Central Bank Watch
Bank of England’s No Change Decision Today More Finely Balanced Than 7-2 Vote Suggests
June 20, 2024
News came yesterday that British CPI inflation had fallen to a 34-month low and target-matching 2.0%. The Bank of England’s 7-2 vote in favor of maintaining a 5.25% base rate drew dissents from the same two policymakers who wanted a 25-basis point initial reduction at the prior policy review. However, within the majority, which preferred […] More
Central Bank Watch
A Second Interest Rate Cut in Switzerland
June 20, 2024
The Swiss National Bank’s quarterly review of policy resulted in an as-expected 25-basis point cut in the bank’s interest rate benchmark to 1.25% following an initial reduction also of 25 bps at the prior review in March. A released statement revised down projected CPI inflation from the second quarter of next year through the outermost […] More
New Overnight Developments Abroad - Daily Update
Several Central Banks Held Policy Reviews Today
June 20, 2024
The dollar, equity markets,and 10-year sovereign bond yields rose overnight. The dollar strengthened most sharply against the Swiss franc (0.7%) but also climbed 0.2% relative to the yen and euro and by 0.1% versus sterling and the Canadian dollar. Stock markets closed up 1.4^ in Indonesia, 0.9% in Taiwan, 0.8% in New Zealand, 0.2% in […] More
