The improvement is also the expected response to monetary and fiscal stimulus, both of which have been exceptionally aggressive.
On July 5th, after The Economist had gone to press, both the ECB and the Bank of England were expected to ease monetary policy.
The Bank of Japan on Thursday left its monetary policy unchanged, as expected, after its latest meeting on monetary policy.
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The FOMC is expected to announce new monetary stimulus measures at their December meeting, which concludes Wednesday.
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Departing Bank of Japan Gov. Masaaki Shirakawa expressed doubts about the aggressive monetary policy expected to be adopted by his successor.
At the same time, overseas traders are preparing for a Tuesday announcement from the Bank of Japan, which is expected to introduce more monetary easing.
Japan's parliament has approved Haruhiko Kuroda as governor of the Bank of Japan, who is expected to push for monetary stimulus to boost growth in the world's third-largest economy.
Officials are not expected to announce any new monetary policies, such as third round of quantitative easing or similar measures, at their first meeting in 2012.
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The FOMC is expected to make no major monetary policy shifts, but the market place will be very closely scrutinizing wording from the FOMC statement issued following the meeting.
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The ECB did not make any big changes to its monetary policy, as expected.
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This was expected to increase pressure on the Monetary Policy Committee to start raising interest rates.
However, a more dovish stance is to be expected and the door for more monetary stimuli will be kept open.
The gravest risk is that the surge in inflation might force the Bank of England to tighten monetary policy sooner than expected.
The Japanese Yen has already depreciated sharply in anticipation of this sharp shift in monetary policy and is expected to depreciate further as the new policy is implemented.
Interest rates are unlikely to rise as sharply as had been expected in November, partly because monetary policy has already been tightened since then by the appreciation of the pound.
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If not QE3, some other type of action to further loosen monetary policy is increasingly expected from the Federal Reserve, said Sterling Smith, commodity trading adviser and market analyst with Country Hedging.
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At the press conference by Draghi, he is expected by many to announce a fresh monetary stimulus package.
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The ECB is not expected to make any big changes to monetary policy.
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The ECB is expected by many to announce a fresh monetary stimulus package.
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The expansion in GDP came as inflation climbed more than expected, raising some concerns about how monetary policy juices the economy.
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His comments came as the International Monetary Fund said it now expected the UK economy to shrink by 0.4% this year.
Asian indexes closed with losses after China released greater-than-expected inflation data, potentially signally further monetary tightening and anti-inflationary measures in the PRC.
The Bank of Japan kept its monetary policy unchanged, as expected.
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Asian stocks were mixed Monday, with Asian traders awaiting the Bank of Japan meeting on Tuesday, which is expected to see the BOJ announce further monetary stimulus measures for the Japanese economy.
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The European Central Bank, the Bank of England and the Bank of Japan are all expected to stick to ultra-easy monetary policy at meetings this week, following on from reassurances by U.S. Federal Reserve officials that their stimulus program remains in place.
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Rates so low seem to be depressing the dollar and pushing commodity prices upward, and the central bankers might be expected to try to tighten up their monetary policy if there was any serious signs of inflation or if the economy wasn't seen teetering on the verge of recession.
More important, however, current inflation rates matter far less to monetary-policy makers than does expected inflation.
Gold futures pared their losses slightly Wednesday after the Federal Open Market Committee signaled it is staying the course with loose monetary policy, as had been expected.
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