Central Bank Watch
South African Reserve Bank
November 21, 2013
For an eighth straight time, a meeting of South Africa’s Monetary Policy Committee decided to keep its repo rate at 5.0%. Officials are between the rocks of inflation precariously near the target’s upper limit and the potential for more rand depreciation because of Fed tapering that will start either sooner or later and the hard […] More
Foreign Exchange Insights and Next Week
Ahead of the Thanksgiving 2013 Break
November 21, 2013
Private and public analysts have lately expressed more optimism about the global economic outlook, but the reality is still fraught with plenty of downside risk. The fourth Friday of November arrives this year on the 28th, which is its latest possible date for Thanksgiving and associated with the shortest possible U.S. holiday shopping season. Beyond […] More
Central Bank Watch
Review of Bank of Japan Meeting: Policy Left Unchanged
November 21, 2013
The Bank of Japan statement after this month’s 5 hour and 9 minutes-long two-day meeting is almost an identical replica of the October 4 statement. The only change of significance was an upgrade in the view of overseas economies from “on the whole gradually heading toward a pick-up” expressed a month ago to new language […] More
New Overnight Developments Abroad - Daily Update
Attention to Central Banks and PMI Data
November 21, 2013
The Bank of Japan did not change monetary policy nor its economic assessment but did upgrade its view of overseas economic conditions. Governor Kuroda talked confidently about economic trends and the achievements so far of quantitative and qualitative monetary stimulus. Chatter continues after FOMC minutes proved a bit more hawkish than expected. Reserve Bank of […] More
