Central Bank Watch
Bank of Japan Preview: Bigger Asset Purchase Plan Possible
January 23, 2012
The BOJ Policy Board is holding its first meeting of 2012, a 2-day deliberation that concludes Tuesday. The target for the overnight uncollateralized money rate will be reaffirmed unanimously at a range of zero to 0.1% since October 2010. This policy is sometimes called ZIRP and was popularlized in Japan in 1999-2000 and again 2001-6. […] More
Central Bank Watch
A Third and Somewhat Unexpected Rate Cut by the Bank of Israel
January 23, 2012
No central bank was quicker than Israel’s in raising interest rates after the Great Recession. Having slashed such from 4.25% to 0.5% during the downturn, the Bank of Israel began the process of normalization with a 25-bp increase in August 2009. Nine ensuing rate hikes lifted the benchmark to 3.25% by May of last year. […] More
Central Bank Watch
Bank of Mexico Monetary Policy Unchanged
January 23, 2012
Policymakers at Mexico’s central bank last Friday decided to keep its key interest rate at 4.5%, the level since a cut in July 2009 culminated 375 basis points of easing implemented that year. A statement from officials projects that inflation, though currently somewhat above the 3% target, will settled into that goal. Risks to growth […] More
New Overnight Developments Abroad - Daily Update
EU Finance Ministers Meeting Today
January 23, 2012
A slow start to the week, as many Asian markets were closed for the Lunar New Year holiday. Closed markets include Hong Kong, China, South Korea, Indonesia, Malaysia, The Philippines, Taiwan, Singapore and Vietnam. In contrast to today, Tuesday through Friday each have big event and data calendars this week. European finance ministers will be […] More
