Central Bank Watch
FOMC Statement and Forecasts
September 26, 2018
The Federal Open Market Committee as expected raised its federal funds target by a quarter percentage point to a range of 2.00 – 2.25%. The released statement Repeated the same first paragraph used after the August 1 statement, which deals with economic conditions. Made no changes to the second paragraph that projects how its mandate […] More
Central Bank Watch
FOMC Preview
September 26, 2018
Markets have already priced in the Fed’s eighth increase of the federal funds target to a range of 2.0-2.25%. The increment of each hike has been 25 basis points, so today’s likely move will complete two full percentage points of tightening and be probably enough to warrant deletion in today’s FOMC statement of a characterization of […] More
Central Bank Watch
Czech National Bank Takes Another Step Toward Interest Rate Normalization
September 26, 2018
In November 2012, Czech monetary policymakers enacted their final interest rate cut of the Great Recession cycle, lowering the 2-week repo rate to 0.05%, which they considered to be the lowest level such could safely go and therefore a virtual zero rate policy. A cap on koruna appreciation at 26 per euro was imposed a […] More
New Overnight Developments Abroad - Daily Update
Marking Time Ahead of Likely FOMC Rate Hike Later Today and Kavanaugh Hearing Tomorrow
September 26, 2018
The FOMC policy announcement today at 14:00 EDT (18:00 GMT) is expected to justify another 25-basis point rate hike now and to leave in play a possible fourth move this year in December. New forecasts will be unveiled, and Chairman Powell will preside over a press conference starting at 14:30 EDT to explain the latest […] More
