Foreign Exchange Insights and Next Week
Next Week
December 14, 2012
Central banks hold monetary policy meetings next week in Japan, Sweden, Norway, the Czech Republic, Hungary, Turkey, and India. The Bank of Japan, Bank of England, and Reserve Bank of Australia will publish minutes of a previous meeting. The Bank of England’s quarterly Bulletin also arrives. Japanese voters elect members to the lower house of […] More
Foreign Exchange Insights and Next Week
Time May Have Come for Currency Wars to Heat Up
December 14, 2012
Finance Minister Montega of Brazil first coined the term “currency war” in September 2010, but the concept of competitive depreciation on a multilateral scale has not become a dominant currency market theme until now. 2013 could be different. Weak global growth is likely to persist, along with sub-target inflation. In a policy-constrained environment, the expeditious […] More
Central Bank Watch
Central Bank of Chile Policy Unchanged
December 14, 2012
The 4-person Policy Board at the Central Bank of Chile has retained a 5.0% policy rate for the eleventh straight time. When such was cut in January 2012 by 25 basis points to 5.0%, the conventional view among analysts was that 2012 would see about three more such reductions. Not one occurred even despite the […] More
New Overnight Developments Abroad - Daily Update
A Leap in Chinese Equity Prices
December 14, 2012
Friday has seen the release of the Bank of Japan’s Tankan survey and Preliminary PMI readings for China, Euroland, Germany and France. Polls in Japan point to a big win for the Liberal Democratic Party in Sunday’s election. There’s been no breakthrough in the U.S. fiscal cliff talks. Susan Rice withdrew from consideration for the […] More
