New Overnight Developments Abroad - Daily Update
Central Reserve Bank of Peru Maintains 4.25% Interest Rate
March 9, 2017
The last change in Peru’s central bank interest rate was a 25 basis point cut in February 2016 that culminated a percentage point of easing in the space of five months. A released statement after the latest Board meeting observes a 0.4 percentage point drop in core inflation last month, in-target inflation expectations, somewhat slower […] More
Central Bank Watch
ECB in No Hurry to Rein in Stimulus
March 9, 2017
The Governing Council made no change in its interest rate structure and reiterated that any move to higher-than-present levels will occur “well after” quantitative stimulus ends. There will be EUR 80 billion of asset purchases this month followed by a pace of EUR 60 billion per month during the last nine months of 2017 or […] More
New Overnight Developments Abroad - Daily Update
Oil Swoons, Dollar Firm, and an ECB Policy Meeting
March 9, 2017
West Texas Intermediate crude oil, which closed February above $54 and at 53.20 this past Tuesday, extended its plunge by 2.3% overnight to $49.12, a 3-month low. U.S. inventories are bloated. Due to a likely Federal Reserve interest rate hike next week and mounting expectations of perhaps three more increases during 2017, the dollar rose […] More
