Tagged: BOE

Who are you going to believe?

Compare and contrast –

Last night’s Fed Minutes from the Jan 27-28 meeting:

‘Many participants indicated that their assessment of the balance of risks associated with the timing of the beginning of policy normalization had inclined them toward keeping the federal funds rate at its effective lower bound for a longer time.’

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Oops they did it again…

Never let it be said that central banks are making up policy on the hoof… Here is a report this weekend from a Swiss newspaper that the SNB have a new plan for the Swiss Franc:

the paper said the SNB was operating “

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All change please, all change

Canada’s surprise 25bp interest rate cut yesterday is significant. Not just because it had a big impact on the markets, but also because it shows the shift that is taking place since OPEC’s decision not to increase production at the end of November.

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Rates on hold forever

And so the worm has turned… even the hawks at the BOE have thrown in the towel with the “risk of low inflation becoming more persistent”, leading to a unanimous 9-0 vote to do nothing with interest rates.

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