Central Bank Watch
Bank of Japan Preview: No Further Changes Likely
March 12, 2012
Japanese quantitative monetary policy stimulus was extended after the previous BOJ Board meeting on February 13-14. Ten trillion yen was added to a JPY 20 trillion pool of funds for asset purchases. Incremental buying will entirely involve Japanese government bonds (JGBs), and such is supposed to be completed by the end of 2012. In addition, […] More
Deeper Analysis
Projected 2012 and 2013 Economic Growth is Guardedly Optimistic
March 12, 2012
As happens each March, this month’s Economist survey of analyst growth and inflation forecasts extends the forecasting horizon by a another calendar year, this time to 2013. Uncertainty is very elevated for these long-range estimates, since nearly ten months remain before 2013 even begins and the end of the period is some 22 months away. […] More
Central Bank Watch
Vietnamese Central Bank Rate Cut
March 12, 2012
The State Bank of Vietnam reduced its refinancing rate by 100 basis points to 14% from 15%, which had been the level for the past five months. This was the first decrease since a 100-bp reduction in April 2009 that culminated an easing cycle from 15% prior to mid-October 2008. Today’s easing had been strongly […] More
New Overnight Developments Abroad - Daily Update
Focus Shifts to China
March 12, 2012
Now that aid to Greece from the EU/ECB/IMF seems assured, attention has fixed on the extent of a slowdown in China. China’s government reduced its growth forecast to 7.5%. The projection for several years had been 8%, but actual GDP growth perennially surpassed that yardstick. Data last week showed lower-than-expected Chinese CPI and PPI inflation. […] More
