Archive for February 26th, 2019

Deeper Analysis

Powell’s Humphrey Hawkins Testimony

February 26, 2019

Fed Chairman Powell statement before the Senate Banking Committee presents a decent baseline view of the U.S. economy, observing a strong labor market and projecting inflation around the 2% target once some transitory depressants pass. However, the following two paragraphs lay out a number of undesirable short-term and longer run developments that ought to be […] More

Central Bank Watch

No Change in Hungarian Monetary Policy at Latest Review

February 26, 2019

Magyar Nemzeti Bank’s base rate has been at 0.90% since a 15-basis point cut in May 2016, and Hungary’s overnight deposit rate has been negative 0.15% since a a 10-basis point reduction in September 2017. A statement released today after the latest review speaks of eventual normalization: The Monetary Council is prepared for the gradual […] More

New Overnight Developments Abroad - Daily Update

Theresa May Has Spoken.. and Awaiting Powell’s Testimony

February 26, 2019

Prime Minister Theresa May blinked. If a Brexit deal can’t be agreed upon, Parliament will be given the opportunity to vote on delaying an exit without a deal. She spoke of a two-year transition in which the U.K. will continue to honor its commitments to the EU. Sterling rose 0.5% following her remarks, and the […] More