Central Bank Watch
Dovish FOMC Statement But No Fresh Policy Initiatives
September 21, 2010
A new goal-oriented theme was introduced into the language of today’s FOMC Statement, and it is expressed twice to underscore that the shift was not a mere after-thought. The change concerns inflation, specifically that such is presently too low and that policymakers will not tolerate this condition persisting. Paragraph #2 in the June statement had […] More
Central Bank Watch
Key Market Prices on Previous FOMC Days
September 21, 2010
During the six weeks since the August 10th FOMC meeting, most U.S. economic data ran initially on the weak side of expectations, but the past couple of weeks have seen more upside data surprises such as today’s report on August housing starts. Officials at the previous meeting decided not to let maturing holdings of agency […] More
Deeper Analysis
Subdued Canadian Inflation
September 21, 2010
Canadian CPI inflation slid a tenth to 1.7% last month and has been lower than the 2.0% target since December 2008. Between August 2009 and August 2010, energy prices advanced 5.0% and all other consumer prices went up 1.4%. Core inflation stood at 1.6% in August, same as in July, but the core index only […] More
New Overnight Developments Abroad - Daily Update
Investors Will Be Surprised If FOMC Renews QE Today
September 21, 2010
The FOMC meets today and will release a new statement around 18:15 GMT. Commodity-sensitive currencies, the dollar and global bond yields are softer in advance. The dollar lost 0.5% against the euro, 0.3% against the yen, 0.2% against the Swiss franc, and 0.1% against the yuan. The greenback firmed 0.2% against sterling, however, aided by […] More
