Carney on Brexit What the heck does “prudent not passive” mean? I’m going to go out on a limb and say Carney’s forecasts and communication will be wrong, no matter the outcome of anything.
New forecasts in the Bank of Canada MPR The prior forecasts were in the October 24 MPR Shorter-term Canadian forecasts: Global growth forecasts (largely unchanged):
Bank of Canada maintains rate of 1.75% The Bank of Canada today maintained its target for the overnight rate at 1 ¾ per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1 ½ per cent.
Highlights of the Bank of Canada rate decision Guidance statement: “Weighing all of these factors, Governing Council continues to judge that the policy interest rate will need to rise over time into a neutral range to achieve the inflation target. The
Bank of Canada decision up next USD/CAD is down for the seventh consecutive day as the US dollar comes under pressure on a dovish Fed. But will the Bank of Canada match the dovish shift? We will find out at the top of the hour with the latest BOC decision. Note that this decision also…
Bostic comments More dovish stuff. There’s going to be a steady stream of this in the week ahead with many FOMC member slated to speak. The commentary from Evans and Bostic today is weighing on the US dollar and USD/JPY is now down to 108.58 from 108.90 early in New York trade.
Mester on CNBC Mester is relatively hawkish and these comments are part of the accelerated walk-down that’s looking more and more co-ordinated. Kaplan shifted to something more dovish yesterday as well.
China’s central bank comments All of that culminated in the RRR cut seen earlier today . Though a boost to risk, the real worry is that it won’t have a lasting and intended effect. China moved to cut RRR three times last year and yet equities slumped and economic activity continued to slow.
Praet will be vacating the post after 31 May 2019 Meanwhile, there is also a mention that the EU is planning to invite bids for a new ECB executive board member on 21 January and will plan to pick one on 11 February. Whoops, it appears that the candidacy for the board is also to…
PBOC announces another round of RRR cuts, last was in October As worries start to mount about a slowdown in global economic growth momentum, China isn’t taking any chances as we begin the new year. A lot of this was decided in the final week of December after they .