Central Bank Watch
Reserve Bank of Australia Keeps 2.5% Official Cash Rate Level
October 7, 2014
The statement released after this month’s RBA Board meeting repeats many points from prior statements. Growth is expected to be a little below trend for the next several quarters. Modest wage pressure “should keep inflation consistent with the 2-3% target even with lower levels of the exchange rate.” Monetary policy remains accommodative. Credit growth is […] More
Central Bank Watch
Bank Indonesia
October 7, 2014
Between June 2013 and October 2013, the BI interest rate was lifted five times by a total of 175 basis points to its current level of 7.5%. A statement released after this month’s regularly scheduled Board of Governors meeting concedes that GDP will expand only at the lower end of the range previously predicted, notes […] More
Central Bank Watch
Bank of Japan Review
October 7, 2014
A five hour 39 minute meeting of the BOJ Board ended with the release of a statement that acknowledged that business conditions appear not to have revived as much last quarter as hoped, expressed continuing confidence in an outlook of moderate recovery, positive inflation for now, and eventual attainment of sustained 2.0% core inflation. Downgrades […] More
New Overnight Developments Abroad - Daily Update
Lower Share Prices Again
October 7, 2014
Stocks fell 1.1% in India, 0.7% in Japan, and 0.6% in Taiwan. The DOW is off 0.7%, and European equities have fallen by 1.9% in Spain, 1.5% in France and Italy, 0.9% in Germany and 0.8% in Britain. Investors were bummed out by confusing Japanese policy signals and a much-greater-than-anticipated 4.0% drop in German industrial […] More
