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
