Archive for October 4th, 2017

Central Bank Watch

Reserve Bank of India

October 4, 2017

The Indian repo rate was left at 6.0% by a 5-1 vote, with one dissenter favoring a cut of 25 basis points. At the previous meeting in early August, the rate had been sliced by 25 basis points. The rate previously was reduced by 50 basis points in two moves during 2016 and by a […] More

Central Bank Watch

Bank of Iceland

October 4, 2017

Monetary officials in Iceland implemented a 25-basis point cut of the 7-day term deposit rate after today’s policy review. This reduction to 4.25% follows similar cuts in May and June. While officials consider a generally tight stance appropriate, today’s released statement observes that “developments in inflation and inflation expectations and diminishing demand pressures indicate that […] More

Central Bank Watch

Bank of Poland

October 4, 2017

Poland’s central bank reference interest rate has been at 1.5% since a series of reductions ended with a pair of 50-basis point cuts in January and March 2015. The benchmark had been at 4.75% prior to November 2012. Poland’s Monetary Policy Council released a statement after this week’s policy review that noted continuing low core […] More

Deeper Analysis

Faster Non-Manufacturing Growth in the U.S. and Euroland

October 4, 2017

The Institute of Supply Management reported a big 4.5-point jump during September in the U.S. non-manufacturing purchasing managers index. At 59.8, such signaled the quickest expansion of activity since August 2005. Sub-components for new business, prices, and production increased by 8.4, 5.9 and 3.8 points, respectively. IHS Markit Economics calculated a 1.1-point increase in Euroland’s […] More

New Overnight Developments Abroad - Daily Update

Somewhat Softer Dollar

October 4, 2017

The dollar overnight lost 0.6% against the peso, 0.5% relative to the Aussie dollar and yen, 0.4% versus the the kiwi, 0.3% against the the euro and loonie and 0.2% against the Swiss franc and sterling. President Trump, who travels to Las Vegas, is said to be closer to making a decision on his appointment […] More

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