Central Bank Watch
Colombian Central Bank Rate Kept at 4.75% as Expected
December 16, 2011
Speaking about downside risks stemming from Europe and predicting that Colombian CPI inflation will fall below 4% this year on a December-over-December basis, the authorities at the Central Bank of the Republic of Colombia did not raise its key intervention rate for the fourth time in five meetings. The exception was a 25-basis point hike […] More
Foreign Exchange Insights and Next Week
Next Week
December 16, 2011
For the week before Christmas, a fairly sizable number of economic data releases are scheduled. Plus there will be monetary policy meetings in Japan, Sweden, the Czech Republic, Russia, Poland, and Turkey. Japanese markets will be closed Friday for the Emperor’s birthday. The Bank of England and Reserve Bank of Australia both publish minutes of […] More
Foreign Exchange Insights and Next Week
Currency Markets Head into the Home Stretch of 2011
December 16, 2011
Currency trading has unique properties in the final weeks of the calendar year. Market professionals will be closing their books, taking some days off, and generally become less responsive to the flow of fundamental economic and political news than in the other fifty weeks of the year. This is more true of the week before […] More
Central Bank Watch
Possible Turning Point in India’s Monetary Policy Cycle
December 16, 2011
The Reserve Bank of India (RBI) left its monetary policy settings unchanged. The repo (lending) rate and reverse repo (borrowing) rate stayed at 8.5% and 7.5%, and the reserve requirement ratio is 6.0%. There had been thirteen rate hikes since March 9, 2010, culminating in a 25-bp increase at the prior meeting of October 25 […] More
New Overnight Developments Abroad - Daily Update
Lighter Data Calendar at End of Difficult Week
December 16, 2011
Investors await with trepidation the continuing and still-uncontained European sovereign debt and banking crisis. ECB President Draghi maintains the view that the central bank has no silver bullet and that it’s up to national governments to implement asap those steps agreed on December 9. The pessimistic mood is captured by IMF Managing Director Lagarde’s dire […] More
