Archive for October 29th, 2014

Central Bank Watch

Reserve Bank of New Zealand Continues 3.5% Official Cash Rate

October 29, 2014

Four 25-basis point interest rate hikes were implemented this year at meetings in March, April, June and July, but this month’s meeting like that in September kept policy on hold.  Indeed, the kiwi remains too high, CPI inflation is still only modest, and house price pressures have eased significantly. Lower commodity prices and increased global […] More

Central Bank Watch

FOMC Statement Review

October 29, 2014

The FOMC statement upgrades the assessment of labor market conditions, calling employment growth solid and unemployment lower, and terminates QE3.  Moreover, the statement does not cite slower global growth, and it says the likelihood of inflation persistently below 2% has diminished somewhat.  The language of forward interest rate guidance was not changed, however, anticipating no immediate […] More

New Overnight Developments Abroad - Daily Update

Waiting for the Fed Announcement

October 29, 2014

The dollar and yen have slipped 0.4-0.5% against the euro, Swiss franc and Aussie dollar. Japan’s Nikkei and Hong Kong’s Hang Seng closed 1.5% and 1.3% stronger.  Stocks are up 0.6% in Germany and Britain. The Japanese 10-year JGB fell a basis point to 0.45%, while the German bund and British gilt marked time. Oil […] More

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