Central Bank Watch
Surprise Rate Hike in Sweden is First Increase since December 2019
April 28, 2022
The Swedish Riksbank announced a dramatic shift in its policy. The repo rate was raised from zero percent to 0.25%, defying a promise made as recently as the prior meeting in February not to raise such until well into 2024. Large global uncertainties and rapidly rising CPI inflation across a broad front forced this change […] More
Central Bank Watch
Bank of Japan Policy Unchanged
April 28, 2022
The Bank of Japan continues to contrast starkly with the Fed’s rapid transition from a patient strategy to a hurry-up offense against inflation. A four hour 54 minute deliberation over two days by the BOJ policy board ended in unchanged policy settings despite marked revisions in projected inflation and growth. The meeting unveiled a quarterly […] More
New Overnight Developments Abroad - Daily Update
New Multi-Year Highs in the Dollar
April 28, 2022
The weighted DXY dollar index has advanced 0.7% on balance today and touched a 19-year high of 103.93, which constitutes an appreciation of 43.3 in April 2008 during the subprime mortgage financial crisis. Overnight dollar highs included a 20-year peak of 131.01 against the Japanese yen and $1.0471 versus the euro. Compared to closing levels […] More
