Central Bank Watch
Bank of Canada Kept at 0..25% Effective Floor and Substantial Quantitative Stimulus to Continue
July 15, 2020
Canada’s overnight central bank rate target was sliced three times by 50 basis points each time during March. At 0.25%, such is now at a level that officials believe to be at an effective lower boundary. In addition, monetary officials have implemented a range of liquidity facilities and asset purchase programs to ease market dysfunctionality […] More
Central Bank Watch
Bank of Japan Policy Settings Unchanged… New Forecasts Released
July 15, 2020
The metrics of the Bank of Japan’s quantitative and qualitative easing with yield curve control were not changed at the latest monetary policy review. Since September 2016, the short-term policy rate target has been -0.1%, and the target for the 10-year JGB yield has been around zero percent. The BOJ continues to inject liquidity on […] More
New Overnight Developments Abroad - Daily Update
Two Competing Covid Narratives
July 15, 2020
As is the case on so many matters, faith and reason are clashing in how psychology is being affected by the coronavirus news. This week at least, faith — in this case optimism generated by favorable reports regarding a British vaccine in testing — is overriding the reality of accelerating trends in the virus’ spread […] More
