Central Bank Watch
50-Basis Point Brazilian Central Bank Rate Hike in Line with Forecasts
January 19, 2011
The monetary policy committee, COPOM, has implemented a fourth hike in its key Selic rate, which now becomes 11.25%. From a low of 8.75%, three increases of 75 basis points, 75 bps and 50 bps were done in April, June and July of last year, but policy had been paused for a half-year before today’s […] More
Deeper Analysis
Bank of Canada Monetary Policy Report Highlights
January 19, 2011
The quarterly Bank of Canada Policy Report is loaded with useful information about how central bankers in this and other countries may view conditions and prospects in the Canadian and global economies. Compared to October when the previous Policy Report was compiled, Canadian growth and inflation prospects hardly changed. Projected real GDP growth in 2011 […] More
Central Bank Watch
Poland’s First Central Bank Rate Hike Announced
January 19, 2011
The Monetary Policy Committee of the Narodowy Bank lifted its key reference rate by 25 basis points to 3.75%, effective tomorrow. Roughly two-thirds of analysts anticipated this initial tightening following hawkish remarks by Governor Belka earlier this month that hinted at a need for pre-emptive gradual tightening to contain inflation. The previous last rate hike, […] More
New Overnight Developments Abroad - Daily Update
Across-the-Board Softness in the Dollar
January 19, 2011
The dollar fell overnight by 0.5% against the euro, Swiss franc, kiwi, Australian dollar and yen and is 0.2% lower relative to the Canadian dollar and sterling. The Chinese yuan moved less than 0.1% against the dollar; however, it was fixed by Beijing officials at its strongest value since flexibility was first introduced in July […] More
