Archive for March 5th, 2015

Central Bank Watch

Bank of England Releases Uninformative Statement Keeping Existing Policy Settings

March 5, 2015

At meetings when the nine-person Monetary Policy Committee chooses not to modify policy, as was the case this month and most of the time, officials almost never disclose extra information beyond when policy was changed, the size of that change, and the release time for minutes of the meeting just completed.  Today’s statement instructs those […] More

Central Bank Watch

Central Bank of Malaysia: Steady as She Goes

March 5, 2015

The official policy rate of Bank Negara Malaysia has been at 3.25% since a 25-basis point hike last July, which was its first change since four such increases in the 14 months between March 2010 and May 2011.  Real GDP expanded nearly 6% between 4Q13 and 4Q14, CPI inflation is hovering currently around 1%.  A […] More

Central Bank Watch

Draghi Press Conference Remarks in Nicosia Sends Euro Near to Cusp of $1.1000

March 5, 2015

After the second of eight scheduled meetings of the ECB Governing Council, held off-sight in Nicosia, a statement was release informing us that The ECB refinancing rate, marginal lending facility rate, and deposit rate were left unchanged at 0.05%, 0.30%, and -0.20%. New staffing GDP and CPI forecasts had been crunched and for the first […] More

New Overnight Developments Abroad - Daily Update

Report of Weak German Orders and a Difficult Day for the Kiwi

March 5, 2015

The New Zealand dollar sank 1.0% against the dollar and fell to a one-month low against the Australian dollar on the possibility that the Reserve Bank of New Zealand might resort to property market-specific regulatory changes instead of and delaying a near-term interest rate hike. German industrial orders slumped 3.9% in January, reversing nearly all […] More

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