Central Bank Watch
FOMC Statement: Same Policy Promise but More Optimistic Economic Appraisal
March 13, 2012
Greater optimism was expressed by the Federal Open Market Committee in today’s statement than in the prior one released on January 25. An allusion to slower global growth was deleted from the first sentence. The new statement explicitly observes that the U.S. unemployment rate has declined notably. January’s statement said business investment has slowed, but […] More
Central Bank Watch
FOMC Not Expected to Take New Policy Initiatives at This Time
March 13, 2012
The Federal Open Market Committee will reveal its latest decisions today at 14:15. Note that because the U.S. but not Europe is now on Daylight Savings Time, the time difference between those regions is one hour shorter than usual, that is a sum of four hours with London and five with Brussels and Frankfurt. No […] More
Central Bank Watch
Bank of Japan Leaves Main Policy Settings Unchanged but Enhances Growth-Supporting Funding Facility
March 13, 2012
The Bank of Japan 9-person Board met for seven hours and 54 minutes on Monday and Tuesday, voting unanimously to keep the overnight money rate target range at zero to 0.1% and rejecting by an 8-1 vote member Miyao’s proposed JPY 5 trillion increase in asset purchases from JPY 65 trillion to JPY 70 trillion. […] More
New Overnight Developments Abroad - Daily Update
Awaiting FOMC Statement
March 13, 2012
Stocks showed a better tone in the Pacific Rim and Europe today. Equities gained 1.3% in India and Taiwan, 1.2% in Australia, 1.1% in South Korea, 1.0% in Hong Kong and China, and 0.9% in Singapore. The Paris Cac, German Dax, and British Ftse so far have climbed by 1.0%, 0.9% and 0.8%. A laggard […] More
