Central Bank Watch
FOMC Statement Embodies Some Changes… Cautious and Accommodative Stance Retained
September 23, 2009
No change was made in the 0-25% target for the fed funds rate or the prediction of “exceptionally low levels for an extended period of time.” No changes were announced in the size of the quantitative easing programs. The plan to buy $300 billion of Treasury securities, as previously announced, will be completed by end-October […] More
Central Bank Watch
Norges Bank Announcement Lifts Krone
September 23, 2009
Norway’s central bank left its deposit rate point target at 1.25% within a 0.75 – 1.75% range as expected. This was the same result as the previous meeting on August 12, representing a bottom after seven rate reductions totaling 450 basis points from 5.75% prior to mid-October 2008 and 1.25% after a 25-bp cut this […] More
Central Bank Watch
Vital U.S. Market Readings on Previous Fed Policy Announcement Days
September 23, 2009
EUR/$ $/JPY 10Y, % DJIA Oil, $ 06/30/04 1.2173 109.44 4.63 10396 37.95 06/30/05 1.2090 110.89 3.96 10370 57.00 06/29/06 1.2527 116.07 5.20 11077 73.41 06/28/07 1.3452 123.17 5.10 13456 69.82 08/07/07 1.3749 118.55 4.73 13510 72.27 09/18/07 1.3888 115.75 4.51 13475 81.42 10/31/07 1.4458 115.28 4.42 13873 93.59 12/11/07 1.4682 111.49 4.11 13645 […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: Dollar Mostly Marking Time Ahead of Fed Decision
September 23, 2009
The FOMC will release its statement around 18:15 GMT. The pledge to keep a very accommodative policy for some time longer is not likely to be modified, but the statement probably will paint a somewhat better picture of economic conditions. Meanwhile, the dollar is unchanged against the Swiss franc, up 0.1% relative to the yen […] More
