Central Bank Watch
An Unexpected Interest Rate Cut in Romania
May 6, 2015
The National Bank of Romania’s monetary policy rate had been cut five times by 25 basis points each time in 2014, as well as by that amount in January, February and March of this year. Analysts were not generally expecting today’s further accommodation that saw the main interest rate fall to 1.75% from 2.0%. A […] More
Central Bank Watch
Central Bank of Poland
May 6, 2015
Poland’s Monetary Policy Council left its reference interest rate at 1.50% as expected. The Lombard and deposit rates were not changed either and remain at 2.5% and 0.5%. There have already been two key rate reductions this year, each by 50 basis points in January and March. From November 2012 through July 2013, the reference […] More
Deeper Analysis
An April Setback to Recent Convergence of U.S. and Eurozone Economies
May 6, 2015
Four four straight months between November through March, the manufacturing and service-sector purchasing manager differentials of the United States and Euroland had diminished, but each widened last month. In manufacturing, whose PMI spread had swung from +7.5 points to -0.7 points, April’s reversal in trend was very marginal to -0.5 points. But in services, the […] More
New Overnight Developments Abroad - Daily Update
Service Sector Purchasing Manager Survey Results Announced
May 6, 2015
The dollar fell 0.3% against the euro and loonie and 0.2% relative to sterling but is unchanged relative to the yen and yuan. A 0.9% advance against the New Zealand dollar contrasts with a 0.7% drop relative to the Australian dollar. Asian stock markets are showing red on the screens, with drops of 2.6% in […] More
