Archive for December 22nd, 2016

Deeper Analysis

U.S. GDP

December 22, 2016

Real economic growth in 3Q16 was revised up 0.3 percentage point to 3.5% annualized from the second quarter. However, the on-year pace of 1.7% was down from 2.2% in the year to 3Q15 and 2.9% in the year to 3Q14. Personal consumption remains a mainstay of the economy, posting successive on-year advances of 3.2% in […] More

Central Bank Watch

Czech National Bank

December 22, 2016

Since November 2012, the Czech two-week repo rate has been a mere 0.05%. A year after dropping to that level, an additional asymmetric foreign exchange rate policy was added to the monetary policy toolkit, stipulating that inflation would be used to prevent the koruna from strengthening beyond the 27 per euro level but not to […] More

Central Bank Watch

Bangko Sentral ng Pilipinas

December 22, 2016

The Filipino reverse repo rate, which has been at 3.0% since a 25-basis point hike in September 2014, was left unchanged at the latest Board meeting. So were its other interest rates and reserve requirement ratio. A released statement asserts the appropriateness of the current ┬ámonetary stance. Inflation is currently under the 2-4% target but […] More

Central Bank Watch

Central Bank of the Republic of China (Taiwan)

December 22, 2016

It was decided unanimously to leave Taiwan’s central bank interest rate at 1.375% after the latest quarterly policy review. Four consecutive reductions of 12.5 basis points had been implemented in September and December of 2015 and March and June of this year. A statement released after the meeting justified the stance as follows: Against a […] More

New Overnight Developments Abroad - Daily Update

Softer Dollar but Firmer Oil Price

December 22, 2016

On this last full session before the Christmas break, the dollar fell 0.5% against the euro and 0.4% relative to the Swiss franc. Dollar/yen is steady and the dollar has strengthened against sterling, the Aussie and Canadian dollars, and Mexican peso. West Texas Intermediate crude oil advanced 1.1% to $53.07 per barrel following news of […] More

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