Central Bank Watch
National Bank of Poland Monetary Policy Stance Left Unchanged
December 4, 2013
Officials at Narodowy Bank again left Poland’s reference interest rate at 2.5% after this month’s meeting. The interest rate was lowered in eight steps between November 2012 and July 2013 from 4.75% to 2.50%. A statement released by the central bank projects subdued inflation and a continuing gradual economic recovery. The on-year CPI inflation rate […] More
Deeper Analysis
PMIs Highlight Lessening U.S. Advantage against Europe
December 4, 2013
The U.S.-minus-Euroland service-sector purchasing manager index differential was 2.7 points last month, down from 3.8 points in October and 7.9 points in August. The sum of the non-manufacturing and manufacturing spreads, seen in the rightmost column below fell by 0.5 points to 8.4 points in November and was 3.8 points lower than in August. The […] More
Central Bank Watch
Bank of Canada Deems Substantial Monetary Policy Stimulus Still Appropriate
December 4, 2013
Canada’s overnight money target has been 1.0% since a sequence of three 25-basis point hikes in June, July and September of 2010. Today policy statement notes a stronger-than-assumed housing sector but retains the forecast of a soft landing in that sector. Meantime, non-commodity exports are disappointing, Canadian oil export prices have eased, the investment recovery […] More
New Overnight Developments Abroad - Daily Update
Significant Day for Data Releases
December 4, 2013
The dollar climbed against commodity-sensitive currencies, gaining 1.2% against the Aussie dollar, 0.5% versus the kiwi and 0.1% relative to the loonie. Opec oil ministers meeting in Vienna hope to leave production quotas unchanged in an effort to keep price stable and near $100 per barrel. WTI oil advanced 1.3% overnight to $97.25 per barrel. […] More
