Low underlying inflation in Australia

Oct 26, 2015 06:15 am UTC| Commentary Central Banks

In Australia, the Q3 CPI is the main data release due before the RBA board meets on 3 November, with the RBA staff publishing updated economic forecasts in the Statement on Monetary Policy on 5 November. The CPI will...

RBNZ likely to pause in cutting rates

Oct 26, 2015 06:13 am UTC| Commentary Central Banks

The RBNZ has cut rates three times in a row and it is likely to take some time to gauge the impact of those earlier easings, particularly when average underlying inflation has broadly stabilized with one RBNZ measure...

ECB's policy accomodation likely to weigh on SNB

Oct 26, 2015 06:11 am UTC| Commentary Central Banks

More policy accommodation by the ECB in the coming months will likely add pressure to the SNB and increase market speculation regarding further policy measures. Indeed the SNB is likely to step up FX purchases should the...

Copom minutes to show BCB’s assessment of medium term inflation risk

Oct 26, 2015 06:09 am UTC| Commentary Central Banks

The BCBs decision to leave rate unchanged was widely expected, including by us. The bank added a sentence to its short statement (The Copom emphasizes that monetary policy will remain vigilant to achieve this goal) that...

ECB tilts the odds towards additional Riksbank easing by year-end

Oct 26, 2015 06:05 am UTC| Commentary Central Banks

ECBs policy meeting last week has important ramifications for future Riksbank policy. Given the expectations for a time-extension of ECB QE, followed by a likely deposit rate cut in 2016, now there is an increased...

BoJ's expansion of QQE program likely in this week

Oct 26, 2015 04:59 am UTC| Commentary Central Banks

The BoJ is likely a bigger focus this week as disappointing economic data and weak corporate inflation outlook led to market expectations for further easing at this weeks meeting. Indeed, an expansion of QQE program via...

ECB pares way for more QE by year-end

Oct 26, 2015 04:35 am UTC| Commentary Central Banks

The ECB surprised markets last week, strongly hinting additional policy stimulus at its December meeting, when the committee updates its economic projections. We continue to think that a time extension of the PSPP program...