Central Bank Watch
Reserve Bank of Australia
August 5, 2014
The released statement following the Board’s monthly policy meeting left the 11-month-old 2.5% Official Cash Rate unchanged and signaled that a rate change is still not in the near-term offing. Governor Stevens notes that sub-trend growth is assumed over the coming year mainly because of a significant decline in resource sector investment. Officials are unfazed […] More
Central Bank Watch
Reserve Bank of India’s Bi-Monthly Monetary Statement
August 5, 2014
The RBI’s repo rate was left at 8.0%, and the reverse repo rate will stay at 7.0%. But another 0.5 percentage point cut of the Statutory Liquidity Rate trims such to 22.5%. The statement released by Governor Rajan observes that “CPI inflation excluding food and fuel decelerated further, extending the decline that began in September […] More
Deeper Analysis
U.S. Economic Advantage versus Euro Area Widens for Fifth Straight Month
August 5, 2014
Euroland’s service-sector PMI increased 1.4 points to 54.2 in July. Since the U.S. comparable PMI rose nearly twice as much, however, the differential between the two indices widened 1.3 points to +4.5, and such was 5.5 points better than the spread of -1.0 in February. In conjunction with a 1.8-point widening of the manufacturing PMI […] More
New Overnight Developments Abroad - Daily Update
Better Market Tone of Monday Still Holding
August 5, 2014
Service sector purchasing manager survey results for many economies and Ezone retail sales data are out. There have also been announced interest rate decisions from central banks in India and Australia. Investors now waiting for U.S. data and U.S. market leadership. The dollar has risen 0.3% against the loonie and Swiss franc, 0.2% versus the […] More
