Central Bank Watch
Bank of England Lifts Interest Rate as Expected
November 2, 2017
The Bank Rate was doubled to 0.50% because of a “steady erosion of slack” that “has reduced the degree to which it is appropriate for the MPC to accommodate an extended period of inflation above the target.” At 0.50%, the rate is back to the level prevailing from March 2009 until being halved in August […] More
Central Bank Watch
Czech National Bank Raises Interest Rates
November 2, 2017
The Czech National Bank’s first interest rate change was enacted in early August when the 2-week repo rate and Lombard rate were increased 20 basis points and 25 bps to 0.25% and 0.50%, respectively. A second round of rate hikes was enacted today. The 2-week repo rate is being doubled to 0.5%, and the Lombard […] More
Deeper Analysis
Similar October Manufacturing PMI Indices in U.S. and Euroland
November 2, 2017
It was reported today by IHS Markit that Euroland’s manufacturing purchasing managers index rose 0.4 points to an 80-month high of 58.5. Being above 50 since July 2013 means that conditions in manufacturing have been improving since then, and the higher level in October means that the rate of improvement quickened last month. This faster […] More
New Overnight Developments Abroad - Daily Update
Markets Assuming Powell Getting Named Fed Chair
November 2, 2017
President Trump will formally announce his choice of Federal Reserve chairperson today at 15:00 EDT. The worst kept secret is that Jerome Powell will likely get the nod. Although a lawyer by training, his career has been immersed in financial markets. Other top news: Euroland’s October purchasing managers index rose 0.4 points to an 80-month […] More
