The Day Today 6 March 2015

* Fed’s Williams speech AGAIN flags up the importance of lags in monetary policy, dismisses any drag on inflation from the dollar, and warns if you wait too long you have to do more: “Overshooting our target would force us into a much more dramatic rate hike to reverse course, which could have a destabilizing effect on the markets and possibly damage the economic recovery…I see a safer course in a gradual increase, and that calls for starting a bit earlier.”

* SNB made a profit of CHF 38.3bn in 2014, 34.5bn came from FX – 2013 they made a loss of 9bn

* UK REC survey: temp job appointments rose at fastest pace in 5 months, permanent at the highest in 4 months [this survey is usually leading indicator on wage growth]

* Marine Le Pen reiterates that quitting the Euro is the only option for France

* US storage dearth has some analysts expecting $30 oil

* Australia warned of a poorer future, according to the Intergenerational Report 2015 – drop in labour force participation will cut average growth from 3.1% to 2.8%

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