Archive for July 8th, 2015

Central Bank Watch

National Bank of Poland Retains a Record Low 1.5% Policy Interest Rate

July 8, 2015

A sequence of nine 25-basis points reductions and two cuts of 50 basis points beginning in November 2012 was punctuated by one of the two larger moves this past March.  As after a prior meeting in early June, monetary officials in Poland today released a statement providing a neutral policy bias. In the opinion of […] More

Foreign Exchange Insights and Next Week

Not the Result Markets Had Been Assuming

July 8, 2015

In this age of uncertainty, the baseline scenarios adopted by investment houses on key assumptions invariably assume growth-promoting outcomes.  Marketing considerations are the driver behind this forecasting bias.  Optimism sells, while pessimism does not.  Also, modeling foreign exchange and other financial market trends  is far more manageable with happy endings where unanticipated shocks occur from […] More

New Overnight Developments Abroad - Daily Update

Another Ultimatum in the Continuing Greek Standoff

July 8, 2015

Eurozone political leaders set this coming Sunday, July 12, as a final deadline for settling the Greek situation one way or another.  By then, the Greek government must submit their plan of fiscal reforms, and EU leaders will decide if such can be accepted.  Political events such as this game of high brinksmanship are very […] More