Foreign Exchange Insights and Next Week
Next Week
January 29, 2016
Central Bank Beat: Monetary policy meetings in Australia, India, Poland, Thailand, the Czech Republic, the U.K., Mexico and Romania. Release of Bank of Japan minutes and Reserve Bank of Australia quarterly Monetary Policy Statement. BOJ Governor Kuroda and RBA Governor Stevens speak publicly. So does K.C. Fed President George. Election News: Iowa Caucus on Monday, […] More
Central Bank Watch
Central Bank of Russia
January 29, 2016
Russia’s key interest rate was left at 11.0%, its level since a 50-basis point reduction last July. At the end of 2014, the rate stood at 17% in an effort to contain inflation and ruble depreciation. In 2015, the rate was cut 200 basis points in January, 100 bps in March 150 bps in April, […] More
Central Bank Watch
Bank of Japan Introduces Negative Interest Rate to its Deflation-Fighting Toolbox
January 29, 2016
The five hour seventeen minute Policy Board meeting over two days surprised and electrified world financial markets with a statement that by a 5-4 vote added a negative interest-rate dimension to its nearly three-year-long experiment with quantitative and qualitative monetary easing. Reserves held by the BOJ for financial institutions will from mid-February be earmarked for […] More
New Overnight Developments Abroad - Daily Update
Japanese Central Bank Drops a Bombshell of a Surprise
January 29, 2016
The Bank of Japan adopted a negative interest rate after repeated officials comments from central bank officials earlier that they weren’t contemplating such. In response, Japanese share prices advanced 2.8% and the yen has fallen 2.2% against the dollar and 0.9% relative to the euro. The 10-year Japanese JGB yield declined 12 basis point to […] More
