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Central Station: Global Selloff Sweeps Emerging Markets
Posted to: Around The Web
Friday, January 24, 2014 2:44 AM

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The Wall Street Journal's Daily Report on Global Central Banks for Friday, Jan. 24 HIGHLIGHTS 1) Central Banks Intervene As Emerging Currencies Get Battered; 2) BOE's Carney Signals Rethink On Forward Guidance; 3) Central Banks Phasing Out Dollar Funding; 4) Central Banker Talks Aussie Dollar Down; 5) China Moves to Avert Shadow Lender's Default; 6) South Korean Central Bank Concerned About Yen's Devaluation HILSENRATH'S TAKE The forward guidance that central bankers provide on their plans for short-term interest rates is turning into an increasing muddle. Since December 2012, the Federal Reserve has said it wouldn't consider short-term interest rate hikes until the jobless rate falls to 6.5% and unless inflation looks to be moving above 2.5%. Last year the Bank of England


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