September 26, 2017
Sean Fenton, portfolio manager of the Tribeca Alpha Plus Fund, writes about China in a column for the AFR:
“The winds of change are beginning to blow through central banks around the world. The US Federal Reserve in recent years has ceased its asset purchase program, raised interest rates several times and will now begin to allow its balance sheet to contract as assets mature. The Bank of Canada has already raised interest rates, the Bank of England has indicated it may need to start raising rates soon and the tea leaves suggest that the European Central Bank will begin to taper the size of monthly bond purchases under its quantitative easing program.
At home, the Reserve Bank of Australia appears to have ruled out further rate cuts and many commentators are looking for rate rises to begin next year. The reason for this shift is a steady improvement in growth, employment and even inflation around the world while the crisis is now firmly behind us.”
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