Archive for October 6th, 2011

Central Bank Watch

Peru’s Reference Monetary Policy Rate Left at 4.25%

October 6, 2011

The Central Reserve Bank of Peru did not change policy this month but served notice that it is watching global growth risks very carefully in a  statement posted on its web site.  The statement also observes a recent moderation in Peruvian growth.  This decision takes into account the slowdown observed in some components of expenditure […] More

Central Bank Watch

Bank of Japan Preview

October 6, 2011

The Bank of Japan completes a two-day regular monthly monetary policy meeting Friday.  These days monetary policy meetings everywhere have become more difficult to predict.  Global headwinds rippling outward from Europe’s debt crisis have created financial market tensions for everybody, including Japan.  The global situation is very fluid, so a relatively upbeat message from the […] More

Central Bank Watch

ECB Makes Changes in Non-Standard Measures but Not Interest Rates

October 6, 2011

In the final ECB Governing Council meeting to be led by the outgoing Jean-Claude Trichet, non-unanimous votes were taken to keep interest rates steady but to add “very important” non-standard measures that will hopefully restore a better transmission of the bank’s interest rate signals.  A statement from the council failed to call existing policy “accommodative,” […] More

Central Bank Watch

Bank of England Eases Monetary Policy

October 6, 2011

The Monetary Policy Committee (MPC) didn’t wait for next month’s quarterly inflation report to react to a worsening economic outlook.  While keeping the Bank Rate steady at its historic low of 0.5% (the level since March 2009), the MPC voted to enlarge the size of the asset purchase program by GBP 75 billion to GBP […] More

New Overnight Developments Abroad - Daily Update

Share Prices Up Ahead of ECB Press Conference

October 6, 2011

The dollar dropped 0.8% and 0.6% overnight against the Australian and New Zealand currencies.  The greenback also lost 0.3% against the yen, 0.2% versus sterling and 0.1% relative to the euro.  The Canadian dollar, Swiss franc and Chinese yuan are unchanged. With China still closed, share prices in the Pacific Rim advanced 4.6% in Indonesia, […] More

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