Central Bank Watch
Brazil Gets a Fourth Rate Cut
January 18, 2012
Copom, the policymaking committee of the Bank of Brazil, cut the Selic central bank interest rate by 50 basis points to 10.5%. This unanimously decided move follows similar half-percentage point reductions announced last August 31, October 19, and November 30. Slightly more than half of the 375 basis points of tightening from April 2010 through […] More
Deeper Analysis
Today’s U.S. Data
January 18, 2012
Treasury international capital (TIC) figures for November produced a more-than-fourfold increase in foreign net purchases of U.S. securities, 93% of which consisted of Treasury securities. The strength of this demand produced solid net capital inflows on all three definitions. The narrow long-term inflow jumped to $58.8 billion from $8.3 billion in October. The long-term flow […] More
Central Bank Watch
Canadian Monetary Policy Report – Highlights
January 18, 2012
The quarterly Monetary Policy Report (MPR) released today reiterates points made in yesterday’s announcement of an unchanged 1.0% overnight money rate target such as 1) projected GDP growth of 2.4% in 2011, 2.0% in 2012, and 2.8% next year; 2) assertions that the global economy has deteriorated and uncertainty has increased since the previous MPR […] More
New Overnight Developments Abroad - Daily Update
Crowded Calendar of U.S. Data Releases
January 18, 2012
The dollar declined overnight by 0.7% against the kiwi, 0.5% against the Swissie and euro, and 0.2% versus the Australian dollar, loonie, and sterling. The yen and yuan are unchanged against the greenback. Tomorrow begins a week-long celebration of the Chinese Lunar New Year to usher in the Year of the Dragon. Special importance is […] More
