Archive for November 3rd, 2021

Central Bank Watch

FOMC Statement and Powell Press Conference

November 3, 2021

The FOMC statement as expected laid out a schedule of tapered new asset purchases that will phase out that activity altogether after next June. Today’s statement indicates another unanimous 11-0 decision but does not address the timing of a subsequent interest rate lift-off. Monthly increases in Fed holdings of Treasury Securities will be reduced by […] More

Deeper Analysis

Bigger-Than-Expected Central Bank Policy Rate Hike in Poland

November 3, 2021

A 75-basis point increase in Poland’s central bank reference rate followed a 40-basis point hike at the prior October meeting and, at 1.25%, will lift the rate level to within 25 basis points of its pre-pandemic 1.5% level. According to a released statement from the Monetary Policy Council, The rise in global prices of both […] More

Central Bank Watch

FOMC Preview

November 3, 2021

Significant financial market movements have transpired in the six weeks since the Federal Open Market Committee last met. The ten-year Treasury yield is a quarter percentage point higher now, and the dollar has appreciated 4.5% against the yen and 1.3% versus the euro. The Dow Jones Industrial Average closed at a record high yesterday and […] More

New Overnight Developments Abroad - Daily Update

After Political Setback for the Democrats, Investor Attention Turns to Fed and Global Economic Trends

November 3, 2021

The FOMC decision will be announced at 14:00 EDT (18:oo GMT) and followed by Powell’s press conference 30 minutes later. A tapering of Fed net monthly asset purchases currently totaling $80 billion of Treasury securities and $40 billion of mortgage-backed securities is widely expected. Running on an anti-vaccination and anti-progressive cultural message, U.S. Republicans in […] More

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