COPOM : Currency selloff not significant enough to keep hiking

Sep 03, 2015 02:00 am UTC| Commentary Central Banks

Today, the Copom decided to keep the Selic rate at 14.25%, pausing the hiking cycle that it resumed in October 2014 in a unanimous decision, as consensus expected. In the post-decision statement, the board kept the same...

ECB to hold meeting tonight

Sep 02, 2015 21:50 pm UTC| Commentary Central Banks

The ECB meets tonight after an eventful summer with turmoil in EM, collapsing inflation expectations and continued uncertainty in Greece. Last week, Praet warned that developments in the world economy and in commodity...

National Bank of Poland meeting a non event

Sep 02, 2015 06:56 am UTC| Commentary Central Banks

Todays Poland MPC meeting will be a non-event as far as market participants are concerned. NBP already stated that they are at the end of their rate cutting cycle, so the main focus will be upon if and when rates are...

A monetary easing bias remains in place in New Zealand

Sep 01, 2015 23:42 pm UTC| Commentary Central Banks

The Reserve Bank of New Zealand (RBNZ) reduced the benchmark overnight cash rate by 25 basis points (bps) in July following an equivalent cut in June, taking the key rate to 3.00%. Inflationary pressures remain weak, with...

Brazil Real's depreciation to test BCB stance irrespective of near-term rate decision

Sep 01, 2015 16:32 pm UTC| Commentary Central Banks

The BCB is set to raise the Selic rate by another 25bp at its September Copom meeting and then to go on hold. The immediate downside risk, going by the July Copom statement, is that it has already concluded the tightening...

ECB between hope and fear

Sep 01, 2015 15:23 pm UTC| Commentary Central Banks

Recent developments in China and some of the broader EM regions are likely to feature heavily in the discussions of the ECB Governing Council this week. A significant downward revision in the ECB staff projections for...

Central banks in action of regulating currencies, why not Fed?

Sep 01, 2015 13:22 pm UTC| Commentary Central Banks

We have been arguing that normalization of monetary policies will be driving markets for years to come. We expect the Fed to lead the way. Other G10 central banks are likely to continue moving to the opposite direction for...