Monday, 06 July 2020
New York
Friday, 26 June 2020 15:19 WIB

European Central Bank (ECB) President Christine Lagarde, while presenting at an Online Summit organised by the European Business Leaders' Convention, said that we probably have passed the lowest point of the crisis. Additional quotes: Still cautious because of the second wave of infections. Economic recovery will be a complicated matter. Recovery will be incomplete, maybe transformational. We have to use all available policy levers on monetary and fiscal front. This crisis is worse than the 2008-09 financial crisis. The ECB mandate is the same i.e. focus on price stability. The comments...

BOJ Doubles ETF Target But Holds Key Rate Steady After Fed Cut
Monday, 16 March 2020 13:09 WIB | Bank of Japan BOJ

The Bank of Japan strengthened stimulus but stopped short of cutting its negative interest rate at an early meeting Monday after the Federal Reserve slashed its own rates to address rapidly mounting shocks from the coronavirus. The BOJ doubled its target for net purchases of exchange-traded funds to 12 trillion yen ($112 billion). Even before the Fed took action, most economists had predicted the bank would raise the ETF buying target, although the number is likely to be a surprise. The bank also introduced a new lending program to help businesses hit by the pandemic. Before the...

Federal Reserve Powell Explains Rate Cut To 0%
Monday, 16 March 2020 07:34 WIB | Federal Reserve

Jerome Powell, Chairman of the Federal Reserve, explains the second surprise interest rate cut as markets open in Asia. The move came amid the coronavirus crisis. Apart from the cut, the Fed also injected liquidity. He explains that the disease will take an economic toll. The economy came into the crisis on a strong footing. Source : FX Street

ECB leaves interest rates unchanged in March as expected, announces additional LTRO
Thursday, 12 March 2020 20:17 WIB | ECB

At its monetary policy meeting held on March 12th, the Governing Council of the European Central Bank (ECB) decided to leave the interest rates on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility unchanged at 0.00%, 0.25% and -0.50%, respectively, as expected. Attention now turns to ECB President Christine Lagarde's first press conference at 13:30 GMT. With the initial reaction, the EUR/USD pair gained traction and was last seen trading at 1.1260, adding 0.15% on the day. Source : FXstreet

GBP/USD Tumbles as BOE Surprises with 50bp Cut to 0.25% Ahead of UK Budget
Wednesday, 11 March 2020 14:28 WIB | GBP/USD Mark Carney, BOE

The Bank of England has announced a surprise 50 basis point rate cut from 0.75% to 0.25%. Both outgoing Governor Mark Carney and his successor Andrew Bailey had previously said that they are ready to act in face of the coronavirus crisis. While the move is not a total surprise, but the timing “ outside a scheduled meeting “ is responsible for the sharp move in sterling. Moreover, the BOE's new rate of 0.25% puts its at the post-Brexit low, exhausting the "Old Lady's" firepower. The BOE also announces a new SME worth £100 billion “ a lending scheme to businesses. The Monetary Policy...

Fed Cuts Interest Rates By Half Percentage Point In Rare Inter-Meeting Move
Wednesday, 4 March 2020 00:13 WIB | The Fed Federal Reserve

The Federal Reserve, in a rare inter-meeting move, on Tuesday cut its benchmark interest rate to counter the threat to the economy from the coronavirus epidemic. In a statement, the Fed said it cut its fed funds target rate by a half percentage point to a range of 1%-1.25%. œThe fundamentals of the U.S. economy remain strong. However, the coronavirus poses evolving risks to economic activity, the statement said. At a press conference later, Fed Chairman Jerome Powell said officials saw the virus spreading and this represented a material change in the outlook for economic...

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Fed's Powell: 'Medical Metrics' Most Important Data for U.S. Economy Now: CBS
Monday, 18 May 2020 08:06 WIB

The most important data for the U.S. economy right now are the "medical metrics around the coronavirus pandemic, Federal Reserve Chairman Jerome Powell said Sunday night in broadcast remarks...

RBA cuts Official Cash Rate by 25 bps to 0.50%, AUD/USD jumps
Tuesday, 3 March 2020 10:38 WIB

At its March monetary policy meeting on Tuesday, the Reserve Bank of Australia (RBA) cut its official cash rate (OCR) by 25bps to a record low of 0.50%, as they weighed in the coronavirus outbreak...