Archive for November 4th, 2014

Central Bank Watch

National Bank of Romania Eases Monetary Policy in Three Ways

November 4, 2014

A quarterly review of the outlook for inflation in which the forecast was cut sharply to 1.5% at end-2014 and 2.2% at end-2015, provided an opportunity for monetary officials to ease policy further.  In explaining the forecast change, a released statement calls attention to “the persistence of the negative output gap, the consolidation of inflation […] More

Central Bank Watch

Reserve Bank of Australia

November 4, 2014

The Official Cash Rate has been 2.5% since August 2013 and will continue at that level.  Two 25-basis point cuts administered in May and August of that year followed reductions totaling 125 bps in 2012 and 50 bps in 2011.  The current stance is “accommodative” yet “appropriate,” according to the RBA Board in light of […] More

New Overnight Developments Abroad - Daily Update

Grim EU Economic Outlook in the Spotlight

November 4, 2014

The EU Autumn economic outlook was released, revising projected real growth for the euro area  in 2014 down 0.4 percentage points to 0.8% and projected 2015 growth down 0.6 percentage points to 1.1%.  Previously, GDP decelerated from 2.5% per annum in 1995-99 to a 1.9% pace in 2000-04 and 0.7% per annum in 2005-09, and […] More

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