Foreign Exchange Insights and Next Week
Next Week
December 11, 2015
Central Banks: Interest rate policy meetings are scheduled at the Federal Reserve and in Mexico, Sweden, Norway, Japan, Chile, Colombia, Indonesia, Taiwan, Hungary, the Czech Republic and Thailand. Minutes from the Reserve Bank of Australia’s December meeting get released. The FOMC meeting, which is expected to produce a 25-basis point interest rate hike, will be […] More
Central Bank Watch
Bank of Russia
December 11, 2015
Russia’s one-week auction rate increased from 5.5% prior to March 2014 to 17% by the end of last year. 900 basis points of that tightening occurred in November and December alone, as Ukraine-related sanctions on Russian trade and plunging oil prices conspired to send the ruble into a tailspin. With GDP imploding, the ultra-tight monetary […] More
Central Bank Watch
Central Reserve Bank of Peru Hikes Interest Rate
December 11, 2015
A second 25-basis point increase has been engineered in Peru’s monetary policy rate to 3.75%. An initial move of same size was decided this past September. A statement from monetary authorities observes above-target inflation expectations and a recent acceleration of on-year CPI inflation to 4.17% in November from 3.66% in October. The target range is […] More
New Overnight Developments Abroad - Daily Update
Three Shocks Slam Global Financial Markets
December 11, 2015
Stocks are plunging and the 10-year Treasury yield fell seven basis points today in response to three developments. Oil prices fell 1.2% to $36.33 per barrel. Commodities were hit by a projection from the International Energy Agency that the global oil surplus will persist for another year. China’s central bank website announced plans for the […] More
