Archive for December 3rd, 2014

Central Bank Watch

Central Bank of Brazil Selic Interest Rate Hiked to 11.75% from 11.25%

December 3, 2014

Brazil has been experiencing minimal growth but also inflation that’s higher than the 2.5-6.5% target.  The central bank policy focus since April 2013 has been countering inflation.  After rising 375 basis points from 7.25% to 11.0% in the ensuing year, monetary policy paused for several months until a 25-basis point increase on October 29 to […] More

Central Bank Watch

Bank of Canada: Policy Still on Hold

December 3, 2014

Canada’s overnight target interest rate was last changed in September 2010 when such was raised to 1.0% from 0.75%.  The last of eight scheduled policy announcements in 2014 states that Canada’s output gap, a gauge of unutilized productive resources, is smaller than had been estimated in the last quarterly Monetary Policy Report released in October.  […] More

Central Bank Watch

Further Monetary Easing Not Taken in Poland But Remains a Future Possibility

December 3, 2014

In the opinion of the Council, the October adjustment of monetary policy and the stable, despite some slowdown, economic growth limit the risk of inflation remaining below the target in the medium term. Therefore, the Council decided to keep the NBP interest rates unchanged. However, the Council highlights that uncertainty regarding the economic conditions in […] More

Deeper Analysis

Gap Widened Sharply in November Between U.S. and Euroland Economic Performances

December 3, 2014

The differential between the sum of the U.S.-minus-Ezone manufacturing and non-manufacturing purchasing manager indices increased 3.6 points last month to a 3-year high of 16.8 points.  The two spreads were similar in size, indicating a roughly equal U.S. advantage of the euro area in both manufacturing and services. The U.S. non-manufacturing PMI rose 2.2 points […] More

New Overnight Developments Abroad - Daily Update

Polarizing Purchasing Manager Trends

December 3, 2014

The November U.S. purchasing managers index jumped by a greater-than-forecast 2.2 points to 59.3, implying very robust non-manufacturing activity.  Sales leaped 4.4 points, while new business advanced by 2.3 points. Britain’s services PMI rebounded 2.4 points to 58.6 in November from October’s 16-month low of 58.6.  Based on an improved composite U.K. PMI of 57.6 […] More

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