Foreign Exchange Insights and Next Week
Next Week
December 15, 2017
Central Banks: Monetary policy meetings are scheduled in Japan, Sweden, Thailand, the Czech Republic, and Hungary. Minutes from this month’s meeting of the Reserve Bank of Australia will be published (note that January is the one month each year when the RBA doesn’t have a scheduled policy review). Bank of Japan Governor Kuroda and Bank […] More
Central Bank Watch
Bank of Russia
December 15, 2017
Russia’s key monetary policy rate has been reduced by a greater-than-expected 50 basis points to 7.75%. A main reason why central bank officials were able to slice 50 basis points from their interest rate as they did in September and April rather than 25 bps was was done in October, June, and March is related […] More
Central Bank Watch
National Bank of Ukraine
December 15, 2017
Ukraine’s central bank interest rate was raised by another full percentage point to 14.5% just seven weeks after an initial increase of 100 basis points. As in Mexico, inflation has been higher than assumed previously, and a number of price risks continue such as rising food prices, more fiscal deficit spending, some wage pressure, higher […] More
Central Bank Watch
Another Rate Hike at the Bank of Mexico
December 15, 2017
Citing higher-than-desired inflation, the Bank of Mexico under a new president has raised its one-day interbank rate to 7.25% from 7.0%. This is the fourth increase of 25 bps in size this year, following ones in March, May and June. A prior 50 basis point hike last February culminated a series of six half-percentage point […] More
New Overnight Developments Abroad - Daily Update
U.S. Tax Plan Creating Uncertainty
December 15, 2017
Markets are taking a breather. To paraphrase Yogi, the attempted overhaul of U.S. federal taxation ain’t done until it’s done, and uncertainty over whether a plan will be approved next week, the content of such a deal and its likely economic effects has caused investors to pause from their earlier euphoria. The dollar shows losses […] More
