Central Bank Watch
Bank of Japan
October 31, 2023
The aforementioned Bank of Japan Board meeting ended with an announcement of no change in the -0.1% overnight interest rate target and an unchanged desire to keep the ten-year Japanese Government Bond yield around zero percent. As rumored, however, there was a significant tweak in how the JGB goal is viewed and maintained. There’s no […] More
Central Bank Watch
Kyrgyzstan and Armenia
October 31, 2023
The Central Bank of Armenia‘s interest rate has been reduced by a further 25 basis points to 9.5%. This was the fourth cut since June, totaling 125 basis points from a peak of 10.75% reached initially last December. Officials are proceeding cautiously in light of the much steeper descent of CPI inflation from 10.3% in […] More
New Overnight Developments Abroad - Daily Update
U.S. Equities Not Out of the Woods and Yen Drops After BOJ Policy Tweet
October 31, 2023
Yesterday’s 1.2-1.6% advance in major U.S. stock market indices appears more a case of bottom-fishing than the start of an uptrend. The FOMC’s two-day policy review that starts today isn’t expected to result in an interest rate hike, but the post-meeting press conference will likely strike a hawkish tone in light of recent robust U.S. […] More
