Delay in Fed liftoff has added yet another layer of uncertainty to an already foggy EM outlook

Sep 24, 2015 17:21 pm UTC| Commentary Central Banks

The Feds decision to delay liftoff supports our view EM rates will remain low for some time. Oil prices have dropped 22% since early July, and although commodities have been stable in September, the cumulative loss amounts...

BOC rate cut bet rises after Norges Bank surprises with rate cut

Sep 24, 2015 15:39 pm UTC| Insights & Views Central Banks

Norways Norges bank surprised markets today with a rate cut of 25 basis points, pushing Krone lower against almost all currencies. Krone is currently trading at against Dollar, down % for the day so far. Norways actions...

Path of ECB policy a likely worry for SNB

Sep 24, 2015 11:13 am UTC| Insights & Views Central Banks

The Swiss National Bank delivered its monetary policy announcement on Sept 17th, where it left the policy mix unchanged as broadly expected, in an effort to rein in the Swiss franc, which it said remained significantly...

Taiwan CBC likely to keep benchmark rates unchanged

Sep 24, 2015 11:02 am UTC| Commentary Central Banks

In todays statement, the CBC pointed out that with inflation in negative territory, real interest rates in Taiwan were still relatively high, an indication to us that the bank can still ease (towards the post-Lehman low of...

Norges Bank cut its rate, this is not likely to be the last

Sep 24, 2015 10:30 am UTC| Commentary Central Banks

NOK weakened significantly on todays decision and is already much weaker than Norges Banks Q4 forecast for import weighted NOK (I-44). Norges Banks forecast is 104,5 and currently I-44 is 107,6. This strengthens the case...

China's FX intervention unlikely to sustain

Sep 24, 2015 09:22 am UTC| Commentary Central Banks

The Chinese authorities may have bought some time by implementing macroprudential measures to make it more costly and difficult for domestic entities to buy USD, but the efficacy of such measures will likely fade over time...

RBI does everything to glitter INR but pressurized from external macros

Sep 24, 2015 08:50 am UTC| Insights & Views Central Banks

The Indian rupee has been relatively insulated from external pressures from US monetary policy and China. A narrowing in Indias current account deficit from 2013 levels, lower crude oil prices (India is heavily reliant on...