Foreign Exchange Insights and Next Week
Next Week
April 26, 2013
Monetary policy meetings with press conferences at the Federal Reserve and European Central Bank headline next week’s central bank watch. The ECB is widely expected to cut interest rates. Other central bank policy meetings will be held in India, the Czech Republic and Romania. Bank of Japan minutes will be published. Several holidays will interrupt […] More
Central Bank Watch
Mexico and Colombia: Central Bank Rates Left Unchanged
April 26, 2013
It’s not just the wealthier nations that are experiencing slower growth. Mexico and Colombia are two Latin American economies that are growing below potential. Bank of Mexico officials had implemented a 50-basis point cut of its key interest rate in July. That was the first reduction since July 2009. There was not a follow-up move […] More
Central Bank Watch
Bank of Japan Review
April 26, 2013
The nine-person Policy Board released a two-sentence statement affirming by unanimous vote to “conduct money market operations so that the monetary base will increase at an annual pace of about 60-70 trillion yen.” The decision implicitly pins the overnight money rate to a range of zero to 0.1%. This was the second meeting of the […] More
New Overnight Developments Abroad - Daily Update
Yen Strengthens after BOJ Meeting… European Stocks Lower
April 26, 2013
After a Policy Board meeting lasting four hours and 28 minutes, the Bank of Japan left its interest rate target at zero to 0.1% and did not initiate any new quantitative easing initiatives beyond those unveiled at the prior meeting. The monetary base will be increased by 60-70 trillion per year, and policy easing will […] More
