Bobbys Corner-FOMC-Nov.4.2009
November 4, 2009 by Bob Slade · Leave a Comment
Hello All,
As expected the Fed kept interest rates unchanged at .25%
We are looking at the FOMC statement to decipher any changes regarding the timing of any future interest rate decisions.
Bank of England Holds Interest Rates At 0.50% as Forecast
June 4, 2009 by Danish FX · Leave a Comment
BOE: MAINTAINS QE UNCHANGED AT £125B
- Asset purchases to be completed in 2 months
Reserve Bank of Australia’s Holds Interest Rates As Expected
June 2, 2009 by Danish FX · Leave a Comment
The RBA has held Interest Rates at 3.00% as forecast.
RBA: Sees scope remain for further easing if needed
- Australian economy has been shrinking, growth in labor costs starting to decline
- Inflation to continue to recede in next 2 years
- Fiscal measures are producing considerable support for demand
- Full impact of recent easing yet to be felt
- Sees stronger dwelling activity later in the year
- Board to continue to monitor the economy and financial conditions
The RBA Holds Rates as Expected
May 5, 2009 by Danish FX · Leave a Comment
RBA LEAVES CASH RATE UNCHANGED AT 3.00%; AS EXPECTED
- Monetary policy has been eased significantly
- Full effect of past easing have yet to be felt
- Inflation is softening but at a gradual pace
- Capacity Utilization will decline further
The Bank of England Holds Interest Rates as Expected
April 9, 2009 by Danish FX · Leave a Comment
BOE LEAVES BANK RATE UNCHANGED AT 0.50% - AS EXPECTED, CONTINUES WITH £75B ASSET PURCHASE FACILITY
Bank of Japan Leaves Rates Unchanged
April 7, 2009 by Danish FX · Leave a Comment
BOJ LEAVES RATES UNCHANGED AT 0.10% (AS EXPECTED); Decision was unanimous; Will expand range of eligible collateral for loans on deeds to government loans within 10yr maturity
- Expects further weakening in domestic private demand
- Expects pace of decline in output and exports to moderate
- Expects economic recovery in late FY09
- Uncertainty over economic outlook remains high
- Need to watch downside risks of inflationary expectations
BOJ Leaves Rates Unchanged as Forecast
March 18, 2009 by Danish FX · Leave a Comment
BOJ LEAVES RATES UNCHANGED AT 0.10% (AS EXPECTED); Decision Unanimous
- Keeps economy assessment unchanged; Says economy is likely to continue deteriorating in the near term; overseas economies continue to worsen
- Financial conditions remain severe despite improvement
- Recovery is still expected late in 2009, but uncertainty over outlook remains high
- Must monitor downward inflation expectation risks
- Plans to buy ¥7.44T of JGBs maturing within a year
Bank of England Cuts Rates 50 Basis Points As Expected
March 5, 2009 by Danish FX · Leave a Comment
The Bank of England has cut Interest Rates by 50 BPS as expected to 0.50% from the previous 1.00%.
In addition, the BOE Announces a £75B Asset Purchase Program.
- Likely majority of assets to be purchased will be Gilts
- Will purchase medium and long term gilts in secondary market
- To finance purchases by issuing central bank reserves
- Operation to last for 3 months
- Still sees substantial risk of undershooting CPI target
- Chancellor Darling sets upper limit on program at £150B
***The GBP initially firmed up but quickly continued to soften up, falling to further session lows.
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