November jobs report gives Yellen green light

Dec 04, 2015 18:03 pm UTC| Commentary Central Banks

Todays jobs report was the last key release ahead of the FOMC meeting on 15-16 December and should make the Fed feel comfortable about raising the Federal funds rate target for the first time since 2006. The November...

November US employment report checks all the boxes and looks to be more than "good enough" for Fed

Dec 04, 2015 15:14 pm UTC| Commentary Central Banks

Non-farm payrolls increased by 211k in November, above expectations for a 200k gain. Revisions to the previous two months added 35k to the tally, with Octobers print nearing a cool 300k as a result. Private payrolls...

Norges Bank likely to revise Q4 growth forecasts down

Dec 04, 2015 12:04 pm UTC| Commentary Central Banks

Norges Bank might revise the Q4 growth forecast slightly down and possibly take into consideration to reduce its wage forecasts of 2016 as well. Still, we stick to our forecast for unchanged rates in December. NOK is on...

ECB’s Constancio blames market expectations, hails ECB communication

Dec 04, 2015 11:56 am UTC| Commentary Central Banks

While traders, investors and analysts are blaming European Central Banks (ECB) communications over its intention, after the bank fell well short of market expectations, resulting in seventh biggest Euro move since its...

RBI may achieve below 5 pct inflation target by 2017

Dec 04, 2015 10:03 am UTC| Commentary Central Banks

The Reserve Bank of India kept its repo rate unchanged at 6.75 in its fifth Bi-Monthly Monetary Policy review meting. Cash Reserve Ratio (CRR) was held unchanged at 4 percent and Marginal Standing Facility (MSF) rate and...

Currency War Series

ECB’s another rate cut likely in March

Dec 04, 2015 10:00 am UTC| Commentary Central Banks

The ECB declared a deposit rate cut of 10 base points to -0.3% and kept all other rates unchanged. The Bank extended its asset purchase program for further 6 month and decided to reinvest the principal payments on the...

Key takeaways from ECB actions

Dec 04, 2015 09:50 am UTC| Commentary Central Banks

ECBs punitive actions yesterday, to just reduce rates by 10 basis points and six months extension baffled market participants and analysts (including us), all around globe, leading to massive short covering in Euro, which...