Event risks could keep the Fed on hold next week

Sep 13, 2015 08:12 am UTC| Commentary Central Banks

Event risks on the calendar have much more to do with the decision than fundamentals and market volatility, according to Scotiabank. Below are some major event risks that are more likely to carry the day over discussions...

Bank of Korea turns cautious

Sep 13, 2015 06:56 am UTC| Commentary Central Banks

The Bank of Korea held the policy rate at 1.5% in September, as expected. The decision was unanimous, an indication that the MPC members may be inclined to adopt a wait-and-see attitude ahead of the Feds FOMC decision on...

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....