Central Banks

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The Bank of Canada announced that is was holding rates steady at 1.0% after its monetary policy meeting Wednesday. Though expected there had been concerns of hawkish language after last week's strong jobs report in Canada. The Canadian dollar fell in relief after the report.

Central Bankers have a great way of avoiding when they are wrong, what is scary is how quick they jump on when they percieve they are right. This gem from Bank of Canada Senior Deputy Governor Carolyn Wilkins, "we started to raise rates at exactly the right time."

Bank of Japan board member Hitoshi Suzuki signaled in interviews that the BOJ may raise interest rates before inflation hits its 2% target. He also said the BOJ could slow or change the way it buys exchange-traded funds (ETF) purchases in the future.

Reserve Bank of Australia Governor Phiilp Lowe speaking at the annual dinner of the Australian Business Economists says the likely next move in interest rates is up rather than down with no strong case for a near-term change in interest rates.

The Reserve Bank of Australia has kept its cash rate on hold at a record low of 1.5%.

Donald Trump names Jerome Powell as the Federal Reserve Chairman

The Bank of England increased the Bank rate by 25 basis points to 0.50% in line with expectations.

Federal Open Market Committee (FOMC) left the Fed funds rate in the range of 1.00% to 1.25%.

BOJ left its monetary stimulus program unchanged even as it trimmed its inflation forecasts.

The White House confirmed earlier that on Thursday the new Federal Reserve Chair will be announced. The strong mail is that President Trump will nominate Jerome H. Powell.

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