British consumer prices

Policies Driving Currency Markets as More Evidence Emerges of Slower Global Growth

February 13, 2019

Industrial Production in the euro area fell 0.9% in December, more than double the expected slide after a 1.7% drop recorded in November. This resulted in a 4.2% 12-month rate of decline, the biggest on-year contraction since November of 20o9. December output among the common currency bloc’s five largest economies fell from end-2017 levels by […] More

RBA Minutes Depress Australian Dollar in Otherwise Quiet Morning

June 17, 2014

The Australian dollar declined 0.4% against its U.S. counterpart.  Minutes from the central bank’s June 3 meeting contained a more sober view of economic growth prospects, satisfaction that inflation will stay in target, and the continuing assertion that Australia’s exchange rate is stronger than warranted. The U.S. currency otherwise is is uchanged against the euro, […] More

Busy Session as U.S. Returns from President’s Day Closure

February 18, 2014

The Bank of Japan left unchanged its basic monetary policy of quantitative easing overlaid on zero interest rates.  The central bank’s economic outlook wasn’t changed either in spite of yesterday’s softer-than-expected GDP figures.  Some special facilities were extended another year and given higher limits even though they haven’t been fully utilized in the past. The […] More

Sinking Confidence amid Disinflation

November 12, 2013

The dollar strengthened overnight by 0.7% against sterling, 0.5% versus the yen and kiwi, 0.4% relative to the Australian dollar, 0.2% against the loonie and 0.1% vis-a-vis the euro and Swiss franc.  The yuan remains unchanged. Pacific Rim equities varied widely.  Japan’s Nikkei jumped 2.2%, and stocks also gained 1.0% in china and 0.9% in […] More

Federal Reserve in the Spotlight

September 17, 2013

Even as the Federal Open Market Committee meets today for the first of a critical two-day policy meeting, a story has emerged that Janet Yellen, the present vice-chairperson, is now the front-running candidate to succeed Ben Bernanke as chair-person.  Bernanke’s second 4-year term ends in late January. In other central bank news, Minutes from the […] More

Central Bank Surprises in India and Australia

July 16, 2013

Published minutes from the Reserve Bank of Australia reflected a tilt away from additional monetary easing.  At the policy board meeting earlier this month, officials observed that past rate cuts were positively impacting housing and other aspects of the economy and believed that this support had not yet run its course.  Aussie dollar depreciation was […] More