Central Bank Watch
Central Bank of Brazil Cuts Selic Rate Again
December 11, 2019
For the fourth time since the end of July, Brazil’s monetary policy committee, Copom, authorized a 50-basis point cut of the Selic interest rate, which now becomes 4.5%. The action, like the earlier easings was justified but the expected “convergence of inflation to its target over the relevant horizon for the conduct of monetary policy, […] More
Deeper Analysis
Comment on FOMC Statement, Forecasts, and Powell Press Conference
December 11, 2019
The Federal Open Market Committee left the federal funds target unchanged at 1.25-1.50% and reached that decision unanimously. A policy change was not expected, and there was nothing meaningfully new presented in the formal statement released today. Likewise, the updated forecasts included nothing remarkable. Projected GDP growth of 2.0% next year, 1.9% in 2021 and […] More
Central Bank Watch
FOMC Preview
December 11, 2019
The FOMC will reveal its decisions later today from its final scheduled review of U.S. monetary policy in 2019. Financial markets in advance have been marking time ahead of the revelations of any policy action today, when interest rates are likely to be moved next and in what direction, and what factors are currently attracting […] More
New Overnight Developments Abroad - Daily Update
Waiting and Seeing on Multiple Levels
December 11, 2019
The FOMC will reveal its decisions later today from its final scheduled review of U.S. monetary policy in 2019. Financial markets in advance have been marking time ahead of the revelations of any policy action today, when interest rates are likely to be moved next and in what direction, and what factors are currently attracting […] More
