Archive for January 30th, 2015

Deeper Analysis

January in Figures

January 30, 2015

2014 got off to an extraordinarily volatile start in the marketplace, with huge declines in long-term interest rates, big gains in the yen and dollar, wide swings in equities not all in the same direction, a 9.4% drop in oil prices, and a recovery of 8.0% in the price of gold. The month saw huge […] More

Foreign Exchange Insights and Next Week

Next Week

January 30, 2015

Central Banks:  Monetary policy meetings are scheduled in the U.K., Poland, Australia, Romania, India, Iceland and the Czech Republic.  The Reserve Bank of Australia’s quarterly Monetary Policy Statement and the ECB’s monthly Bulletin will be published.  Rosengren, Bullard, Kocherlakota, Lockhart, and Mester are Fed officials will scheduled public speaking engagements. Holidays:  Super Bowl Sunday in […] More

Central Bank Watch

Central Bank of Russia Cuts Interest Rate to 15% from 17%

January 30, 2015

Russian consumer price inflation has catapulted higher, fed by the massive plunge of the ruble in the second half of last year.  In December alone, prices jumped 2.6%, raising the on-year advance above 11%.  From 5.5% a year ago, the Central Bank of Russia’s one-week auction rate was lifted by 150 basis points last March, […] More

New Overnight Developments Abroad - Daily Update

Barrage of Data and a Surprising Russian Interest Rate Cut

January 30, 2015

Russia’s one-week central bank auction rate was cut by 200 basis points to 15.0%.  Such had been raised by 900 bps during November-December.  Officials attribute the spike in inflation to ruble depreciation that will not continue and expressed concern about slowing growth. U.S. quarterly GDP growth slowed to 2.6% last quarter from 5.0% in 3Q.  […] More