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
