Central Bank Watch
European Central Bank Policymakers Pull the Trigger on Quantitative Easing
January 22, 2015
The ECB today announced a decision to begin buying in March sovereign and private-sector bonds at a pace of EUR 60 billion per month. Officials took this controversial action, not favored by all, in response to lower-than-expected inflation, weaker-than-desired money and credit growth following earlier initiatives including long-term loans of cheap credit to banks, an […] More
Central Bank Watch
Central Bank of Brazil
January 22, 2015
Brazil has several sizable economic imbalances. Inflation of 6.4% in the year to December is hovering around the top of the 2.5-6.5% target range in spite of the dive in global oil prices. GDP contracted marginally between the third quarters of 2013 and 3Q14. The current account and fiscal deficits are excessive, constituting around 4% […] More
New Overnight Developments Abroad - Daily Update
More Monetary Policy Changes
January 22, 2015
Yesterday it was the Bank of Canada. Today, the ECB Governing Council announced plans to begin buying EMU member sovereign debt bonds and private sector bonds in March. EUR 60 billion of assets will be bought each month in this quantitative policy initiative and continue through September of 2016. In any case, the program will […] More
