Central Banks

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The Bank of England nbsp;voted 9 to 0 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.

The Swiss National Bank kept negative interest rates unchanged at -0.75% for sight deposits. The SNB announced Weaker inflation forecasts matching moves by the ECB. Shows a long way from normalising policy and linked to the ECB actions.

The Federal Reserve as expected kept rates  at 2.15 -.50% as expected after a two day meeting on Wednesday with Jerome Powell as Chairman. Markets had priced in a 0% chance of No hike. Says Labor market remains strong and Inflation has declined largely due to energy

ECB interest rates on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged. Surprises by changing forward guidance on interest rate new TLTROs.

The Bank of Canada held its key lending rate at 1.75 percent on Wednesday as expected. The BoC said rate hikes depend on oil and housing outlooks evolve, taking out the explicit hiking tone.

The Reserve Bank of Australia (RBA) as expected kept interest rates on hold at the historic low of 1.5 per cent for the 30th consecutive meeting in February. Household consumption remains a source of uncertainty. Low rates seen supporting economy.

ECB interest rates on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged. Rates to be unchanged Through Summer 2019. 

The Bank of Canada held its key lending rate at 1.75 percent on Wednesday as expected. The BoC said drop in oil prices having a 'material' effect on outlook adding pace of BOC hikes depends on oil and housing outlooks evolve

Federal Reserve Chairman Jerome Powell spoke in a moderated roundtable discussion at the American Economics Association meeting in Atlanta with predecessors Janet Yellen and Ben Bernanke in a decidely more dovish rhetoric and risk aware tone.

The Federal Reserve as expected raised rates to 2.15 -.50% as expected after a two day meeting on Wednesday with Jerome Powell as Chairman. Markets had priced in a 75% chance of a 25bp hike. 

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