Archive for July 20th, 2011

Central Bank Watch

Brazilian Central Bank Interest Rate Hike

July 20, 2011

The Bank of Brazil’s monetary policy committee, COPOM, sanctioned a fourth consecutive and seventh overall Selic rate hike, the size of which was an as-expected 25 basis points to 12.50%.  The cumulative increase in this gradual and prolonged cycle of increases stands at 375 basis points.  The first two tightenings in June and July of […] More

Deeper Analysis

Canadian Monetary Policy Report

July 20, 2011

The 38-page quarterly Monetary Policy Report retains a mid-2012 target date for the restoration of full capacity in Canada, presents only marginally modified price and growth projections, declares medium-term price expectations to be firmly anchored around the Bank of Canada’s 2.0% target, and argues that it would be appropriate for the central bank interest rate […] More

New Overnight Developments Abroad - Daily Update

Wishful Hopes Regarding U.S. and Ezone Debt Talks

July 20, 2011

Tuesday’s improved market tone has been extended.  Investors are hopeful that a senate plan will avert a last minute showdown over the U.S. debt ceiling and are looking for a huge effort to emerge from Thursday’s EU summit to stop debt crisis contagion there. Symptomatic of less risk aversion, Ten-year sovereign debt yields firmed seven […] More