Foreign Exchange Insights and Next Week
Next Week
May 9, 2014
The focus next week will be on first-quarter GDP growth. Economies for whom national income account data are being released range from Japan to the euro area, Russia, Czech Republic, Romania, Germany, France, Italy, the Netherlands, Austria, Hungary, Poland, Cyprus, Greece, Hong Kong and Peru. Bank of Japan Governor Kuroda speaks publicly during the week, […] More
Central Bank Watch
Bank of Korea
May 9, 2014
The seven-day repo rate, which has been at 2.5% for the past 12 months, was again not changed after the latest policy meeting. There had been some speculation that monetary policy normalization might start before the end of 2014, and a statement released today projects that Korea’s negative output gap will narrow gradually. But officials […] More
Central Bank Watch
Central Reserve Bank of Peru
May 9, 2014
The BCRP reference interest rate was left at 4.0%, the level since a 25-basis point cut last November that happened to be the first decline in over four years. Bank Board officials released a statement that observed Sub-potential recent growth in economic activity; Moderating upward supply-side pressure on inflation; Well-anchored inflation expectations that are consistent […] More
New Overnight Developments Abroad - Daily Update
Euro Weakens Further in Post-Draghi Reaction
May 9, 2014
The takeaway from yesterday’s ECB press conference is that it’s a matter of what kind of stimulus the ECB will announce next month, rather than whether something is going to be introduced then. A big part of this preparation stems from mounting frustration with the euro’s prior appreciation and how the currency’s strength could promote […] More
