Central Bank Watch
Bank of Canada Interest Rate Doubled to 1.0%, More Hikes and Balance Sheet Reduction to Come
April 13, 2022
Today’s 50-basis point rate hike, although widely expected, was an historic move. Such represents the first hike of that much by a Group of Seven central bank and the Bank of Canada’s largest incremental rise since 2000. Officials had only recently ended its pandemic relief program of bond purchases to support liquidity and now has […] More
Central Bank Watch
Fourth New Zealand Central Bank Rate Hike Larger than the Others
April 13, 2022
The Reserve Bank of New Zealand’s Official Cash Rate has been raised twice as much as was expected this month. Today’s increase of 50 basis points followed three 25-basis point moves last October, November and February. CPI inflation in New Zealand increased to 5.9% last quarter, well above target, from 4.2% in 3Q, 3.3% in […] More
New Overnight Developments Abroad - Daily Update
Rising Inflation Lifts Interest Rates, the Dollar and the Price of Gold
April 13, 2022
The hope is that March might see inflation crest, but investors have heard that story before only to be disappointed. Fresh on the heals of yesterday’s U.S. March CPI data (a 483-month high of 8.5% in the total index and a 475-month 6.5% high of core CPI), U.S. producer price data arrive today. The Federal […] More
