Archive for June 8th, 2016

Central Bank Watch

Central Bank of Brazil Leaves Policy as Is

June 8, 2016

Copom, the Brazilian monetary policy committee, kept its 14.25% Selic rate unchanged as expected.  Brazil remains deeply in recession, but inflation is twice as much as the 4.5% target and is thus the top concern.  Between October 2014 and July 2015, the Selic Rate was raised from 11% to 14.25% as the plunging real lifted […] More

Central Bank Watch

Key Polish Central Bank Rate Left at 1.5%

June 8, 2016

The National Bank of Poland’s reference rate has been at 1.5% since cuts of 50 basis points each in January and March of 2015.  Previously, 225 basis points of easing were administered between November 2012 and July 2013.  A statement released after the latest meeting of the Monetary Policy Council observes that “with a negative […] More

Central Bank Watch

Chinese Data and a Slew of Japanese Statistical Releases

June 8, 2016

Commodities, commodity-sensitive currencies like the kiwi and rand and other emerging market currencies like the won experienced another strong session.  West Texas Intermediate crude oil is trading marginally above $51 per barrel versus a February low of $26.05.  Gold advanced 0.9% to $1,258.7 per ounce, and copper jumped over 2%. Eurozone sovereign debt yields are under […] More

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