+CRASH%E3%80%80by+Gordon+Brown

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