Brazil Real's depreciation to test BCB stance irrespective of near-term rate decision
Sep 01, 2015 16:32 pm UTC| Commentary Central Banks
The BCB is set to raise the Selic rate by another 25bp at its September Copom meeting and then to go on hold. The immediate downside risk, going by the July Copom statement, is that it has already concluded the tightening...
Sep 01, 2015 15:23 pm UTC| Commentary Central Banks
Recent developments in China and some of the broader EM regions are likely to feature heavily in the discussions of the ECB Governing Council this week. A significant downward revision in the ECB staff projections for...
Central banks in action of regulating currencies, why not Fed?
Sep 01, 2015 13:22 pm UTC| Commentary Central Banks
We have been arguing that normalization of monetary policies will be driving markets for years to come. We expect the Fed to lead the way. Other G10 central banks are likely to continue moving to the opposite direction for...
Sep 01, 2015 06:48 am UTC| Commentary Central Banks
The RBA was not expected to change its key rate today, and it didnt. It is not a non-event. What was decisive was how prominent a position RBA governor Glenn Stevens would give to the developments in China in his...
Bank of Indonesia to be on hold through 2015
Sep 01, 2015 06:40 am UTC| Commentary Central Banks
In response to the recent rise in currency volatility, Bank of Indonesia (BI)indicated at its August meeting that it would continue to ensure orderly market conditions through market intervention and, if needed, deploy...
ECB unlikely to change its bank rate
Sep 01, 2015 06:19 am UTC| Commentary Central Banks
Euro area core rate (ex food, energy, alcohol, tobacco) remained at 1% y/y and headline inflation rate remained at 0.2% y/y in August, according to the flash estimate, despite the steep drop in oil prices. All in all,...
It is likely to get harder for BOJ to maintain QQE
Sep 01, 2015 05:24 am UTC| Commentary Central Banks
Although demand for defensive assets is rising due to a global equity rout brought by the decline in Chinese stocks and sudden devaluation of the CNY, the JGB market is relatively stable at this point. It is because JGBs...
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