Australia™s central bank kept interest rates unchanged as it waits for three cuts since June to flow through to areas of the economy beyond the property market. Reserve Bank Governor Philip Lowe and his board kept the cash rate at 0.75% Tuesday, in line with expectations of economists and money markets. He will want to hold onto his remaining conventional ammunition -- estimated at two more cuts -- and monitor the impact of earlier easing and recent government tax rebates. The RBA™s final meeting of the year sees policy makers no closer to reviving wages growth and...
Following its 2-day meeting, the Federal Open Market Committee announced that it lowered the benchmark interest rate by 25 basis points to the target range of 2% - 2.25% in a widely expected decision. Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, is scheduled to deliver his comments on the monetary policy in a press conference at 18:30 GMT. With the initial reaction, the US Dollar Index gained traction and rose to its highest level since May 23 at 98.32. "In light of the implications of global developments for the economic outlook as well as muted inflation...
Bank of Japan maintains 10-year JGB yield target at about zero percent after ending a two-day meeting on Tuesday. Keeps policy balance rate at -0.1%. Central bank leaves forward guidance and asset purchases unchanged. About 81% of 47 economists surveyed by Bloomberg saw the BOJ sticking with its current policy settings at this meeting, while 19% had predicted additional easing. Source : Bloomberg
The European Central Bank on Thursday made clear it stands ready to cut rates and deliver "highly accommodative" monetary policy, including additional asset purchases, in its effort to push stubbornly low inflation back toward its target amid signs of deteriorating economic conditions in the eurozone. However, investors appeared to take the statement and subsequent remarks by European Central Bank President Mario Draghi with a grain of salt, lamenting a lack of clear-cut details of policy plans. The euro initially dived following the statement, while European bonds rallied, pushing down...
At its monetary policy meeting held today, 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 -0.40%, respectively. Attention now turns to ECB President Mario Draghi's press conference at 12:30 GMT. With the initial market reaction, the shared currency gathered strength against its peers and was seen trading at 1.1155 against the USD, rising 0.12% on the day. Below are some key takeaways, via Reuters, from...
Australias central bank chief Philip Lowe said hes ready to ease policy further if his recent back-to-back cuts fail to revive economic growth and flagged œan extended period of low interest rates. Lowe said in the text of a speech in Sydney Thursday that it could turn out that a combination of the consecutive rate reductions, tax cuts, higher commodity prices, a stabilizing housing market and infrastructure investment spur the economy and lift inflation. œBut if demand growth is not sufficient, the board is prepared to provide additional support...
Bank of England Governor Mark Carney said on Monday that the possibility of Britain leaving the European Union next month without a transition deal ranked as the riskiest Brexit scenario for the...
Bank of Japan maintains 10-year JGB yield target at about zero percent after ending a two-day meeting on Tuesday.
Keeps policy balance rate at -0.1%.
Central bank leaves forward guidance and asset...