Central Bank Watch
FOMC Statement and the Dollar
October 29, 2008
The FOMC voted unanimously to do what most analysts expected, cut the Fed funds target and discount rate by 50 basis points to 1.0% and 1.25%. The released statement suggests a continuing bias to cut rates. It reads more dovishly than the statement from the prior pre-scheduled meeting on September 16th, which had been held […] More
Central Bank Watch
Norges Bank Cuts Benchmark Rate 50 Bps For Second Time This Month
October 29, 2008
The Norges Bank implemented its second half-percentage point benchmark rate reduction in two weeks. The one on October 15th was the Norwegian central bank’s first easing since a cut to 1.75% in March 2004. In increments of 25 basis points from mid-2005 until mid-2008 including twice in 2008 and seven times in 2007, the rate […] More
Vital Market Signs at Selected Prior FOMC Meetings
October 29, 2008
EUR/$ $/JPY 10Y, % DJIA Oil, $ 06/30/04 1.2173 109.44 4.63 10396 37.95 06/30/05 1.2090 110.89 3.96 10370 57.00 06/29/06 1.2527 116.07 5.20 11077 73.41 06/28/07 1.3452 123.17 5.10 13456 69.82 08/07/07 1.3749 118.55 4.73 13510 72.27 09/18/07 1.3888 115.75 4.51 13475 81.42 10/31/07 1.4458 115.28 4.42 13873 93.59 12/11/07 1.4682 111.49 4.11 13645 […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: Talk of a BoJ Rate Cut
October 29, 2008
According to the Nikkei press quoting informed sources, the BOJ will consider a 25-bp rate cut this Friday. Today, the Fed and Norges Bank are expected to implement rate cuts of 50 basis points. On November 6th, the Bank of England and ECB are likely to reduce their rates. U.S. S&P futures indicate a lower […] More
