Central Bank Watch
Reserve Bank of India: No Change in Interest Rates or Bank Reserve Requirements
April 7, 2015
The framework of monetary policy changed in January, with the establishment then of an inflation reduction target to be followed by an inflation containment target once 4% is attained around March 2018. The targets were endorsed by the government as well as the central bank. In conjunction with the shift in January, policy was allowed […] More
Central Bank Watch
Reserve Bank of Australia: No Rate Cut Now But Not Ruling Out Future Reduction
April 7, 2015
Australia’s Official Cash Rate of 2.25% since a 25-basis point reduction in February constitutes a record low. As in March, RBA Board members found the current stance “appropriate” for now. February’s cut was the first since ones of similar size in May and August 2013. Cuts totaling 175 bps were also implemented earlier in November […] More
Deeper Analysis
Dramatic Convergence of U.S. and Eurozone Activity Extended in March
April 7, 2015
The purchasing manager survey differentials for both services and manufacturing between the United States and eurozone have converged in each of the past five months, causing the sum of the two spreads, shown in the right-most column below to plunge from +15.2 points last November to only +1.6 points in March. This monthly feature on […] More
New Overnight Developments Abroad - Daily Update
Post-Easter Session Sees Equities and Aussie Dollar Rise
April 7, 2015
Following the advance in the Dow on Monday, the return of markets that had been closed for Easter saw share prices advance 2.2% in China, 1.3% in Japan, 0.8% in Hong Kong and Indonesia, 0.5% in Australia and 0.4% in Singapore, Taiwan and New Zealand. European stocks have thus far advanced by 1.5% in Great […] More
