Central Bank Watch
Fifth 25-Basis Point Interest Rate Hike of 2023 Done in Australia
November 7, 2023
As expected, officials at the Reserve Bank of Australia ended a five-month pause in their interest rate-tightening cycle, which previously had seen the Official Cash Rate climb from a pandemic low of 0.10% (Nov 2020-May 2022) to 3.1% by the end of 2022 and 4.1% by early June of this year. Today’s increase was by […] More
New Overnight Developments Abroad - Daily Update
Lessening Confidence that U.S., European, or Japanese Central Banks Will Ease Monetary Policy Soon or By Much
November 7, 2023
A big takeaway from the 1970s is that inflationary periods evolve in waves when monetary policy is sensitive to signs of weakening growth. That is why central bankers for the past year have been emphasizing a need not just for actual and expected price deceleration but strong confidence that inflation will return all the way […] More
