Archive for September 7th, 2016

Central Bank Watch

No Change in Bank of Canada Interest Rate

September 7, 2016

Canada’s economy last quarter suffered a setback that monetary officials didn’t anticipate. In fact, real GDP contracted 1.6% at a seasonally adjusted annualized rate compared to 1Q. Exports were weaker than anticipated and remain a concern. But officials expect a bounceback in the second half of 2016. A released statement assumes a recovery in oil […] More

Central Bank Watch

National Bank of Poland

September 7, 2016

Officials at Narodowy Bank as expected retained a 1.5% policy interest rate. ¬†That’s been the level since a 50-basis point cut in March 2015. Previously, the rate in nine steps was cut from 4.75% starting in November 2012 to 2.0% in January 2014. A released statement stresses subdued inflation. “Deflation will be gradually subsiding due […] More

Central Bank Watch

Bangko Negara Malaysia

September 7, 2016

The latest statement from Malaysia’s Monetary Policy Committee anticipates continuing domestic demand-led economic growth with weak exports as well as stable in-target inflation next year in an “environment of low global energy and commodity prices, and generally subdued global inflation.” Officials had cut the overnight policy interest rate by 25 basis points on July 13, […] More

Central Bank Watch

Swedish Riksbank Makes No Further Policy Changes

September 7, 2016

Sweden’s repo rate stays at negative 0.5%, having been cut from zero by 10 basis points initially in February 2015, 15 bps in March 2015, 10 bps in July¬†2015 and, most recently, 15 bps earlier this year in February. A program of asset purchases that had been last expanded by SEK 45 billion to SEK […] More

New Overnight Developments Abroad - Daily Update

A Focus on Central Banks

September 7, 2016

Money markets are discounting only a one in four likelihood that the fed funds rate gets hiked on September 21 despite hawkish remarks overnight from San Francisco Fed President John Williams, who voiced confidence in current U.S. economic conditions and opined that moving sooner is better than doing so later. The Fed’s Beige Book of […] More

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