Archive for March 2nd, 2015

Central Bank Watch

Chinese Monetary Policy Eased

March 2, 2015

The People’s Bank of China has loosened credit policy for the third time in just over three months. The one-year lending and deposit interest rates were reduced by 40 basis points and 25 bps, respectively, on November 21 to 5.6% and 2.75%. The reserve requirement ratio was sliced on February 5 to 19.5% from 20.0%. […] More

Deeper Analysis

Manufacturing PMI Differential Narrowed Further

March 2, 2015

The spread between the U.S. purchasing managers index, compiled by the Institute of Supply Management, and Euroland’s PMI, compiled by Markit Economics, fell 0.6 points to a ten-month low of +1.9 points.  All of that reduction resulted from a lower U.S. reading.  Euroland’s unchanged 51.0 PMI in manufacturing masked very diverse conditions among its members, […] More

New Overnight Developments Abroad - Daily Update

Euro Rose on the First Business Day of March

March 2, 2015

The dollar kicked off a new month with gains of 0.5% against the kiwi, 0.4% relative to the Australian dollar, 0.3% against sterling, 0.2% versus the yuan, loonie and Swiss franc, and 0.1% vis-a-vis the yen but loss of 0.3% against the euro. The 12-month rate of consumer price decline in the eurozone was halved […] More