ECB unlikely to change its bank rate

Sep 01, 2015 06:19 am UTC| Commentary Central Banks

Euro area core rate (ex food, energy, alcohol, tobacco) remained at 1% y/y and headline inflation rate remained at 0.2% y/y in August, according to the flash estimate, despite the steep drop in oil prices. All in all,...

It is likely to get harder for BOJ to maintain QQE

Sep 01, 2015 05:24 am UTC| Commentary Central Banks

Although demand for defensive assets is rising due to a global equity rout brought by the decline in Chinese stocks and sudden devaluation of the CNY, the JGB market is relatively stable at this point. It is because JGBs...

RBA leaves cash rate at 2% as lower AUD supports growth

Sep 01, 2015 04:56 am UTC| Commentary Central Banks

For the second time in as many months the Reserve Bank of Australia signaled in its cash-rate statement that the Australian dollar was at a level which was assisting economic growth rather than hampering it. The Reserve...

Less certainty on September Fed hike

Sep 01, 2015 04:45 am UTC| Commentary Central Banks

The July FOMC statement highlighted the bar for hikes is not high with the Committee only need to see some further improvement in labor market improvement before they will be comfortable raising rates. However, uncertainty...

RBA confronting riskier outlook

Sep 01, 2015 04:30 am UTC| Commentary Central Banks

A lot has happened since the RBAs August meeting, the net effect of which must have been to make the RBA board a good deal more concerned about downside risks to the outlook. To a large extent these risks emanate from...

Poland's new monetary policy strategy for 2016

Sep 01, 2015 03:49 am UTC| Commentary Central Banks

Polands MPC is expected to announce the new Monetary Policy Guidelines for 2016 in September (probably after the September MPC meeting). The possibility that the council will change the inflation target cannot be ruled...

Poland's July MPC minutes not so dovish

Sep 01, 2015 03:49 am UTC| Commentary Central Banks

According to the July NBP minutes, the majority of council members want rates to stabilise at the current level. They wrote in the minutes that in the coming years inflation was likely to gradually rise towards the target,...