Category: Central banks news
RBNZ to Leave Expansionary Policy Unchanged as Growth Momentum Eases
Economic developments have been mixed since the February RBNZ meeting. Inter-meeting data show deceleration in the growth momentum, while inflation expectations have soared. Government’s measures to curb property prices would be another factors easing the growth outlook, while the Trans-Tasman travel bubble could offer help to pandemic-ridden sectors in the country. We expect the RBNZ …
RBNZ to Leave Expansionary Policy Unchanged as Growth Momentum EasesRead More
ECB’s Minutes Revealed that Upside from US’ Fiscal Stimulus Not Yet Reflected in March Forecasts
ECB’s minutes for the March meeting have lent support to EURUSD. The minutes revealed that policymakers saw upside risks to the economic outlook, thanks to US’ huge fiscal stimulus. Meanwhile, despite higher inflation in the near-term, it should remain subdued and below the central bank’s target. Policymakers also pledged to accelerate PEPP purchases in 2Q21 …
Fed Upbeat on Recovery, while Pledged to Maintain Stimulus Until Substantial Progress is Seen On Economy
The FOMC minutes for the March meeting revealed that members turned more optimistic over the economic outlook. They were more hopeful of continuous improvement in light of the “significant declines in the number of new [coronavirus] cases, hospitalizations, and deaths over the intermeeting period as well as a pickup in the pace of vaccinations”. The …
RBA Hints to Expand QE In Order to Boost Job and Inflation
The RBA left all its monetary policy measures unchanged in April. The cash rate target stays at 0.1%. correspondingly, the 3-year Australian Government Bond yield target (yield curve control) and the Term Funding Facility (TFF) interest rate also remain at 0.1%. The size QE purchases is kept at AUD100 until September. We notice a mildly …
RBA Hints to Expand QE In Order to Boost Job and InflationRead More
SNB Appears Less Concerned about Franc’s Strength, Raises Inflation Forecasts
The SNB left all its monetary policy measures unchanged. It kept the policy rate and interest on sight deposits at −0.75% and pledged to continue intervening the FX market if necessary. While leaving the growth outlook intact, the central bank upgraded slightly the inflation forecasts. In the accompanying statement, the SNB described the Swiss franc …
SNB Appears Less Concerned about Franc’s Strength, Raises Inflation ForecastsRead More
BOE Voted Unanimously to Keep Bank Rate and QE Unchanged. Warned of Uncertain Outlook Despite Upbeat Data
The BOE voted 9-0 to leave the Bank rate unchanged at 0.1%. It will also continue to buy up to 875B pound of UK government bonds and 20B pound of corporate debts. While cautioning that the economic outlook remained highly uncertain, policymakers acknowledged the recent upbeat data, smooth vaccination progress and the latest budget package. …
BOE Voted Unanimously to Keep Bank Rate and QE Unchanged. Warned of Uncertain Outlook Despite Upbeat Data
The BOE voted 9-0 to leave the Bank rate unchanged at 0.1%. It will also continue to buy up to 875B pound of UK government bonds and 20B pound of corporate debts. While cautioning that the economic outlook remained highly uncertain, policymakers acknowledged the recent upbeat data, smooth vaccination progress and the latest budget package. …
FOMC Review – Fed Revised Economic Projections Significantly Higher, while Pledged to Keep QE Size Unchanged Until Actual Progress is Seen in Economy
The staff significantly upgraded economic projections. While the policy rate will unlikely change before 2024, the median dot plot reveals that more members are now projecting rate hikes in coming two years. As widely anticipated, the Fed left all monetary policy measures unchanged: The size of asset purchases stays at US$120B per month and the …
FOMC Review – Fed Revised Economic Projections Significantly Higher, while Pledged to Keep QE Size Unchanged Until Actual Progress is Seen in Economy
The staff significantly upgraded economic projections. While the policy rate will unlikely change before 2024, the median dot plot reveals that more members are now projecting rate hikes in coming two years. As widely anticipated, the Fed left all monetary policy measures unchanged: The size of asset purchases stays at US$120B per month and the …
BOE Preview – Response to Rising Yields in Focus
We expect BOE to vote 9-0 to leave the Bank rate unchanged at 0.1%. Meanwhile, the QE program will also stay at 875B pound worth of government bonds, and 20B pound of corporate debt. Despite contraction in the first quarter, policymakers should point to the post-pandemic recovery as driven by smooth vaccination progress and an …
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