BOE
Big Day for Central Bank Policy Meetings
March 16, 2017
On Wednesday, the Federal Reserve increased its target fed funds rate band by 25 basis points to 0.75-1.0%. Although meeting expectations, remarks by Chair Yellen proved more dovish than expected. Policymakers envisage the same number of rate increases this year and next as they did back in December. On the central banking front today, The […] More
Eroded Confidence in Central Banks
June 16, 2016
The yen leaped as high as 103.55 per dollar from 105.95 at the Wednesday close following the Bank of Japan’s decision not to change policy settings at its June meeting. The Nikkei tumbled 3.1% to 15,434, and the 10-year JGB yield is at -0.21%. Investors were bummed out by Janet Yellen’s press conference yesterday. While […] More
U.S. and Canadian Jobs Day
July 5, 2013
Folks who took Independence Day off missed a lot of excitement, as both the European Central Bank and Bank of England took steps to control bond market damage caused by talk of Fed tapering. See my reviews of the ECB and BOE actions. Attention today now turns to the U.S. Labor Department employment report due […] More
Euro Sharply Higher Against Yen
March 7, 2013
The spotlight today has been on central bank activity. Shirakawa’s outgoing Bank of Japan Board stuck to the status quo, but significant further easing is expected next month from the new BOJ leadership team. The European Central Bank also made no changes but accentuated issues that tend to buoy the euro. Growth forecasts were lowered, […] More
