“Don’t fight the Fed” expanded to all central banks
Oct 29, 2015 14:50 pm UTC| Commentary Central Banks
The Fed met expectations by not raising rates and setting off a global market rally. Tomorrow the Bank of Japan has its turns at additional monetary stimulus. The ECB already signaled intentions in December for more...
Brazil Copom minutes – It takes two to tango
Oct 29, 2015 14:45 pm UTC| Commentary Central Banks
The speed and magnitude of fiscal policy improvement are crucial to monetary policy. This is the BCBs main message in the meeting minutes after keeping the Selic rate steady last week, which should not come as a surprise...
Soft US headline growth in Q3 masks strength in details
Oct 29, 2015 14:41 pm UTC| Commentary
US economic growth slowed to 1.5% in Q3. But nevertheless, the economic recovery is not at risk, because final domestic demand has grown strongly. Thus the data do not make a case against a Fed rate hike in...
Canadian business confidence increases for the first time since May 2015
Oct 29, 2015 14:29 pm UTC| Commentary
The CFIB business barometer rose markedly, to 58.9 in October, after being on the decline for the most part of the year. This is the indexs first significant improvement since March 2015 and suggests that businesses are...
US Q3 GDP growth dragged down by inventories
Oct 29, 2015 14:25 pm UTC| Commentary
The slowdown in GDP growth to 1.5% annualised in the third quarter, from a very strong 3.9% in the second, was mainly due to a big drag from inventories, which subtracted 1.4% points after making a neutral contribution in...
Fall in U.K. private sector net purchases of debt
Oct 29, 2015 12:40 pm UTC| Commentary
U.K. private sector net purchases of debt fell significantly on the back of domestic flows declining 17bn, while non-residents remained broadly unchanged at 7bln; for the first time since December 2013, private sector net...
CBR likely on hold as RUB weakens
Oct 29, 2015 12:31 pm UTC| Commentary Central Banks
It would be premature for the Bank of Russia (CBR) to cut at this time. Inflation in Russia remains elevated at 15.7% y/y in September and it is expected to stay at the same level in October. Weekly inflation has picked up...