Deeper Analysis
Euroland’s PMI Advantages Versus the U.S. Extended in November
December 5, 2017
Whereas the U.S. non-manufacturing purchasing managers index fell 2.7 points to a 3-month low of 57.4 in November, Euroland’s service-sector PMI rose to a six-month high of 56.2. The resulting 1.2-point spread between the two data series was 3.9 points less U.S.-advantageous than in October and the narrowest differential since August. Adding this differential to […] More
Central Bank Watch
National Bank of Poland
December 5, 2017
A statement released after this month’s Monetary Policy Council meeting exhibits no urgency to modify Poland’s 1.5% reference interest rate. The last changes to such were a pair of 50-basis point cuts in January and March of 2015. Before that, 225 basis points of easing were implemented from January 2012 to July 2013. The global […] More
Central Bank Watch
Australian Official Cash Rate Kept at Record Low of 1.5% as Expected
December 5, 2017
The OCR of the Reserve Bank of Australia has been 1.5% since a pailr of 25-basis point reductions in May and August of last year. Governor Lowe’s statement after this month’s Board meeting reiterates that wage and core price inflation, as well as long-term interest rates, continue to be low. It does not assert that […] More
New Overnight Developments Abroad - Daily Update
Many Data Released But Market Attention Focused on U.S. Congress
December 5, 2017
Purchasing manager surveys are among a slew of economic statistics reported around the world today. A highly partisan U.S. Republican tax bill grinded further toward approval, and so did the Senate confirmation process of Jay Powell as the next Federal Reserve Chairman. There were two central bank meetings. The National Bank of Poland and Reserve […] More
