Commodity-dependent Norway's Norges Bank to cut rates?

Sep 18, 2015 05:22 am UTC| Commentary Central Banks

Norges Bank last cut on June 18th and began cutting last December for a cumulative 50bps move to 1%. Economists are divided on whether another cut may be delivered now. That sounds familiar. Anyway, crude oil,...

Another Greece election ahead?

Sep 18, 2015 05:20 am UTC| Commentary

The issue is whether the resulting government will be able to effectively implement the bail-out agreement or, worse yet, whether this election settlesanything or another election lies ahead. It probably continues to...

Will Greece’s Election Settle Anything?

Sep 18, 2015 05:18 am UTC| Commentary

Three main risks will overhang European markets next week, Greek election results into the Monday market open, testimony by ECB President Mario Draghi on Wednesday, and European purchasing manager indices as a guide to...

Discrepancy between market and Fed’s rate path reflects difference in inflation outlook

Sep 18, 2015 05:02 am UTC| Commentary Central Banks

In accordance with changes in the economic outlook, the updated interest rates projections show that the leadership, as proxied by the average of the 4-6 dots, modestly lowered the pace of the hiking cycle. The fed...

Probability of Fed hiking in October looks high

Sep 18, 2015 04:59 am UTC| Commentary

The market is pricing in a roughly 20% probability of the Fed hiking at the October meeting (Nov-Sep FF spread of 4bp) a and roughly 40% likelihood of the Fed hiking at the December meeting (Jan-Nov FF spread of 8bp) for a...

Fed makes modest changes to growth projections

Sep 18, 2015 04:57 am UTC| Commentary Central Banks

The Fed made modest changes to the growth projections, which suggests that it does expect the tightening of financial conditions to be a drag on growth. The Fed expects growth to average 2.1% in 2015. With growth in the...

RBA's Stevens says lower AUD assisting economy, but growth not fast enough

Sep 18, 2015 04:18 am UTC| Commentary Central Banks

Reserve Bank of Australia Governor Glenn Stevens told Australias parliament on Friday that the lower Australian dollar is having a bigger impact on the economy now, but that growth is still not as fast as hoped...