Central Banks

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The Bank of Canada held its key lending rate at 1.75 percent on Wednesday as expected. The BoC said escalating trade conflict casts doubt on global outlook and Oil sector beginning to recover.

Mario Draghi’s successor as European Central Bank President on Oct. 31 is a process steeped in secrecy. Favorites include Bank of Finland chief Olli Rehn, his predecessor Erkki Liikanen, Estonian Ardo Hansson, France's Benoit Coeure & Francois Villeroy de Galhau and Bundesbank chief Jens Weidmann. 

The Reserve Bank of Australia (RBA) as expected kept interest rates on hold at the historic low of 1.5 per cent for the 33rd consecutive meeting in May. Growth in household consumption is affected by the weakness in real household disposable income and adjustment in housing markets.

The Bank of Canada held its key lending rate at 1.75 percent on Wednesday as expected. The BoC said slower global growth, sluggish housing and oil sectors see its GDP projections lower.

ECB interest rates on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged. 

The Reserve Bank of Australia (RBA) as expected kept interest rates on hold at the historic low of 1.5 per cent for the 32nd consecutive meeting in March. Growth in household consumption is affected by the weakness in real household disposable income and adjustment in housing markets.

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.

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