Archive for April 28th, 2016

Central Bank Watch

Another Bank of Japan Surprise

April 28, 2016

The BOJ Board did not change any policy settings at this week’s meeting, surprising analysts and investors who almost universally were anticipating the unveiling of new stimulus.  Ever since a Japanese discount rate hike on Christmas Day 1989, I’ve learned to expect anything from Japan’s central bank.  It is ingrained in the institutional culture there […] More

New Overnight Developments Abroad - Daily Update

Investors Shocked by BOJ’s Decision Not to Ease Policy Further

April 28, 2016

The yen climbed 2.6% against both the dollar and euro, the Japanese Nikkei plunged 3.6%, and the 10-year JGB yield fell 3 basis points to -0.09%. The dollar otherwise fell 1.2% against the kiwi and is down 0.3% relative to the loonie, Swissie, yuan, Aussie dollar and sterling.  EUR/USD is flat. In other equity news, […] More