Bank of Norway

Norges Bank Tightened But Maybe for Last Time

September 19, 2019

Norway has the only central bank in the Group of Ten that’s still raising interest rates. A fourth 25-basis point policy rate hike was engineered today at the Bank of Norway, following earlier such increases in September 2018 and March and June of this year. That said, officials today strongly suggested that this string of […] More

Eight More Central Bank Meetings, a U.S. Current Account Report, and Downgraded Global Growth

September 19, 2019

Dollar movement overnight was mixed, with gains against the Australian dollar, kiwi, sterling, and yuan but losses relative to the yen, Swiss franc, euro, loonie and peso. The 10-year U.S. Treasury and Japanese JGB yields fell three basis points. Their German and British counterparts are respective a basis point higher and a basis point lower. […] More

Bank of Norway Tightens

June 20, 2019

The last of today’s bonanza of central bank policy announcement was the exception to the dovish predisposition of other monetary authorities. The Bank of Norway as expected raised its policy interest rate by 25 basis points to 1.25%. This was the third tightening move following 25-bp increases last September and March but leaves the rate […] More

Dollar Down on a Perfect Storm of Tensions Fraught with Uncertainty

June 20, 2019

The dollar lost 0.6-0.9% overnight against the euro, Swiss franc, loonie, yuan, kiwi, Australian dollar and Mexican peso. The greenback also has fallen 0.4% relative to the yen and 0.3% vis-a-vis sterling. The list of unknowns keeps lengthening. Iran shot down a U.S. surveillance drone, seemingly bringing another Middle East war closer. From Fed Chairman […] More

Share Prices Down as U.S. and China Exchange Mutually Destructive Tariff Threats

May 9, 2019

It’s crunch time in the U.S.-Sino trade negotiations, and investors are hedging against the worst. The dollar climbed 0.6% against the yuan overnight. The price of Comex gold firmed another 0.2%, while WTI oil slid 0.3% and under $62. The 10-year U.S. Treasury yield popped higher after a poorly received Treasury auction yesterday but then […] More

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

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

Anxious Times for Investors

January 24, 2019

Investors continue to face three big uncertainties: the U.S. government shutdown, the fast-approaching Brexit deadline, and the failure so far of U.S. and Chinese trade negotiators to reach a mutually satisfying agreement. Planned senate votes on the border wall and shutdown are not likely to pass. The on-again, off-again scheduled state of the union address […] More

Many Central Bank Meetings and a Stunning Deceleration of U.S. Import Price Inflation

December 13, 2018

The dollar shows no net overnight change against the Swiss franc, Chinese yuan, New Zealand dollar, or Canadian dollar. The greenback rose 0.8% versus the Mexican peso, 0.4% relative to the yen, and 0.1% versus the euro while dipping 0.1% vis-a-vis the Australian dollar and sterling. Asian equities rallied, but share prices in Europe and […] More

Focus Turns to Central Banks

October 25, 2018

The dollar this Thursday is narrowly mixed with upticks of 0.2% against the yen and Swiss franc and of 0.1% versus the loonie but downticks of 0.3% vis-a-vis the Aussie dollar and peso, 0.1% relative to sterling, the euro, and kiwi. The yuan is steady. Japan’s Nikkei plunged 822 points or 3.7%. Share prices also […] More

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