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TOP 5 key events in 2015
On the nose the New Year and it's time to tamp up: what kind of events rocked the outgoing year, the rating of the highlights of 2015, which went down in history. And raising interest rates the Fed is not in the first place
1 place
Disclaimer Swiss Bank from binding to Euro.
January 15, 2015, the Swiss National Bank to its unscheduled statement refused to bind to the euro, which triggered substantial sales of euro against the franc. It is terrible to write numbers the market reaction, see chart. After the event, it was announced a series of bankruptcies dealing companies, including the announced closure of the British Office Alpari. There have even been affected by such giants as FXCM.
2nd place
Raising the interest rate the Fed.
The most awaited event of 2015, but gets the second place for the sole reason that the consequences of the actions of the National Bank of Switzerland in 2015 were much more significant. In fact, the Fed has opened the door to a new era, officially recognizing the viability of its economy, the first time since the 2008 crisis.
Debt market were to increase, perhaps the most memorable step in this direction was to remove the words «considerable time» protocol, with its replacement by slovoobort «patient», the market reaction to this fact was excessive, causing dissatisfaction with the Fed, which in its next the report noted: «financial markets might overreact» (the reaction was excessive). Of course, then "Terman (patient)» have changed, but the «considerable time» long irritated markets.
Then there was September. September likely interest rate increase of about 20%.
All this was accompanied by the constant nervousness Non-Farm Payrolls, which was and remains a benchmark of expectations about monetary policy.
3rd place
Failure to expand QE by the ECB
This event is the eccentricity could easily be in the second place, the more that it is precisely the volatility pulls, but the Fed still - it is more a historical event.
Moreover, quite a long time in 2015 EUR ill "Tsipras' disease is activated with the victory of the opposition party" Syriza ", which is populism against Greek debt hit a majority in the Greek parliament. Then the party leader Tsipras said that the era of rasklanivaniya to creditors over. But he was wrong. Greece has been negotiating for a long time, which gave birth to a lot of jokes. We do not agree. We held a referendum, and it seems just wasted money for his conduct. As a result, Greece has given its state assets, raised taxes and spent the pension reform.
Greece tortured not only the European Union, its alleged default was reflected throughout the financial world, giving rise to a new term «Grexit».
But back to our sheep, the European Central Bank not only managed to launch an incentive program this year (March 9), but has managed to substitute its adjustments. First Mario Draghi said that the scope of the leniency program will be increased, and in December, in fact, said that the amount will remain the same as the "current practices" enough.
Right after this press conference, he had to defend and reassure the markets, but a grudge against him now hold many including Goldman Such, which badly battered the news.
4th place
Changing the direction of monetary policy the Bank of England.
If in July, Mark Carney, will speak on the background of determination of rate hikes, threw a pound circulation on the local maxima of 100 points, then in August, the situation was reversed: the Bank of England inflation report and made a rather serious doubts about the determination of the regulator.
In November and did the Bank of England hawk officially left the club, leaving the Americans alone.
This led not only to the volatility in this period, but also expectations of further actions of the Bank of England for the entire 2016, when the interest rate increase is expected only at the end, and is in doubt.
5th place
Changes in interest rates in 2015
The Bank of Canada cut interest rates twice this year, in general, from 1% to 0.5%, in addition, a low level of oil prices and the likely slow regulation by the Fed, may force the Bank to resort to additional relief measures.
Reserve Bank of Australia for the first time since 2013 has reduced the interest rate of 3 February, 2015.
In general, the Bank has made in 2015 made two iterations of lowering the interest rate from 2.5% to 2.0% currently. Historically, this is the minimum interest rate.
The Reserve Bank of New Zealand at the beginning of the year was in the status of the desired increase in the interest rate, but in March, moved to a lower level in the "pending" and actually cut interest rates in June.
Decrease in interest rates in June
RBNZ as a whole in 2015 lowered the interest rate from 3.5% to 2.5% for this he needed 4 iterations.
Riksbank first time in February 2015 to a negative interest rate unchanged at 0.1%.
In general, the bank cut rates three times to 0.35%.
Norges Bank twice a year to cut interest rates: from 1.25% to 0.75%
TOP 5 key events in 2015
On the nose the New Year and it's time to tamp up: what kind of events rocked the outgoing year, the rating of the highlights of 2015, which went down in history. And raising interest rates the Fed is not in the first place
1 place
Disclaimer Swiss Bank from binding to Euro.
January 15, 2015, the Swiss National Bank to its unscheduled statement refused to bind to the euro, which triggered substantial sales of euro against the franc. It is terrible to write numbers the market reaction, see chart. After the event, it was announced a series of bankruptcies dealing companies, including the announced closure of the British Office Alpari. There have even been affected by such giants as FXCM.
2nd place
Raising the interest rate the Fed.
The most awaited event of 2015, but gets the second place for the sole reason that the consequences of the actions of the National Bank of Switzerland in 2015 were much more significant. In fact, the Fed has opened the door to a new era, officially recognizing the viability of its economy, the first time since the 2008 crisis.
Debt market were to increase, perhaps the most memorable step in this direction was to remove the words «considerable time» protocol, with its replacement by slovoobort «patient», the market reaction to this fact was excessive, causing dissatisfaction with the Fed, which in its next the report noted: «financial markets might overreact» (the reaction was excessive). Of course, then "Terman (patient)» have changed, but the «considerable time» long irritated markets.
Then there was September. September likely interest rate increase of about 20%.
All this was accompanied by the constant nervousness Non-Farm Payrolls, which was and remains a benchmark of expectations about monetary policy.
3rd place
Failure to expand QE by the ECB
This event is the eccentricity could easily be in the second place, the more that it is precisely the volatility pulls, but the Fed still - it is more a historical event.
Moreover, quite a long time in 2015 EUR ill "Tsipras' disease is activated with the victory of the opposition party" Syriza ", which is populism against Greek debt hit a majority in the Greek parliament. Then the party leader Tsipras said that the era of rasklanivaniya to creditors over. But he was wrong. Greece has been negotiating for a long time, which gave birth to a lot of jokes. We do not agree. We held a referendum, and it seems just wasted money for his conduct. As a result, Greece has given its state assets, raised taxes and spent the pension reform.
Greece tortured not only the European Union, its alleged default was reflected throughout the financial world, giving rise to a new term «Grexit».
But back to our sheep, the European Central Bank not only managed to launch an incentive program this year (March 9), but has managed to substitute its adjustments. First Mario Draghi said that the scope of the leniency program will be increased, and in December, in fact, said that the amount will remain the same as the "current practices" enough.
Right after this press conference, he had to defend and reassure the markets, but a grudge against him now hold many including Goldman Such, which badly battered the news.
4th place
Changing the direction of monetary policy the Bank of England.
If in July, Mark Carney, will speak on the background of determination of rate hikes, threw a pound circulation on the local maxima of 100 points, then in August, the situation was reversed: the Bank of England inflation report and made a rather serious doubts about the determination of the regulator.
In November and did the Bank of England hawk officially left the club, leaving the Americans alone.
This led not only to the volatility in this period, but also expectations of further actions of the Bank of England for the entire 2016, when the interest rate increase is expected only at the end, and is in doubt.
5th place
Changes in interest rates in 2015
The Bank of Canada cut interest rates twice this year, in general, from 1% to 0.5%, in addition, a low level of oil prices and the likely slow regulation by the Fed, may force the Bank to resort to additional relief measures.
Reserve Bank of Australia for the first time since 2013 has reduced the interest rate of 3 February, 2015.
In general, the Bank has made in 2015 made two iterations of lowering the interest rate from 2.5% to 2.0% currently. Historically, this is the minimum interest rate.
The Reserve Bank of New Zealand at the beginning of the year was in the status of the desired increase in the interest rate, but in March, moved to a lower level in the "pending" and actually cut interest rates in June.
Decrease in interest rates in June
RBNZ as a whole in 2015 lowered the interest rate from 3.5% to 2.5% for this he needed 4 iterations.
Riksbank first time in February 2015 to a negative interest rate unchanged at 0.1%.
In general, the bank cut rates three times to 0.35%.
Norges Bank twice a year to cut interest rates: from 1.25% to 0.75%
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