Central Bank Watch
Another Brazilian Central Bank Interest Rate Cut
July 26, 2017
The Selic rate has been reduced to 9.25% from 10.25%. The previous cut was made at the end of May and also 100 basis points in size. The current easing cycle began three years ago in July 2014 at 17.5%. A statement released by Copom, the Central Bank of Brazil’s policymaking committee, observes continuing disinflation […] More
Central Bank Watch
Minor Modifications Only in FOMC Statement
July 26, 2017
Today’s FOMC statement left the federal funds rate target range at 1.0-1.25% as widely expected. The document added virtually nothing meaningfully new to the market’s understanding of current policy and the intentions of its officials, yet it produced a further significant drop in the dollar, which hit a low of 1.1741 per euro during the […] More
New Overnight Developments Abroad - Daily Update
Oil and Stocks Firmer
July 26, 2017
The Federal Open Market Committee completes its two-day policy review and will announce its findings and plans at 14:00 EDT (18:00 GMT). See preview. Second-quarter corporate earnings have been mostly better than expected and have provided a supportive foundation for equities. 10-year sovereign debt yields are down three basis points in the U.K., 2 bps […] More
