Central Banks

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Federal Reserve Chairman Jerome Powell's testimony on the central bank's semi-annual report on monetary policy and the economy has been brought up a day to Tuesday, Feb. 27 before the U.S. House of Representatives’ Financial Services Committee, no reason has been given. 

The Bank of England voted unanimously to maintain Bank Rate at 0.50%. The committee also voted unanimously to maintain the stock of corporate bond purchases and UK government bond purchases.

Reserve Bank of Australia leaves the cash rate unchanged at 1.50 per cent.

No surprises from the Federal Reserve Wednesday the FOMC Left Interest Rates Unchanged as expected in the 1.25% -1.50% range and announced the taper continuance. The Fed  began to unwind the $4.5 trillion balance sheet in October. 

The Federal Reserve meets on Wednesday for the last time with Janet Yellen as chair before Jerome Powell takes charge, Markets have priced in negligible odds of rate hike next week. The Fed appears irrelevant in the current stock mania.

The Bank of Canada raised its key lending rate by a quarter percentage point to 1.25 percent on Wednesday.

Minneapolis Fed President Neel Kashkari speaking in a question and answer session took on the banks being too big to fail and capital requirements for America's biggest banks should be doubled.

The Bank of Japan announced it is cutting back the purchase of Japanese Government Bonds (JGB). The BOJ had announced it is targeting the yield curve so should not be unexpected.

Federal Reserve and FDIC say they found shortcomings in plans from Bank of America, Goldman Sachs, Morgan Stanley and Wells Fargo 

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

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