Central Bank Watch
South African Reserve Bank Rate Increase Today Not a Surprise
September 23, 2026
the key interest rate of the South African Reserve Bank was raised by 25 basis points to 7.25%, but the hike was not unexpected even though consumer price inflation currently of 4.4% happens to be hovering in the middle of the 3-6% target range. A statement explaining today’s action declares “We see upside risks to […] More
New Overnight Developments Abroad - Daily Update
Firmer Dollar, September PMI Surveys & Interest Rate Decisions from Three Central Banks
September 23, 2026
The dollar advanced overnight by 0.8% versus the won and peso, 0.7% against the Australian dollar, 0.6% versus the New Zealand dollar, 0.5% relative to sterling, and 0.3% vis-a-vis the yen, Canadian dollar, Swiss franc and euro, which got as low as $1.1400 for the first time in 8 weeks. In spite of White House […] More
New Overnight Developments Abroad - Daily Update
Deal or No Deal Choice Revised to Deal or Annihilate
September 22, 2026
The past 24 hours have been very volatile for energy prices. A slide in oil prices extended into Monday evening, but a reversal has seen the price of West Texas Intermediate crude climb around $4 in the last six hours to $96.75 per barrel. General anxiety even if generated by the U.S. president once again […] More
Deeper Analysis
Second-Quarter Growth
September 21, 2026
Among second-quarter year-on-year comparisons, real gross domestic production expanded 2.1% in the United States, noticeably faster than growth of 1.2% in the U.K., 1.2% in Euroland, 1.1% in Canada, or 0.9% in Japan. Within the euro area, growth rates in Germany (1.0%), France (0.5%), Italy (1.0%), Belgium (0.5%), and the Netherlands (1.3%) were below the […] More
New Overnight Developments Abroad - Daily Update
Last September Week of 2026 Begins with Some Sizable Financial Market Moves
September 21, 2026
(121) Today’s market adjustments revolve around the price of oil. Although shipping traffic through the Strait of Hormuz remains very light, Brent ($101.09 per barrel) and WTI ($97.67) have slumped by 2.7% and 2.6% amid some optimism ahead of the week’s summit in Washington between U.S. President Trump and Chinese President Xi. In turn, long-term […] More
Foreign Exchange Insights and Next Week
This Week’s Menu: September 19-25, 2026
September 20, 2026
Central Banks: Interest rate policy reviews in China, Hungary, Switzerland, Indonesia, South Africa, Mexico, Sweden and Norway. Atypically many central bankers around the world have scheduled speaking engagements, including Goolsbee, Barr, Barkin, Paulson, Williams, Jefferson and Hammack from the Federal Reserve, Breeden, Lombardelli and Dhingra from the Bank of England, Lagarde, Cipollone, Slejpen, Vujle, and […] More
Central Bank Watch
Controversial Japanese Interest Rate Decision
September 18, 2026
After deliberating over two days for nearly five hours, the Bank of Japan Board rendered a 25-basis point hike of their short-term interest rate to 1.25%. The decision comes just three months after the previous increase and raises the cumulative change since last December to 75 basis points. The rate hadn’t been as high as […] More
New Overnight Developments Abroad - Daily Update
Widely Awaited Bank of Japan Interest Rate Hike Comes With Mixed Baggage and Sends Yen Lower
September 18, 2026
After deliberating over two days for nearly five hours, the Bank of Japan Board rendered a 25-basis point hike of their short-term interest rate to 1.25%. The decision comes just three months after the previous increase and raises the cumulative change since last December to 75 basis points. The rate hadn’t been as high as […] More
Central Bank Watch
FOMC Statement, Updated Forecasts and Press Conference
September 16, 2026
In line with a nearly universally held consensus, the federal funds target was raised by 25 basis points to a range of 3.75-4.00%. This tightening was the first change of Kevin Warsh Fed chairmanship and the first rate increase since July 2023. The U.S. still has elevated inflation and solid economic activity that rests on […] More
New Overnight Developments Abroad - Daily Update
Anticipating A Federal Reserve Interest Rate Hike on This 34th Anniversary of Britain’s Black Wednesday
September 16, 2026
The Federal Reserve has not raised its targeted interest rate since September 2023, but financial markets are placing very high odds on that streak ending three hours from now. Coincidentally, this likely directional reversal comes on the 34th anniversary of what arguably was one of the most memorable currency market events of the floating dollar […] More
