Forex News
Economy Watch – Outlook for Borrowers: Post April OCR Review
The RBNZ raised the Official Cash Rate (OCR) by 0.25% at its 24 April meeting. The cash rate now sits at 3.00%, 0.50% above its historic lows, but still some way below what the RBNZ considers to be ‘neutral’ (circa 4.25%).
ECB Coene: Should Move Main Refi, Deposit Rate In Tandem
European Central Bank Governing Council member Luc Coene suggested Thursday that any next move on interest rates would see negative rates on the deposit facility.
Economy Watch – NZD Strength Annoys RBNZ
For now, we will stick with our call that the RBNZ hikes in both June and July. At the time of writing, the market is pricing in an 85% chance of a hike in June and 34 basis points of hikes, cumulatively, over June and July.
France FinMin: Not Trying To Give ECB Advice On Euro
France’s Finance Minister Michel Sapin repeated Wednesday that the strong euro was a problem for his country and the Eurozone but added that the government was not seeking to give advice to the European Central Bank.
IMF Official: Deflation Still A Risk For Euro Area
The International Monetary Fund’s deputy representative to the European Union said Wednesday that interest rates in the euro area are expected to stay low at least until the end of 2016 and
Big Drop in New Home Sales in March
New home sales plunged an unexpected 14.5 percent in March to a 384,000 unit pace, the lowest level in eight months. With the exception of the Northeast, all regions saw double-digit declines.
BOJ Kuroda: Japan on Track Toward 2% CPI, No Change to Outlook
A week before the Bank of Japan’s policy meeting, BOJ Governor Haruhiko Kuroda on Wednesday said in his parliamentary testimony that the economy is still on
CPI – QI 2014 – Initial Views
The headline QI CPI rose by 0.6%, a bit below market expectations (market and CBA: +0.8%). The biggest “surprises” inthe data, compared to our forecasts,
Why Does FX Vol Tell US About Recent Moves In Major Currencies
There has been little divergence from the dominating theme of low FX volatility in this benign market environment. Easter holidays across many trading centres have also contributed to relatively low volumes,
ECB Mersch: Continuation of Euro Rise Would Trigger ECB Reaction
A continuation of the appreciation of the euro would force the European Central Bank to take action to maintain monetary accommodation, ECB Executive Board member Yves Mersch said Thursday.
Nothing Untoward From The BoC
The Bank of Canada did what was expected of them – absolutely nothing. Today they held firm, and maintained their overnight rate at +1%, their corresponding bank rate at +1.25% and the deposit rate at +0.75%.
S&P: Fed Likely To Start Raising Interest Rates By Q2 2015
Rating agency Standard & Poor’s expects that the Federal Reserve will begin exiting its very low interest rate policy in the second quarter of next year,