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	<title>Monetary Policy &#8211; RFR</title>
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	<description>GLOBAL MACRO AND THEMATIC INDEPENDENT RESEARCH</description>
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	<title>Monetary Policy &#8211; RFR</title>
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		<title>La FED garde la main sur les taux 2 ans et laisse libre cours à l’inflation anticipée…</title>
		<link>https://richesflores.com/2021/03/18/la-fed-garde-la-main-sur-les-taux-2-ans-et-laisse-libre-cours-a-linflation-anticipee-fed-powell-taux2ans-inflation/</link>
					<comments>https://richesflores.com/2021/03/18/la-fed-garde-la-main-sur-les-taux-2-ans-et-laisse-libre-cours-a-linflation-anticipee-fed-powell-taux2ans-inflation/#respond</comments>
		
		<dc:creator><![CDATA[Véronique Riches-Flores]]></dc:creator>
		<pubDate>Thu, 18 Mar 2021 08:13:42 +0000</pubDate>
				<category><![CDATA[Banques Centrales]]></category>
		<category><![CDATA[Monetary Policy]]></category>
		<category><![CDATA[Sur le vif]]></category>
		<category><![CDATA[anticipations d'inflation]]></category>
		<category><![CDATA[FED]]></category>
		<category><![CDATA[J. Powell]]></category>
		<guid isPermaLink="false">https://richesflores.com/?p=14392</guid>

					<description><![CDATA[… Le dollar trinque, l’or salue l’évacuation du risque de changement de...]]></description>
		
					<wfw:commentRss>https://richesflores.com/2021/03/18/la-fed-garde-la-main-sur-les-taux-2-ans-et-laisse-libre-cours-a-linflation-anticipee-fed-powell-taux2ans-inflation/feed/</wfw:commentRss>
			<slash:comments>0</slash:comments>
		
		
			</item>
		<item>
		<title>The euro’s exchange rate is the ECB’s main concern, and so forging ahead on its chosen path is understandable</title>
		<link>https://richesflores.com/2017/10/30/the-euros-exchange-rate-is-the-ecbs-main-concern-and-so-forging-ahead-on-its-chosen-path-is-understandable-bce-draghi-euro/</link>
		
		<dc:creator><![CDATA[Véronique Riches-Flores]]></dc:creator>
		<pubDate>Mon, 30 Oct 2017 09:19:11 +0000</pubDate>
				<category><![CDATA[Euro zone]]></category>
		<category><![CDATA[European Monetary Union]]></category>
		<category><![CDATA[Monetary Policy]]></category>
		<category><![CDATA[WEEKLY]]></category>
		<category><![CDATA[BCE]]></category>
		<category><![CDATA[Draghi]]></category>
		<category><![CDATA[EURO]]></category>
		<guid isPermaLink="false">https://richesflores.com/?p=8941</guid>

					<description><![CDATA[When, in September, Mario Draghi mentioned the euro exchange rate as one...]]></description>
		
		
		
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		<item>
		<title>Are Ms Yellen and Mr. Draghi overstepping their boundaries?</title>
		<link>https://richesflores.com/2014/09/13/are-ms-yellen-and-mr-draghi-overstepping-their-boundaries/</link>
		
		<dc:creator><![CDATA[Véronique Riches-Flores]]></dc:creator>
		<pubDate>Sat, 13 Sep 2014 15:22:53 +0000</pubDate>
				<category><![CDATA[GLOBAL MACRO]]></category>
		<category><![CDATA[Monetary Policy]]></category>
		<category><![CDATA[WEEKLY]]></category>
		<guid isPermaLink="false">https://richesflores.com/?p=4560</guid>

					<description><![CDATA[Considering Janet Yellen’s comments on poverty and inequality or Mario Draghi's talk of needing to stimulate demand, the messages from central bankers these days have shifted considerably. Against vastly different backdrops, the new posture by the monetary chiefs on both sides of the Atlantic raises a number of questions. 
<br/>
<br/>
<br/>]]></description>
		
		
		
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		<item>
		<title>China: desperately seeking growth drivers</title>
		<link>https://richesflores.com/2014/03/24/china-desperately-seeking-growth-divers/</link>
		
		<dc:creator><![CDATA[Véronique Riches-Flores]]></dc:creator>
		<pubDate>Mon, 24 Mar 2014 12:01:36 +0000</pubDate>
				<category><![CDATA[China]]></category>
		<category><![CDATA[GLOBAL MACRO]]></category>
		<category><![CDATA[Monetary Policy]]></category>
		<guid isPermaLink="false">https://richesflores.com/?p=3207</guid>

					<description><![CDATA[<b>How bad has the Chinese economy gotten to warrant such a firm reaction by Chinese authorities in recent weeks? </b>

Since mid-January, the People’s Bank of China has orchestrated a 3% fall in the yuan. Our suspicions of a shift in currency policy are being confirmed  and if such a move was intended to spark volatility to discourage capital inflows the strategy has certainly been successful. And the movement could well continue because China seems to be in disarray as it faces a major problem: mopping up excess private debt in the economy while maintaining growth. It is a tall task and growing evidence suggests that the 2014 GDP growth target of 7.5% is becoming less and less credible.]]></description>
		
		
		
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		<item>
		<title>Mr. Draghi Seems Quite Sure of Himself…</title>
		<link>https://richesflores.com/2014/03/07/mr-draghi-seems-quite-sure-of-himself/</link>
		
		<dc:creator><![CDATA[Véronique Riches-Flores]]></dc:creator>
		<pubDate>Fri, 07 Mar 2014 12:01:36 +0000</pubDate>
				<category><![CDATA[Euro zone]]></category>
		<category><![CDATA[GLOBAL MACRO]]></category>
		<category><![CDATA[Inflation]]></category>
		<category><![CDATA[Japan]]></category>
		<category><![CDATA[Monetary Policy]]></category>
		<guid isPermaLink="false">https://richesflores.com/?p=3076</guid>

					<description><![CDATA[The President of the ECB is confident in his ability to stare down deflation risk and bring the inflation rate up to its official target of 2%...on a 2016 horizon. Well that was reassuring; the euro celebrated the news by increasing to USD 1.386 this morning, a record since October 2011! Could we have expected anything different? Apparently not. The ECB wasn’t about to shoot itself in the foot by announcing that its forecast pointed to a deflationary scenario, tacitly recognizing that it would fail in its deflation battle]]></description>
		
		
		
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		<item>
		<title>Strong Buy Latvia!</title>
		<link>https://richesflores.com/2014/01/03/strong-buy-latvia-2/</link>
		
		<dc:creator><![CDATA[Véronique Riches-Flores]]></dc:creator>
		<pubDate>Fri, 03 Jan 2014 17:52:05 +0000</pubDate>
				<category><![CDATA[Euro zone]]></category>
		<category><![CDATA[GLOBAL MACRO]]></category>
		<category><![CDATA[Monetary Policy]]></category>
		<category><![CDATA[EMU]]></category>
		<category><![CDATA[Interest Rates]]></category>
		<category><![CDATA[Latvia]]></category>
		<guid isPermaLink="false">https://richesflores.com/?p=2627</guid>

					<description><![CDATA[6%, the hypothetical differential with EMU 17 nominal interest rates required by Latvia to accompany its economic convergence over the next quarter century.<br/>
+ 6: That’s how many countries have joined the European Monetary Union since 2007. At the rate we’re going, the EMU could expand from 18 to 25 members within ten years, or even more—unless, of course, it sheds a few and actually shrinks. But who’s to know, and how to know, where such a deeply dysfunctional currency bloc is heading?<br/>
Latvia’s EMU membership offers a good opportunity to step back and focus on a crucial underlying issue often overlooked by economists: fast-tracking insufficiently developed economies into the currency bloc is irresponsible policy. ]]></description>
		
		
		
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		<item>
		<title>Bernanke and the Fool’s Gold of Falling Unemployment</title>
		<link>https://richesflores.com/2013/07/05/bernanke-and-the-fools-gold-of-falling-unemployment/</link>
		
		<dc:creator><![CDATA[Véronique Riches-Flores]]></dc:creator>
		<pubDate>Fri, 05 Jul 2013 16:16:47 +0000</pubDate>
				<category><![CDATA[GLOBAL MACRO]]></category>
		<category><![CDATA[Monetary Policy]]></category>
		<category><![CDATA[United States]]></category>
		<category><![CDATA[U.S. Unemployment]]></category>
		<guid isPermaLink="false">https://richesflores.com/?p=1876</guid>

					<description><![CDATA[The last time U.S. unemployment fell below the 6.5 percent mark, the country’s GDP was growing at an annual clip of about 3 percent, real household spending was rising at nearly 4 percent a year, monthly job creation was flirting with 300,000, and annual wage growth was just over 2.5 percent. That was back in March 1994, but similar conditions prevailed in March 1987 and in December 1977. Each time around, labor utilization and capacity utilization were close to potential output—making monetary tightening to one degree or another the right choice. And each time around, a cycle of higher interest rates duly ensued. But in 2003 and 2004, the economic climate was entirely different. Not only had the jobless rate been stuck below 6.5 percent for about a decade; there wasn’t a single blip on the radar screen to suggest that the economy might overheat.]]></description>
		
		
		
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