Central Bank Watch
Czech National Bank
November 6, 2014
The Czech central bank extended its exchange rate policy past end-2015 and retained a virtual zero interest rate policy after this month’s policy meeting. The two-week repo rate has been at 0.05% for the past two years. A year ago this month when more stimulus was needed but room to cut interest rates no longer […] More
Central Bank Watch
Central Bank of Malaysia: No Further Rate Change
November 6, 2014
Malaysia’s operating policy rate had been lifted from a base of 2.0% by 25 basis points each in March 2010, May 2010, July 2010, May 2011 and, most recently, July of this year. A statement from officials today defends the existing accommodative yet appropriate policy. It observes that “while the moderating trends [in exports and […] More
Central Bank Watch
Bank of England: Nothing New to Report
November 6, 2014
The Bank of England’s monthly meeting of the Monetary Policy Committee ended with the announcement of no new policy setting and notification that people interested in learning about the committee’s latest thinking should refer to the quarterly Inflation Report that arrives November 11 and minutes of the just completed policy meeting that will be published […] More
Central Bank Watch
ECB Hidden Agenda: Weaker Euro
November 6, 2014
The ECB didn’t change its three interest rates. The refinancing rate of 0.05% has been flanked by a marginal lending rate of 0.3% and a deposit rate of -0.20%. Each was cut by 10 basis points in September. Draghi’s main message, emphasized in his press conference, is that the ECB balance sheet will be expanding […] More
New Overnight Developments Abroad - Daily Update
Dollar Little Changed Ahead of Draghi Monthly Press Conference
November 6, 2014
The dollar is up 0.2% versus sterling and 0.1% relative to the loonie, unchanged against the kiwi and yuan, and down by 0.3% against the euro, 0.2% vis-a-vis the Swissie and Aussie dollar, and 0.1% relative to the yen. South Korean officials complained about the recent weakening trend of the yen and said more would […] More
