European Central Bank
Middle East Takes a Turn for the Worse, Forcing Monetary Authorities Around the World to Wait and See
March 19, 2026
The Strait of Hormuz remains essentially closed to shipping traffic, and Israel and Iran have escalated the race to destroy Middle Eastern energy facilities as thoroughly as possible. Brent crude briefly hit $119 per barrel, and West Texas Intermediate continues to hover a bit above $97. The escalating conflict has ripped up the script on […] More
Fresh Anxiety about Coming AI Disruption Adding to Existing Worries about Trade & Geopolitical Tensions
February 5, 2026
The jittery mood of investors is generating big and sudden swings in world financial markets. While last year showcased a suspect dollar but buoyant equity markets, stocks, Bitcoin and precious metals have lately been the objects of most volatility. In overnight action up to this morning’s interest rate decision announcements by the the European Central […] More
Equities Lit Up By Surprisingly Low U.S. CPI Reading
December 18, 2025
Released U.S. consumer price data for November this Thursday overshadowed a continuing parade of scheduled central bank interest rate decisions, with the greatest impact directed at stock markets in Europe and the United States. There had been atypically high uncertainty about what the CPI release would show due to the U.S. federal shutdown-related lull in […] More
A Three-Ring Circus of Market Influences
October 30, 2025
A 90-minute meeting between Presidents Trump and Xi in South Korea resulted in a de-escalation of trade tensions but a rise in national security brinkmanship. While a formal trade deal was not signed, an understanding was reached on several points. The treat of a 100% U.S. tariff on China was dropped, and the fentanyl-related levy […] More
Markets Steady As Investors Await ECB Decision, U.S. August CPI Figures, and Fallout from Shooting of Charlie Kirk
September 11, 2025
Two and a half hours prior to U.S. released consumer price data, the weighted DXY dollar index was marginally above Wednesday closing levels. Gains ranged from 0.1% against the euro and Swiss franc to 0.3% relative to the yen and Canadian, New Zealand and Australian currencies. Ten-year sovereign debt yields had risen a basis point […] More
Central Banks and Preliminary July Purchasing Manager Surveys Share the Spotlight Today
July 24, 2025
U.S. President Trump and his entourage will tour the controversial Federal Reserve Board renovation site in Washington today in a confrontation sure to deliver a further blow to America’s claim to keeping monetary policy free from political interference. Announced central bank decisions by the European Central Bank, Central Bank of Ukraine and Central bank of […] More
Further Interest Rate Cut in Euroland
April 18, 2025
All three major interest rates at the European Central Bank were indeed cut yesterday morning by the expected 25 basis points, resulting in a cumulative decline of the deposit rate since last June to 175 basis points to 2.25% and 210 bps to 2.40% in the central bank refinancing rate. In justifying today’s move, note was […] More
Central Bank Policies in the Spotlight; Dollar and U.S. Equities Rebound
April 17, 2025
The weighed dollar index recovered 0.5% from Wednesday’s intra-day low, with overnight gains of 0.5% against the Swiss franc and yen, 0.3% versus the yen, Canadian dollar and Swiss franc, and 0.1% relative to sterling. Ten-year sovereign debt yields, which had previously declined, rose overnight by 5 basis points in Japan, 3 bps in France, […] More
Central Bank Rate Changes in Turkey, Kazakhstan and Euroland
March 7, 2025
Authorities at the National Bank of Kazakhstan lifted their policy interest rate today by 125 basis points to 16.5%, just 25 basis points south of the past cyclical high of 16.75% from December 2022 until August 2023. The rate had subsequently been cut toa low of 14.25% from June 2024 until a 100-basis point hike […] More
25-Basis Point Cut in European Central Bank Interest Rates
January 30, 2025
As was expected, the Governing Council of the European Central Bank undertook a fifth interest rate cut, and its size was 25 basis points. The cutting edge deposit rate was lowered to 2.75% versus 4.0% prior to last June’s initial reduction. A released explanation of today’s move again stressed that there is not predetermined schedule […] More
