Central Bank Watch – Week Ahead Focus on Post Fed Follow Through and BoJ Monetary Policy

In the past week it was a central bank overload with over a dozen central banks including FOMC, BoK, BCB, BoE, ECB, SNB & Norges Bank Policy Announcements. The Fed was the lone major central bank with speculation on rate cuts this week which sent the bond and stock markets on fire, with the Dow hitting an all-time high Wednesday. The ECB and BoE pushed back while others offered mixed perspectives including Norges Bank’s surprise hike. More central Bank action … Continue reading “Central Bank Watch – Week Ahead Focus on Post Fed Follow Through and BoJ Monetary Policy”

Aggressive Brazil Central Bank Cut Rates 50bps Fourth Time in a Row to 11.75%

Banco Central do Brasil​ cut the Selic rate 50bps to 11.75% at its December meeting in line with market expectations. It was the fourth half a percentage point cut in a row and signaled it will keep the same pace of monetary easing at least through 2024. Policymakers led by Roberto Campos Neto have now reduced borrowing costs by 2 percentage points since August. Brazil’s central bank repeated forward guidance that says, “If the scenario evolves as expected, the Committee … Continue reading “Aggressive Brazil Central Bank Cut Rates 50bps Fourth Time in a Row to 11.75%”

Central Bank Watch – Week Ahead Focus on FOMC, BoE, ECB, SNB & PBoC Monetary Policy

We finish off the year with a plethora of over a dozen Central Banks monetary policy decisions with many on the precipice of preparing to cut rates. Decisions by the Bank of Canada, Reserve Bank of Australia, Poland’s central bank and the Reserve Bank of India who went as expected the past week. The Fed was in its blackout period until the next FOMC. That’s about to change this we get the FOMC, ECB, BoE, PBOC, SNB, Banxico, Norges Bank’s, … Continue reading “Central Bank Watch – Week Ahead Focus on FOMC, BoE, ECB, SNB & PBoC Monetary Policy”

Central Bank Watch – Week Ahead Focus on Canada, Australia and India Monetary Policy

In the week ahead decisions by the Bank of Canada, Reserve Bank of Australia, Poland’s central bank and the Reserve Bank of India who are all expected to hold. We also get inflation surveys from the ECB and BoE will be among the key highlights. Last week four central the RBNZ, BoT, BoK and Israel all acted as expected. ECB President Lagarde and Fed Chair Powell both emphasized caution on rates peaks and cuts, though the bond and stock markets … Continue reading “Central Bank Watch – Week Ahead Focus on Canada, Australia and India Monetary Policy”

Central Bank Watch – Week Ahead Focus on Lagarde, Israel, New Zealand, Thailand and Korea Central Banks

In the week ahead four central banks are expected to hold, RBNZ, BoT, BoK and Israel. We also get no less than four speeches from ECB President Lagarde and one from Fed Chair Powell. Bankers were busy last week with Riksbank, Bank Indonesia, SARB, and Iceland sat pat as expected. Turkey’s central bank delivered a much larger hike pushing rates to 40%. Chinese banks left LPRs unchanged. Hungary as expected cut again. Data wise there is plenty for rate watchers, … Continue reading “Central Bank Watch – Week Ahead Focus on Lagarde, Israel, New Zealand, Thailand and Korea Central Banks”

Central Bank Watch – Week Ahead Focus on RBA, ECB and FOMC Minutes, Riksbank, Indonesia and Turkey Likely Hikes

A quiet week as expected for central bank watchers as far as monetary policy decisions went with the only rate decision from Bangko Sentral ng Pilipinas (BSP) with no change. The slew of Fed, ECB and BOE speakers mentioned nothing surprising, just the usual doublespeak. In the week ahead we have more activity, BoC’s Macklem to speak on inflation’s costs, we get FOMC, Banxico, ECB and RBA minutes. Riksbank, Bank Indonesia and Turkey’s central bank may hike again. Chinese banks … Continue reading “Central Bank Watch – Week Ahead Focus on RBA, ECB and FOMC Minutes, Riksbank, Indonesia and Turkey Likely Hikes”

Central Bank Watch – Week Ahead Focus on Overload of Fed, ECB and BoE Speeches

The past week went as expected for central bank watchers as far as monetary policy decisions went, however Fed Chair Powell in his speech at the IMF shook the market up with regards to higher rates. The RBA hiked, Banxico held, Peru as expected cut rates. Poland’s central bank unexpectedly halted its easing cycle. Data risk is focused on global inflation and inflation expectations. In the week ahead eyes will be on what looks like an overload of Fed. BoE … Continue reading “Central Bank Watch – Week Ahead Focus on Overload of Fed, ECB and BoE Speeches”

Central Bank Watch – Week Ahead Focus on RBA and Powell Again

The week ahead will be a much lighter for central bank watchers but there still plenty of interest. The RBA is being pressured to hike, two LatAm central banks may hold (Banxico) and cut (Peru). National Bank of Poland is expected to cut rates. We’ll hear from Fed Chair Powell again, with a slew of Fed speakers. Data risk is focused on global inflation and inflation expectations. Central Banks delivered for the most part as expected last week. The FOMC, … Continue reading “Central Bank Watch – Week Ahead Focus on RBA and Powell Again”

Brazil Central Bank Deliver Third 50bps Rate Cut in a Row to 12.25%

Banco Central do Brasil​ cut the Selic rate 50bps to 12.25% at its November meeting in line with market expectations. It was the third half a percentage point cut in a row and signaled it will keep the same pace of monetary easing at least through year’s end. Brazil’s central bank repeated forward guidance that says “If the scenario evolves as expected, the Committee members unanimously anticipate further reductions of the same magnitude in the next meetings….” The move follows … Continue reading “Brazil Central Bank Deliver Third 50bps Rate Cut in a Row to 12.25%”

Central Bank Watch – Week Ahead FOMC, BoJ, BoE, BoC, Norges, BanRep, Brazil, Bank Negara

Another busy week ahead for central bank watchers. The FOMC is expected to stay on hold amid upside risks to inflation. We have the BoJ with an eye on policy tweaks, the BoE is expected to hold as the macro environment sours. In Canada the BoC’s Macklem has two speeches to give. The Norges Bank and BanRep are expected to pause, and Brazil’s central bank is likely to cut again. Bank Negara is playing defense on ringgit weakness. The Treasury … Continue reading “Central Bank Watch – Week Ahead FOMC, BoJ, BoE, BoC, Norges, BanRep, Brazil, Bank Negara”