Central Bank Watch
Central Bank of Brazil
December 6, 2017
The Selic rate was reduced to 7.0% from 7.5%. The size of the decline, the smallest of eight in 2017, did not surprise analysts. The rate is 625 basis points lower than at end-2016 and down 10.5 percentage points since mid-2014. Today’s decision was voted unanimously and without bias by Copom, the policy committee, and […] More
Central Bank Watch
Canadian Overnight Interest Rate Target Left at 1.0%
December 6, 2017
A statement released after the final scheduled Bank of Canada Governing Council meeting of 2017 observes that growth has evolved since the prior meeting along expected lines but also concedes that inflation has been a bit greater than expected and projects firmer core inflation over time. Slack is getting absorbed, but the growth of potential […] More
Central Bank Watch
India’s Policy Interest Rate Kept at 6.0%
December 6, 2017
Although the decision not to change India’s monetary policy settings had been expected, the released statement embodies some mixed signals. There was a single dissenting vote to cut the main policy rate by 25 basis points to 5.75%. A previous such cut this year occurred in early August. On the other hand, note was made […] More
New Overnight Developments Abroad - Daily Update
Stocks Continue Week’s Retreat
December 6, 2017
Equities sold off 2.9% in Hong Kong, 2.0% in Japan, 1.6% in Taiwan, 1.4% in South Korea 1.2% in Singapore and 0.7% in New Zealand. Losses today in Europe so far amount to 1.0% in Germany, 0.5% in France and Spain, 0.4% in Italy and 0.3% in Switzerland. Technology has been hit hardest. With no […] More
