Archive for June 22nd, 2022

Deeper Analysis

Remember the Misery Index

June 22, 2022

The misery index, a fabricated summary economic statistic that gained fame during the late 1970s and early 1980s but pre-existed that era, simply adds the U.S. 12-month rate of CPI inflation to the unemployment rate for any given month. The misery index peaked at 22.0 in June 1980 and registered a record low of 3.0 […] More

Central Bank Watch

Percentage Point Increase of Icelandic Central Bank Rate to 4.75%

June 22, 2022

The Central Bank of Iceland raised its policy rate today by a full percentage point, just as it had done at its prior review in early May. The rate from now will be at 4.75%, up from 2.0% at the end of 2021, and a pandemic low of 0.75% from May 2020 until May 2021. […] More

Central Bank Watch

Swiss National Bank Interest Rate Hiked by 50 Basis Points

June 22, 2022

The quarterly review of the Swiss National Bank’s monetary policy ended with an unexpected 50-basis point increase of the policy interest rate to -0.25%. The rate had been at -0.75% since January 2015, and this was the first increase since 2007. A released statement opines that more rate hikes are likely and reaffirms the practice […] More

New Overnight Developments Abroad - Daily Update

With Central Bank Policies in Today’s Spotlight, Tuesday’s Equity Rally Has Been Followed by Renewed Selling on Wednesday

June 22, 2022

Fed Chairman Powell delivers his semi-annual congressional testimony on U.S. monetary policy and the economy at 10:00 EDT (14:00 GMT) before the Senate Banking Committee. He is likely to strike a hawkish tone, prioritizing the goal of reducing inflation and halting the upward creep of expected inflation. The quarterly review of the Swiss National Bank’s […] More

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