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How Draghi's Perfect Timing Will Save Europe
Timing may prove everything for Mario Draghi.
Fed seen remaining patient with rate guidance amid global turmoil
(Reuters) - The Federal Reserve is expected to signal it remains on track to begin raising interest rates later this year, as the central bank shows confidence that low inflation and rising risks from abroad have yet to derail the U.S. economic recovery.
The Fed's first two-day policy meeting of the year concludes on Wednesday, and policymakers will likely restate their "patient" approach to raising rates, while also voicing faith that theeconomy will continue improving.
Fed Chair Janet Yellen faces growing skepticism that the central bank can tighten monetary policy by mid-year, with a strengthening dollar and falling oil prices adding to worries that inflation readings remain too low for the Fed to begin hiking.
Ringgit Falls After Singapore Unexpectedly Eases Monetary Policy
(Bloomberg) -- Malaysia's ringgit dropped after Singapore unexpectedly loosened monetary policy, joining a global round of easing amid slowing economic growth and the risk of deflation.
The Singapore dollar fell as much 1.3 percent against the greenback, the biggest loss since 2010, as the central bank said Wednesday it will reduce the slope of its currency band while sticking with a modest and gradual appreciation. Malaysia's monetary authority meets today and the consensus in a Bloomberg survey is for no change.
"The ringgit is weakening because of the surprise move by the Monetary Authority of Singapore," said Jonathan Cavenagh, a foreign-exchange strategist at Westpac Banking Corp. in Singapore. "That's the main driver."
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