Deeper Analysis
Non-Manufacturing PMIs in the U.S. and Eurozone
November 4, 2015
Euroland’s services purchasing managers index rose only 0.4 points in October, much less than the 2.2-point increase in America’s non-manufacturing PMI. The U.S. advantage, seen by subtracting the eurozone reading from the U.S. score widened 1.8 points as a result to a 3-month high of 5.0 points. The sum of this differential and the manufacturing […] More
Central Bank Watch
Bank of Thailand Holds Policy Rate at 1.5%
November 4, 2015
Monetary officials consider the current monetary stance sufficiently accommodative and appropriate. A released statement declares, “headline inflation is projected to rise gradually, and to turn positive in the first quarter of next year. Meanwhile, deflationary risks remain contained as demand continues to expand and core inflation is still positive, consistent with medium-term inflation expectations of […] More
Central Bank Watch
National Bank of Poland
November 4, 2015
Poland still has negative CPI and PPI inflation. The key central bank policy interest rate of 1.5%, lowest in nearly 5-1/2 years, was cut eight times by a total of 225 basis points between November 2012 and September 2013 to 2.5% and then lowered by another 50 bps in January 2014 and, most recently, 50 […] More
Central Bank Watch
More Gradual Monetary Tightening Outlined for Iceland
November 4, 2015
The Central Bank of Iceland’s seven-day collateralized lending rate was hiked 25 basis points to 6.50%, half as much as two earlier tightenings engineered this year in June and August. A statement released by the Monetary Policy Committee afterward revised projected growth upward but near-term inflation downward. The short-term inflation outlook is considerably better than […] More
New Overnight Developments Abroad - Daily Update
Service Sector PMI Reports and Fed Official Remarks Head Wednesday’s Action
November 4, 2015
Yellen, Fisher, Dudley and Hacker speak publicly today, creating plenty of opportunity for affirming likeliness of a December Federal Reserve interest rate hike. The dollar has risen by 0.4% against the euro, 0.2% versus the kiwi, and 0.1% relative to the yen. It’s unchanged against sterling, the loonie and yuan and down 0.1% vis-a-vis the […] More
