ECB relieved by recent Greek developments, but still cautious

Jul 16, 2015 20:36 pm UTC| Commentary Central Banks

As expected, the ECB meeting focused on the fall-out from Greece. President Draghi announced the decision to raise ELA funding by 0.9bn for one week (reportedly said at 89.9bn) and said he was sure both the ECB and the IMF...

China helps ECB with dovish bias

Jul 15, 2015 21:07 pm UTC| Commentary Central Banks

At the moment, the ECB would use any argument to support its dovish message. Slower Chinese demand and resulting lower commodity prices are nice anti-tapering elements that should help tame the hawkish side of the Council....

ECB stand ready to limit sustained contagion risks

Jul 15, 2015 20:57 pm UTC| Commentary Central Banks

The ECB are more likely to be reactive rather than proactive in response to the Greek crisis. Should a negative scenario materialize in Greece before the meeting, Thursdays focus will be on how the ECB will react to limit...

Bank of Canada Cuts Rates 25 bps...Canadian Dollar Plunges

Jul 15, 2015 17:03 pm UTC| Commentary Central Banks

The Bank of Canada cut its overnight rate target by 25 basis points to an historically low 0.5 percent today. The loonie immediately plunged to 77.5 cents U.S., down a full cent. The disparity between monetary policy in...

Japan's wage and price data to remain key for BOJ's monetary policy

Jul 15, 2015 03:54 am UTC| Commentary Central Banks

Considering that there are signs of wage growth even at smaller firms in Japan, as defined in the Ministry of Health, Labor and Welfares Monthly Labor Survey, a rise in wages and prices for services starting this summer...

Fed, higher “dots" more likely?

Jul 15, 2015 03:34 am UTC| Commentary Central Banks

The hurdle for Fed moving NAIRU further down is quite high. Pushing it below 5% would require solid justification, based on more than guesswork about future shifts in the Beveridge curve. What if the unemployment rate...

BOJ likely to hold policy today

Jul 15, 2015 02:23 am UTC| Insights & Views Central Banks

Bank of Japan (BOJ) will announce its monetary policy decisions tomorrow sometime in early Asian hours. Speech by Governor Kuroda is scheduled at 3:00 GMT. Current monetary policy - BOJ is holding policy rates...