Central Bank Watch
Bank of England Preview: No Changes this Month but May’s Decision is Still Up in the Air
April 4, 2012
The Monetary Policy Committee’s decision, due at 11:00 GMT on Thursday, is expected to be no different from that in March. The 0.5% Bank Rate will be retained for one thing, its level for the past 37 months. For another, a likely 7-2 vote will keep the asset purchase plan limit at GBP 325 billion. […] More
Central Bank Watch
Polish Monetary Authorities Serve Notice of Possible Near-Term Rate Increase
April 4, 2012
A statement from the National Bank of Poland following this week’s monthly meeting of policymakers concludes The Council decided to keep the NBP interest rates unchanged. In the opinion of the Council, the expected mild economic slowdown in Poland over the monetary policy horizon increases the probability of inflation remaining above the target in the […] More
Deeper Analysis
Service Sector U.S. and Euroland PMIs in March
April 4, 2012
Service sector activity continued to expand in March, albeit less rapidly than forecast according to the latest purchasing managers survey. By comparison, euro area activity contracted for the second straight month and sixth time in the last seven months. Since Euroland’s pace of decline was slower than in February, and America’s pace of rise was […] More
Central Bank Watch
ECB: No Policy Changes, Predictable Thought Process
April 4, 2012
The ECB Governing Council left its 1.0% refinancing rate, 0.25% deposit rate, and 1.75% marginal lending rates unchanged as analysts were expecting. President Draghi’s introductory statement contained no notable surprises. While CPI inflation is likely to remain above 2.0% in 2012 because of elevated energy costs and higher indirect taxes, medium-term price expectations remained anchored […] More
New Overnight Developments Abroad - Daily Update
Markets in a Risk-Averse State of Mind as Easter Break Nears
April 4, 2012
The Nikkei tumbled 2.3%, and the German Dax, Paris Cac, and British Ftse show drops of 1.8%, 1.2%, and 1.1% so far. Stocks fell 1.9% in Indonesia, 1.1% in Thailand, 1.0% in Singapore, 1.5% in South Korea, 0.5% in Malaysia, 0.6% in India and 0.4% in The Philippines. Investor caution was fanned by weakly subscribed […] More
