RBA Hinted Further Easing in 1Q20
At the RBA minutes for the December meeting, policymakers affirmed that it was appropriate to leave the cash rate unchanged at 0.75%. While acknowledging stabilization in the economy, the members, however, noted that further easing would be possible. They pledged...
Lagarde Carries On Draghi’s Legacy at ECB
At the first ECB led by Christine Lagarde, the members decided to leave the deposit rate unchanged at -0.5%. Meanwhile, the main refi rate and marginal lending rate also stay unchanged at 0% and 0.25%, respectively. The pace of the...
SNB Maintains World’s Lowest Policy Rate
SNB left the policy rate unchanged at -0.75% in December. Again, the members reiterated the commitments to intervene in the currency in order to curb the appreciation of Swiss franc, which is described as “highly-valued”. They also affirmed to maintain...
Fed Set a Neutral Tone and Signaled that Rate will Stay Unchanged Throughout 2020
As widely anticipated, FOMC left the Fed funds rate unchanged at 1.5-1.75% in December. Trying to deliver a neutral tone, there were only few changes in the policy statement and the updated economic projections. The median dot plot shows that...
Fed to Leave Policy Rate Unchanged in December, and Likely for 2020
We expect the FOMC will leave the Fed funds rate unchanged at 1.5-1.75% in December. The employment report released last week confirmed a resilient job market. Other indicators showed little deviation from the trend observed in October. Indeed, unless global...
BOC Unexpectedly Turned More Upbeat in December
BOC left the policy rate unchanged at 1.75% in December. The accompanying statement turned more hawkish than October. Despite ongoing trade war uncertainty, policymakers remained upbeat about the domestic economic growth. They also acknowledged that the global economy has stabilised....
BOC to Stand on the Sideline in December, while Noting Possible Rate Cut
Despite the dovish surprise in October, we expect BOC to leave the policy rate unchanged at 1.75% this week. Economic data released during the inter-meeting period stayed firm, allowing the central bank to take more time to monitor the situation....
RBA Left Cash Rate Unchanged but Hinted To Ease Further
As widely anticipated, RBA left the cash rate unchanged at 0.75% in December. The central bank was cautiously optimistic about domestic economic development. While seeing turning points on the economic in general and the housing market in particular, the members...
FOMC Minutes Revealed that Most Members Saw Current Rate Level as Appropriate
The FOMC minutes for the October meeting revealed that most members judged that the monetary easing was enough to support growth. However, they continued to see downside to the economic outlook. In October, the members voted to cut the Fed...
RBA Minutes: Members Considered Rate Cut This Month. Disappointing Job Report Raises the Case for Further Easing
RBA’s minutes for the November meeting sent a more dovish tone than expected. At the Statement of Monetary Policy, the members noted that “the Board was mindful that rates were already very low and that each further cut brings closer...