ECB tilts the odds towards additional Riksbank easing by year-end

Oct 25, 2015 22:00 pm UTC| Commentary Central Banks

Last weeks ECB policy meeting has important ramifications for future Riksbank policy. Given the expectations for a time-extension of ECB QE, followed by a likely deposit rate cut in 2016, an increased likelihood is seen...

Looking for signs from the Swiss National Bank

Oct 25, 2015 21:29 pm UTC| Commentary Central Banks

More policy accommodation by the ECB in the coming months will likely add pressure to the SNB and increase market speculation regarding further policy measures. Indeed the SNB is expected to step up FX purchases should the...

Looking for the BoJ to ease further, but it is a close call

Oct 25, 2015 21:15 pm UTC| Commentary Central Banks

Disappointing economic data, a risk of another technical recession, a flat Philips curve, and weak corporate inflation outlook led to some market expectations for further easing at this weeks BoJ meeting. Economists calls...

ECB pares the way for more QE by year-end, expect further EUR downside

Oct 25, 2015 20:25 pm UTC| Commentary Central Banks

The ECB surprised markets last week, strongly hinting additional policy stimulus at its December meeting, when the committee updates its economic projections. A time extension of the PSPP program by 6-9 months is the most...

ECB underpins risk assets while pushing yields and EUR lower

Oct 23, 2015 17:00 pm UTC| Commentary Central Banks

The ECB surprised by being much more dovish than we expected yesterday and more or less pre-announcing easing in December. We now look for a deposit cut from the ECB of 10bp on top of an extension of the QE programme...

China delivers monetary easing and financial reform in one step

Oct 23, 2015 16:10 pm UTC| Commentary Central Banks

China delivered another dual cut today to support the struggling economy, 25bp to the interest rates and 50bp to the reserve ratio. As a historical move, the deposit rate ceiling was removed, making interest rates fully...

FOMC Preview-Data dependent Decemberists

Oct 23, 2015 14:32 pm UTC| Commentary Central Banks

The FOMC meets onOctober 27-28, but is not expected to announce a rate hike. The FOMC is likely to prefer to wait until December to make a decision whether to go ahead with a 2015 liftoff. Since there will not be an update...