Archive for March 21st, 2019

Central Bank Watch

Bank of England’s Policy Settings Unchanged

March 21, 2019

The Bank of England as expected did not change its 0.75% Bank Rate, which earlier had been raised twice by 25 basis points, initially in November 2017 and then in August 2018 to 0.75%, highest since March 2009. Nor were quantitative policy tools modified, and both decisions were made unanimously as expected. In a released […] More

Central Bank Watch

Swiss National Bank Keeps Policy the Same but Lowers Projected CPI Inflation Path

March 21, 2019

At the latest quarterly review of Swiss monetary policy, SNB officials kept policy unchanged. Since January 2015, when the automatic cap on Swiss franc was lifted and the interest rate target was cut by 50 basis points, the 3-month Libor rate target band has been an all-negative range of minus 1.25% to minus 0.25%, the […] More

Central Bank Watch

Bank of Norway Tightens

March 21, 2019

The Bank of Norway’s policy interest rate was lifted 25 basis points to 1.0%. Norway is an oil producer and exporter and benefits from the firmer trend lately in that commodity. Growth has been solid, according to a released statement.  Capacity usage is running a bit above normal, and core CPI inflation is somewhat higher […] More

New Overnight Developments Abroad - Daily Update

Theme of the Day: Slowing Global Growth

March 21, 2019

Since the Federal Reserve’s policy decision and press conference yesterday, there’s been a parade of other central bank policy meetings. Although only Norway changed its policy rate — a hike no less — the running theme in the many central bank statements is that the slowdown in global demand late last year is continuing and […] More

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