Central Bank Watch

Bank of Thailand

November 8, 2017

Following a two percentage point decline between November 2011 and April 2015, Thailand’s policy interest rate has been at 1.5%. The latest review ended with a unanimous decision to keep that level, which is defended in a statement as follows: “The Committee viewed that the current accommodative monetary policy stance remained conducive to the continuation […] More

New Overnight Developments Abroad - Daily Update

Dollar, Stocks and Bond Yields Mostly Lower

November 8, 2017

The dollar declined overnight by 0.5% against the yen, Aussie dollar and kiwi, 0.4% relative to the peso and loonie, 0.2% versus the yuan and 0.1% relative to the Swiss franc. The dollar’s unchanged against the euro and 0.4% stronger against sterling, which continues to be depressed by the fractious state of British politics and […] More

Central Bank Watch

National Bank of Romania

November 7, 2017

Romania’s monetary policy rate stays at 1.75%, but the overnight lending and deposit rate corridor was narrowed further with a 25-basis point cut of the former to 2.75% and a hike of the latter to 0.75% from 0.50%. A statement was released after the latest review that observes solid economic growth, a recent pickup of […] More

Central Bank Watch

Central Bank of Sri Lanka

November 7, 2017

The Monetary Policy Committee kept its deposit rate unchanged at 7.25% and its lending facility rate at 8.75%. The late increases in these rate were a pair of 50-basis point moves in February and July of 2016, and the levels are now the highest in a bit over four years. The post-meeting statement revises projected […] More

Central Bank Watch

Reserve Bank of Australia

November 7, 2017

Australia’s Official Cash Rate has been at a record low 1.5% since August 2016 when such was cut by 25 basis points. Even though the economy has not had a recession for over 20 years, price and wage inflation are currently low. The on-year rise in consumer prices, both total and core, continues to be […] More

New Overnight Developments Abroad - Daily Update

Korea, Saudi Arabia, Central Bank Meetings, and More Data

November 7, 2017

Market Action: The dollar rose overnight by 0.5% against the Australian dollar, 0.4% versus the loonie, peso and euro, 0.3% relative to the yen and sterling, 0.2% against the Swiss franc and 0.1% against the yuan. EUR/USD is at a 4-month low. Stocks climbed 1.7% in Japan on Tuesday, 1.5% in Hong Kong, 1.0% in […] More

Deeper Analysis

Non-Manufacturing PMIs in the U.S. and Euroland

November 6, 2017

The U.S. non-manufacturing purchasing managers index compiled by the Institute of Supply Management edged up 0.3 points to 60.1 in October. Faster growth in sales and jobs outweighed slower growth in new business and prices. Euroland’s services PMI for October fell 0.8 points to 55.0. The German, Italian, Spanish and Irish readings each droppedĀ more than […] More

New Overnight Developments Abroad - Daily Update

Trump Comments, More PMI Surveys, and Some Central Bank Signals

November 6, 2017

President Trump in Japan returned to his call for “fair” bilateral trade relationships. To reduce Japan’s surplus with America, he’d like to see more Japanese buying of U.S. military equipment. Euroland’s service sector and composite purchasing managers indices slipped to a 2-month low of 55.0 and 56.0, respectively. Each result was revised up a tenth […] More

Foreign Exchange Insights and Next Week

Next Week

November 5, 2017

Central Bank Beat: Monetary policy reviews scheduled in Australia, New Zealand, Poland, Serbia, Romania, The Philippines, Malaysia, Thailand, Sri Lanka, Peru and Mexico. The Reserve Bank of Australia’s quarterly Monetary Policy Statement will be published, and the Bank of Japan’s releases minutes from its September meeting and a summary of its October meeting. Chiefs of […] More

New Overnight Developments Abroad - Daily Update

A Noteworthy Week to End with the Release of U.S. Monthly Labor Market Data and the Start of Trump’s 11-Day Trip to Asia

November 3, 2017

Over the past week, Republican lawmakers pressed hard in their quest to pass a major tax cut by Christmas. Jerome Powell, viewed widely as a continuity choice, was nominated to be the next Federal Reserve Chairman. The Bank of England raised its interest rate for the first time since July 2007. The latest British purchasing […] More

css.php