Mixed data and wary BoE

Sep 12, 2015 09:29 am UTC| Commentary Central Banks

UK industrial production fell for the second consecutive month (-0.4% m/m, 0.8% y/y in July after -0.4% m/m, 1.5% y/y in June), while manufacturing registered a significant downward surprise (-0.8% m/m, -0.5% y/y in July...

Russia's CBR rate decision: cautiously dovish

Sep 11, 2015 17:27 pm UTC| Commentary Central Banks

Russias central bank kept its key rate unchanged today (11 September) at 11.0% as we and consensus expected. The main reasons given by the central bank to hold rates were higher inflation risks amid persistent risks of...

Fed's decision on a knife edge

Sep 11, 2015 16:53 pm UTC| Commentary Central Banks

The outcome of Thursdays US monetary policy meeting looks to be on a knife edge, with strong arguments for both raising interest rates and leaving them unchanged. If the Fed does move it would be a momentous decision,...

Russia's CBR holds, adopts more hawkish outlook

Sep 11, 2015 15:12 pm UTC| Commentary Central Banks

The Bank of Russia (CBR) decided to hold its key rate at 11.0% and kept all other rates unchanged, in line with forecast and consensus. The statement was considerably more hawkish than in July when the CBR cut its key rate...

Rationale behind 'no Fed hike' in September and growth-inflation projections for 2016

Sep 11, 2015 09:33 am UTC| Commentary Central Banks

On U.S. Job market: On the labor market front, the unemployment rate has fallen sharply and at 5.1% is already through the Feds YE 15 forecast. At the same time, however, there has been no uptick in wage growth this year....

BoE's inflation expectations to soften

Sep 11, 2015 06:32 am UTC| Commentary Central Banks

The Bank of Englands quarterly survey of inflation expectations asks householders for their expectations at the 1, 2 and 5 year horizons. The Banks belief is that the 5-year expectation is a good measure of the credibility...

Areas of change in BoK September Statement from August

Sep 11, 2015 05:21 am UTC| Commentary Central Banks

The BoK downgraded its external assumptions and acknowledged that the global economy will recover at a slower pace than its August assessment: the global economy will maintain its recovery going forward, albeit at a...