Central Bank Watch
Central Reserve Bank of Peru Keeps 4.25% Reference Interest Rate
July 17, 2013
The last change in the key Peruvian central bank rate was a 25-basis point increase in May 2011 that culminated four percentage points of tightening in 2010-11. A statement from monetary officials predicts continuing in-target inflation and observes that Peruvian GDP has continued to expand close to its sustainable long-term trend in spite of global […] More
Central Bank Watch
Fed Chairman Succession Timelines
July 17, 2013
It seems nearly certain that Ben Bernanke will not serve a third consecutive four-year term as Fed Chairman. His stewardship ends on January 31, 2014. Fed Chairmen are appointed by the president, subject to senate confirmation. Bernanke’s immediate predecessors were Paul Volcker and Alan Greenspan. The selection of Greenspan was announced by President Reagan on […] More
Central Bank Watch
Dovish Policy Mind-Set at Bank of Canada
July 17, 2013
Canadian monetary officials, now led by Stephen Poloz, decided to keep the overnight money rate target at 1.0%, its level since September 2010. In a released statement, they were less equivocal in predicting that the rate will remain at 1.0%. The forecast is still a conditional one, hinging on slack in the economy, a muted […] More
New Overnight Developments Abroad - Daily Update
Five Central Banks Share Spotlight
July 17, 2013
Federal Reserve Chairman Bernanke delivers his semi-annual monetary policy report before the House Financial Services Committee today. Formerly known as the Humphrey-Hawkins testimony, Bernanke is expected to draw a distinction between reducing quantitative easing and raising ultra-low interest rates. But the issue is not the lowness of the shortest end of the spectrum, which the […] More
