Central Bank Watch
Bank of Mexico Reduces Benchmark Rate By 75 Bps to 6.0%
April 17, 2009
Mexico’s central bank engineered its fourth rate cut of 2009, matching the expected 75-basis point size. Prior cuts amounted to 75 bps on March 20, 25 bps on February 27, and 50 bps on January 16th. Central bank officials again reacted to weaker-than-anticipated growth and despite on-year CPI inflation of 6.0%, implying a zero real […] More
Foreign Exchange Insights and Next Week
Next Week
April 17, 2009
Next week ends with a G-7 meeting of finance ministers and central bank chiefs and includes the annual British budget on Wednesday. Central bank interest rate policy meetings are scheduled in Canada, Sweden, Colombia, Hungary and India. The Bank of Canada releases a semi-annual Monetary Policy Report. The Bank of Japan publishes results of the […] More
Foreign Exchange Insights and Next Week
Weekly Foreign Exchange Insights: April 17th
April 17, 2009
Some foreign exchange market trends during the financial market crisis make considerable sense, like the losses of commodity-sensitive currencies such as the rand, Australian dollar, New Zealand kiwi, and Canadian dollar or the currency troubles of numerous overly indebted East European economies. Other developments have not been especially intuitive. The strongest and weakest G-7 currencies […] More
Canadian CPI Inflation Subdued
April 17, 2009
Canadian on-year inflation settled back to 1.2% in March from 1.4% in February. Such had also been at 1.2% in December and 1.1% in January. The seasonally adjusted consumer price index dropped on month for the third time in four tries. The monthly dip in March was 0.3% and resulted in no change from December […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: European Currencies Weaker
April 17, 2009
The dollar advanced 1.5% against the Swiss franc and 0.9% against sterling and the euro. Comments by Trichet failed to dispel perceptions of a split among ECB policymakers over quantitative easing and how low interest rates can go. The dollar otherwise edged up 0.2% against the Canadian dollar and 0.1% relative to the yen, while […] More
