Central Bank Watch
Reserve Bank of New Zealand Policy Pause Continues
December 5, 2012
New Zealand’s Official Cash Rate has been at 2.5% since March 2011. In leaving that reference rate unchanged after today’s last policy meeting of 2012, officials at the RBNZ released a statement that Concluded that the current stance remains appropriate. Identified both upside and downside price risks that it is monitoring around a baseline forecast […] More
Central Bank Watch
National Bank of Poland Implements Second Straight Rate Cut and Signals Possibly More Ease to Come
December 5, 2012
The decrease in the interest rates should support economic activity and thus reduces the risk of inflation falling below the target in the medium term. Should the incoming information confirm a protracted economic slowdown, and should the risk of increase in inflationary pressure remain limited, the Council will further ease monetary policy. Poland’s Monetary Council […] More
Deeper Analysis
Higher Service-Sector PMI Readings in the United States and Euroland Plus Comments on Other U.S. Statistics Released Today
December 5, 2012
The service-sector purchasing manager indices rose in November by 0.5 points in the United States and 0.7 points in the euro area. The spread between those readings narrowed marginally to +8.0 points as a result. Notably, U.S. services at 54.7 and comfortably above the 50 no-change level connotes non-stalling expansion, whereas Euroland’s 46.7 points to […] More
New Overnight Developments Abroad - Daily Update
Busy Data Day
December 5, 2012
The dollar is narrowly mixed, with gains of 0.3% against the Swiss franc and yen and 0.2% versus the euro, no change relative to the Australian dollar, and slight losses of 0.2% against the kiwi and 0.1% versus the loonie, yuan and sterling. Hopes that the new Chinese government plans an urban infrastructure stimulus goosed […] More
