Central Bank Watch
ECB Doesn’t Send a Message of Urgency to Ease Further
January 12, 2012
The ECB announced no new stimulus steps, having done plenty in December. In contrast to the expectation of substantial further policy easing in February or March by many analysts, today’s statement and comments to the press did not offer reinforcing verbal support for that belief. In his third press conference since taking the helm of […] More
Central Bank Watch
Bank Indonesia: Keeps Reference Interest Rate Steady at 6.0%
January 12, 2012
In this month’s statement, monetary officials asserted that a 6.0% key interest rate would promote economic growth of some 6.5% this quarter and 6.3-6.7% in 2012 yet also be consistent with the lowered inflation target of 3.5-5.5%. Inflation in 2011 of 3.8% on average was slightly less than the 4-6% target range for that year. […] More
Central Bank Watch
Bank of England: No New Stimulus Unveiled this Time
January 12, 2012
British monetary policy settings were not changed, nor were they expected to be. The Bank rate has been at 0.5%, since it was halved 34 months ago in March 2012. The ceiling on the asset purchase program (a form of quantitative easing) was last lifted in October 2011, going from GBP 200 billion previously to […] More
New Overnight Developments Abroad - Daily Update
Waiting for Draghi’s Press Conference and U.S. Retail Sales
January 12, 2012
Equities show overnight gains of 1.4% in Germany and 1.2% in France ahead of the ECB policy announcement and monthly press conference. The dollar is down 0.3% against the euro and 0.5% softer relative to the Swiss franc. The dollar otherwise has dipped 0.2% against the loonie and 0.1% versus sterling, while firming 0.1% against […] More
