Central Bank Watch
Bank of Japan Policy Unchanged
October 28, 2021
The Bank of Japan retained targets of -0.1% on its short-term policy interest rate and “around zero percent” for the 10-year JGB bond yield, according to today’s statement. In the 8-1 decision, Kataoka again favored a more expansionary stance. Today’s meeting coincided with publication of the quarterly Outlook for Economic Activity and Prices in which […] More
Central Bank Watch
European Central Bank: No Policy Changes Now But Maybe in December
October 28, 2021
The ECB kept its interest rate structure (a zero percent refinancing rate flanked by a -0.5% deposit rate and a 0.25% marginal lending facility rate) and didn’t change the quantitative elements of monetary stimulus, either. The Governing Council concedes that inflation will likely take longer to retreat into its target but expressed continuing confidence that […] More
New Overnight Developments Abroad - Daily Update
U.S. GDP, Monetary Policy Statements from ECB & Japan, and So Much More
October 28, 2021
Financial market activity overnight: The dollar and 10-year sovereign debt yields are little changed on this busy Thursday. Equities fell in Asia including losses of 1.2% in China, 1.0% in Japan, 1.2% in Indonesia, and 1.9% thus far in India. European share prices have risen a bit, however, and U.S. futures are also in the […] More
