Central Bank Watch
Czech Monetary Policy Left Unchanged but Two Scenarios Worked Up
May 3, 2012
The Czech National Bank’s two-week repo rate remained at 0.75%, its level since a 25-basis point cut in May 2010 culminated 300 basis points of easing begun in August 2008. Policy members were all over the map in a 4-2-1 verdict that included two votes for a 0.50% rate level and one vote for a […] More
Central Bank Watch
ECB Press Conference Highlights and Analysis
May 3, 2012
The ECB did not change its key interest rates nor make any concrete announcements regarding non-standard measures to fortify market functionality and the transmission of ECB policy to the real economy. There was no consideration of a rate reduction at the present time or any other form of stimulus. The SMP facility remains a possible […] More
New Overnight Developments Abroad - Daily Update
Focus on Draghi’s Press Conference
May 3, 2012
The ECB Governing Council’s statement at 11:45 GMT is expected by analysts to leave policies unchanged, but an element of suspense surrounds the tone President Draghi adopts at the subsequent press conference set for 12:30 GMT. His recent message has been that the central bank has done all it can, and the ball is now […] More
