Central Bank Watch
Bank of Canada Retains 0.5% Interest Rate Target and Lowers Projected Growth and CPI Path
October 19, 2016
The statement released by monetary officials projects GDP growth of 1.1% in 2016, down from a prior projection of 1.3%. Growth in 2017 and 2018 have been reduced to 2.0% from 2.2% and 2.1%, respectively. The change reflects slower near-term housing resale activity and a lower export trajectory. Growth is now surpassing potential, but spare […] More
Central Bank Watch
Central Bank of Chile
October 19, 2016
Chile’s monetary policy rate was left unchanged at 3.5%, its level since hikes of 25 basis points implemented in September and December of 2015. A released statement observes that inflation has recently fallen faster than anticipated and that interest rates elsewhere are low. Growth was sluggish last quarter in Chilean output and demand, and the […] More
New Overnight Developments Abroad - Daily Update
Oil Price Rally Continued
October 19, 2016
West Texas Intermediate crude oil, which traded at $43.30 per barrel just a month ago, rose another 1.5% overnight to $51.02 per barrel. Investors are reasonably confident that OPEC will find the discipline with Russia to reach an accord limiting production. Comex gold advanced 0.7% to $1,271.50 per troy ounce, and the dollar is modestly […] More
