Not only it has deteriorated, it is still deteriorating. That is particularly true in the Northern Europe, in the core countries like Germany etc. Nevertheless, the situation might begin to improve in some of the Southern European counties, but if we consider the Eurozone as a whole, the situation is certainly worsening.
I believe that there is a decent possibility of the Australian Dollar falling further.
As a matter of fact things are getting somewhat better.
I believe that it is a combination of both. There are some economic issues that lead to the Eurozone crisis in the sense that private debt in some countries, and especially in peripheral countries like Spain and Ireland, either exploded or rose very substantially after the start of the monetary union.
I do not think there would be many reforms overtaken from Canada, as they have not experienced the same kind of problems as the U.K has. In fact, the Canadian economy is being more resilient and stronger.
One of the main drivers for the recent Yen decline is the on-going easing by the Bank of Japan, and determination of the central bankers and the government to hit 2% inflation target in 2-year time means that the BOJ is now buying a lot of bonds and printing money.
Throughout this year I doubt that it will be the case, since the Sterling is not going to strengthen on the back of improvements in the nation's economy alone.
I believe this is not going to have a huge impact on the overall economy, as interest rates were already relatively low.
I do not think that it should be a concern. Although, it is a technical definition of the bear market, I do not see gold in the bear market as yet.
The phrase "High-frequency trading" is a vague catchall term that has been applied to anyone using a fast computer.
To my mind, the United Kingdom is probably in a middle of stagnant activity with a little growth.
In recent years silver prices have been following gold prices quite closely. During last 5 years silver prices have moved in the same direction as gold, though more sharply.
Actually, we do not think that the European Central Bank will cut the repo rate.
Germany is not a burden at all when it comes to a current account surplus. Actually, much of the surplus is coming from outside of the Eurozone, thus this is definitely a beneficial inflow into Europe. Germany's strict approach to monetary policy may be a burden, but their CA surplus is not.
We believe that in a very short run a bounce is possible, whereas in the medium risks are still on the downside.
We do not consider this outcome to be realistic. The previous bailout package for peripheral countries like Greece, Portugal and Ireland has mainly conveyed that the Eurozone is willing to stay intact. We consider the Eurozone breakup risk to be very minimal as the ECB with its OMT announcement still has its effect on keeping the market calm.
The RBA expects the Australian economy to go through a period of transition: away from a very intensive period of investment in the mining sector towards a new era.
I think the timeline that we are looking at is certainly showing an increase. However, over the last 3 years, crude has not really risen.
As Ben S. Bernanke mentioned, it is not only the headline employment, which is important, but it is also quality of improvement in employment.
However, South Korea will not result in the everlasting recession like Japan.
We expect the Eurozone's economy to worsen, but only to a limited extent.
We do not believe that the Swedish Krona is ever going to have a status of a safe haven currency.
One of the key events is the BOJ monetary policy meeting that will take place from 3 to 4 April. This is the first meeting for the new BOJ Governor Haruhiko Kuroda.
I think it has to do with the substantial amount of foreign deposits, which are mainly held by Russians and by other perhaps dubious sources. As the German parliamentary elections are looming in September this year, it would be a hard-sell to bailout Russian oligarchs using German taxpayers' money. To my mind, this is the key reason why the discussion