Central Bank Watch
Another Official Cash Rate Cut in New Zealand
September 9, 2015
The OCR was reduced by 25 basis points for a third straight time. This reverses all but one of the similarly sized hikes between March and July of last year. More cuts are coming according to today’s statement: “A reduction in the OCR is warranted by the softening in the economy and the need to […] More
Larry's Blog
Earned Trust is a Fleeting Commodity
September 9, 2015
Never trust completely what you hear from financial market advisors. Decades of experience in this business have led me never to attach 100% or 0% probability to a forecast. Even the top guns in the business have been known to get the outlook entirely wrong, and as an example I came across in my files […] More
Central Bank Watch
Bank of Canada Maintains 0.50% Overnight Money Rate Target
September 9, 2015
The Board deliberates interest rate policy eight times per year and had cut the interest rate target at two of the five earlier meetings in 2015. Canada experienced a real GDP contraction in each quarter of the year’s first half. When the key rate was sliced July 15 to 0.50% from 0.75%, the action was […] More
New Overnight Developments Abroad - Daily Update
Enormous Rebound in Asian Equities
September 9, 2015
Amid hopeful speculation of new Chinese fiscal stimulus, the Shanghai Composite index closed 2.3%, and other stock markets in the region recorded even larger gains. Japan’s Nikkei jumped 1,343 points or 7.7%, the largest percentage daily advance since October 28, 2008, which was a corrective move in an otherwise bear market. Equities also advanced 4.2% […] More
