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Central bank communication challenges - BBH

FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman noted that the Federal Reserve, the ECB and the Bank of Japan’s communications have challenges.

Key Quotes

"Gilt yields are about 2 bp higher across the curve, building on Monday’s move, and have now taken back a large part of the move following Carney’s dovish comments at the Quarterly Inflation Report last week. As we noted earlier in the week, the "temporal inconsistencies" with Carney's forward guidance goes beyond the strategic ambiguity often seen from central bankers and is frustrating investors."

"The Federal Reserve, the ECB and the Bank of Japan’s communications have challenges, but none appear to be as self-contradictory as the BOE. In the end, we stick to our long-held view that the first hike by the BOE will happen next year."

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