Deeper Analysis
Bank of Japan Corporate Survey Results Better Than Imagined Three Months Ago
December 14, 2010
11,183 companies participated in the latest quarterly survey by Japan’s central bank. In the table below which documents the evolution of results, abbreviations used in the first four columns of data stand for big manufacturers (Bm), big non-manufacturer (Bnm), small manufacturers (Sm) and small non-manufacturers (Smn). Where no “a” or “f” suffix is shown after […] More
Central Bank Watch
FOMC Text Almost Identical to Statement of November 3rd
December 14, 2010
The FOMC, as one might imagine, was in no mood to rock the boat and felt no compelling reason to introduce significantly new material. No modification was made in the parameters of QE2 or the zero to 0.25% federal funds target range. Officials also reiterated the long-standing prediction that the federal funds target will probably […] More
Central Bank Watch
FOMC Day
December 14, 2010
By a vote of 10-1, the FOMC at its November 3 meeting decided to buy $600 billion of longer-term Treasury securities, averaging $75 billion per month from November through June 2011. Even then, undertaking a second round of quantitative easing, dubbed QE2, was a controversial decision. Minutes from the November meeting and confusingly mixed rhetoric […] More
New Overnight Developments Abroad - Daily Update
Dollar Down Ahead of FOMC Statement
December 14, 2010
The dollar overnight lost 0.8% against the Swiss franc, 0.7% versus the Australian dollar, 0.6% against the yen and euro, 0.3% relative to the Canadian and New Zealand dollars and 0.1% vis-a-vis the yuan and sterling. The last scheduled statement of 2010 from the Federal Open Market Committee will be released around 19:15 GMT today. […] More
