Archive for July 15th, 2015

Central Bank Watch

Bank of Canada Monetary Policy Stance Eased for Second Time This Year

July 15, 2015

A famous Monty Python skit produced the line, “Nobody expects the Spanish inquisition,” and the idea applies equally well to the forecasts of public authorities particularly central banks when it comes to forewarnings about coming recessions.  In cutting the overnight money target by 25 basis points to 0.50% today, Bank of Canada officials published an […] More

Central Bank Watch

Bank of Japan Left Policy Settings Unchanged But Cut Growth and Inflation Forecasts

July 15, 2015

There’s been another 8-1 Board decision to continue the open-ended quantitative and qualitative monetary stimulus, buying JPY 80 trillion of long-dated JGBs per year until 2.0% core inflation is secured and deemed maintainable.  The decision was as expected.  Policy stimulus is not expected to be augmented before October, if then.  That will be the occasion […] More

New Overnight Developments Abroad - Daily Update

Dollar Stronger on this Day of Important Developments

July 15, 2015

The dollar hit a high of $1.0954 per euro, strongest since July 7 and 4.4% above its June 18 low.  The euro has also weakened against sterling is is barely remaining above 0.7000 per pound. Compared to Tuesday closing levels, the dollar has risen 0.7% against the Swiss franc, 0.5% versus the kiwi, 0.4% vis-a-vis […] More

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