Central Bank Watch
Swiss National Bank Revises Inflation Forecast Marginally Lower
March 15, 2012
The Swiss National Bank, which reviews policy in the final month of each calendar quarter, retained all of its goals. It is keeping a zero-to-0.25% target range for 3-month Libor. Such has lately hovered just below 0.10%. This range was first set in August 2011, replacing a range zero to 0.75% with a point target […] More
Central Bank Watch
Reserve Bank of India Holds Mid-Quarter Policy Review
March 15, 2012
Officials at the Reserve Bank of India pre-empted previous expectations that its mid-quarter review would produce a half-percentage point cut of reserve requirements by announcing an even larger reduction of 75 bps on March 10. By getting ahead of the curve of expectations, the authorities further underscored a shifting policy bias from restraint to contain […] More
Central Bank Watch
A Norwegian Rate Cut
March 15, 2012
The central bank Executive Board’s policy interest rate was reduced 25 basis points on Wednesday to 1.5%, putting such just 25 basis points above the cyclical low from June to October 2009 and 75 bps below the level from May to December of last year. A statement on the Norges Bank said this third cut […] More
New Overnight Developments Abroad - Daily Update
Further Rise in Treasury Yields
March 15, 2012
The 10-year Treasury yield has climbed to 2.30% from 2.27% at yesterday’s close and 1.99% a week ago. Money is stampeding out of fixed income securities, but equities also took a step backwards. Doubt is mounting that the Fed will refrain from raising interest rates until late 2014. Scheduled U.S. data today include the Philly […] More
