Central Banks

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The Bank of England voted 7 to 2 to maintain Base Rate at 0.75%. The asset purchase target of £435 billion with a corporate bond target £10 billion for bond purchases was voted unaminous. Brexit uncertainty overhangs forecasts.

The Federal Reserve as expected cut rates to 2.00 -.25% after a two day meeting on Wednesday with Jerome Powell as Chairman. Markets had priced in a 97% chance of the Change. Says Labor market remains strong with moderate economy.

ECB left rates unchanged as expected after last month cutting deposit facility interest rates 10 bps to .50% and holding steady rates on the main refinancing operations and on the marginal lending facility unchanged. Sees rates at present or lower levels until near inflation goal

Kansas City Federal Reserve President George joins the 'bleeding obvious camp' mulling she is "mindful that rate cuts could increase financial instability which Fed has limited ability to counteract."

Former Bond King Bill Gross commented Tuesday again on 'fake markets' saying the boost from negative interest rate yields may have reached an end, warning that lower rates won't boost stock markets further when he released his first investment outlook, “The Fixx”, since retiring from Janus Henderson this year.

Fed Chairman Powell in his Denver speech likened now to mid 90s modest rate cuts and says that's the 'spirit' of current cuts. He sees no reason why the expansion can't continue and policy actions are providing support for the outlook.

The Reserve Bank of Australia cut interest rates in October. The RBA cut rates to a historic low of  0.75 per cent. RBA was not content with the pace to reduce joblessness and of achieving progress towards it's inflation target

Brazil's central bank Banco Central do Brasil followed the Federal Reserve's 25bp cut with a 50bps cut to record lows in a unanimous decision saying global economic outlook uncertain ands risks of greater slowdown persist.

The Federal Reserve as expected cut rates to 2.00 -.25% after a two day meeting on Wednesday with Jerome Powell as Chairman. Markets had priced in a 67% chance of the Change. Says Labor market remains strong with moderate economy.

ECB cut deposit facility interest rates 10 bps to .50% and leaves rates the main refinancing operations and the interest rates on the marginal lending facility unchanged. Softer than many expected. Announces rate tiering, and reintoduces QE

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