Foreign Exchange Insights and Next Week
Next Week’s Menu: January 25-31, 2025
January 24, 2025
Central Banks: Monetary policies will be reviewed at the Federal Reserve, European Central Bank, South African Reserve Bank, Central Bank of Brazil, Bank of Canada, Hungarian National Bank, National Bank of KrygyztanState Bank of Pakistan. Fed Chair Powell, ECB President Lagarde, and Bank of Canada Governor Macklem hold press conferences after their meetings. The Bank […] More
Central Bank Watch
Bank of Japan Lifts Interest Rate
January 24, 2025
The new 0.5% Bank of Japan interest rate is not only its highest since November 2008 but also matches its highest point since September 1995. This week’s Bank of Japan Board meeting coincided with an updated Outlook for Economic Activity and Prices with new forecasts that leave projected growth closely aligned with those made last […] More
Central Bank Watch
Singapore’s First Monetary Easing Since 2020
January 24, 2025
The Monetary Authority of Singapore, which subordinates interest rate policy to an exchange rate policy, loosened its monetary policy today. The central bank’s policy consists of a trading corridor for the trade-weighted Singapore dollar, defined by the slope, width and midpoint of target. Officials reduced the trading band’s slope but left the midpoint and width […] More
New Overnight Developments Abroad - Daily Update
Bank of Japan Eases, January Purchasing Manager Surveys, and Various Comments from Trump
January 24, 2025
The dollar fell overnight by 0.8% against the peso, 0.6% versus the yuan, 0.5% relative to the euro and sterling, 0.4% vis-a-vis the Australian dollar and 0.3% against Canada’s dollar. Alternatively, the dollar firmed 0.2% versus the yen as the Bank of Japan doubled its interest to “around 0.5%” in a move that had been […] More
