Archive for April 24th, 2019

Central Bank Watch

Bank of Canada’s Overnight Interest Rate Target Kept at 1.75%

April 24, 2019

As analysts expected, no change was made today in Canadian central bank interest rates following the third of eight scheduled monetary policy reviews. Officials engineered rate normalization in five 25-basis point steps between July 2017 and October 2018 but made an important change to its forward guidance at its March 6th review. As recently as […] More

New Overnight Developments Abroad - Daily Update

Australian Dollar Sinks 1% against U.S. Counterpart

April 24, 2019

Australian dollar weakness, evidence of gloomier business conditions in Germany, and a review of Canadian monetary policy highlight today’s market and economic developments. Softer-than-expected¬† consumer price inflation depressed Australia’s currency by spurring speculation that the Reserve Bank of Australia might cut its 1.5% Official Cash Rate further. Consumer prices were flat on quarter in 1Q, […] More