Archive for March 11th, 2015

Central Bank Watch

Reserve Bank of New Zealand Leaves Key 3.5% Interest Rate Unchanged

March 11, 2015

Monetary officials continue to encourage a shift in market expectations about its future policymaking.  As recently as two meetings ago in December, officials retained the view that excess capacity would be diminishing and that more rate hikes would be required.  The Official Cash Rate had been at 2.5% for three years following a 50-basis point […] More

Central Bank Watch

Central Bank of Thailand Officials Cut Key Interest Rate for First Time since March 2014

March 11, 2015

The decision to cut the interest rate to 1.75% from 2.0% was finely balanced.  The Monetary Policy Committee’s released statement devoted a lengthy paragraph to explaining the different views of the four-member majority and three-member minority. In the policy deliberation, the committee judged that the outlook of the Thai economic recovery is weaker than previously […] More

New Overnight Developments Abroad - Daily Update

More Euro Weakness as Draghi Hails Initial Success of Quantitative Easing

March 11, 2015

The euro fell another 1.1% against the dollar overnight, touching a low of $1.0560 and bringing the cumulative year-to-date depreciation to 12.5%.  It’s become even more apparent that the real intent of quantitative easing is to substantially depreciate the external value of currency.  The Bank of Japan did that in 2013, and now it is […] More

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