Timeline: The Major Economic Events of 2015

Jan 06, 2:15 pm
Timeline Economic 2015

JANUARY – Euro crashes against the Swiss Franc

JANUARY – Euro crashes against the Swiss Franc

January 15th: SNB shocks the markets by de-pegging the Swiss Franc to the Euro. EURCHF breaks 1.10 floor. Market mayhem on the lack of liquidity. Many brokers big and small go bust overnight while some traders end up being in debt to their brokers. SNB cuts Libor rates from -0.25% to -0.75%; Jan 21st: Bank of Canada cuts rates by 25bps, bringing the BoC Overnight rate from 1.00% to 0.75%. BoC Governor Poloz calls the pre-emptive move as an ‘insurance’ against falling Oil prices. Jan 22nd: ECB meeting announces QE; Jan 25th: Greek parliamentary elections see left-wing SYRIZA come to power on a promise to go tough with its EU negotiators. (Visited 41 times, 2 visits today)Kira VessiariContent Manager at OrbexMore Posts

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FEBRUARY – China’s 5-year-low inflation signifies weak demand

FEBRUARY – China’s 5-year-low inflation signifies weak demand

Feb 3rd: RBA cuts rates by 25bps, bringing the Cash rate from 2.50% to 2.25%; Feb 10th: China inflation falls from 1.50% to 0.80%. Sparks a global risk sentiment. PBoC expected to act with further monetary policy easing; Feb 15th: Greece EU negotiations hit a roadblock, but bailout extended to June 2015. Markets brace for serious threats of a ‘Grexit’. (Visited 19 times, 2 visits today)Kira VessiariContent Manager at OrbexMore Posts

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MARCH – Yuan Drops to Two-Year Low as PBOC Rate Cut Boosts China Stocks

MARCH – Yuan Drops to Two-Year Low as PBOC Rate Cut Boosts China Stocks

March 1st: PBoC Cuts interest rates by 25bps, bringing the interest rates to 5.35%. (Visited 16 times, 2 visits today)Kira VessiariContent Manager at OrbexMore Posts

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APRIL – US Nonfarm payrolls posts lowest numbers, with employment change of only 126k sparks

APRIL – US Nonfarm payrolls posts lowest numbers, with employment change of only 126k sparks

April 3rd: US Nonfarm payrolls posts lowest numbers, with employment change of only 126k sparks concerns of a Fed hike delay. (Visited 11 times, 1 visits today)Kira VessiariContent Manager at OrbexMore Posts

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MAY – Reserve Bank cuts the interest rates in face of weak economy

MAY – Reserve Bank cuts the interest rates in face of weak economy

May 5th: RBA cuts rates by 25bps bringing the cash rate down to 2.00% from 2.25%; May 7th: UK General Elections held. Cameron is voted back to power. Pound Sterling rallies; May 10th:  PBoC cuts rates by a further 25bps, to bring interest rates to 5.10% from 5.35% previously. Add further stimulus measures by cutting lending rates and deposit rates on concerns of slowing growth. (Visited 12 times, 1 visits today)Kira VessiariContent Manager at OrbexMore Posts

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JUNE – Greece defaults on a $1.7 billion loan repayment to IMF

JUNE – Greece defaults on a $1.7 billion loan repayment to IMF

June 10th: RBNZ cuts OCR by 25bps from 3.50% to 3.25%, signals further rate cuts down the year. June 10th: BoJ Governor Kuroda tells Japanese legislators that he see’s no further room for the Yen to depreciate. Yen firms up on the remarks. June 17th: FOMC sends a dovish signal with lower than expected Fed forecasts. Dovish signal casts further doubts on rate hike plans. June 23rd: ECB raises emergency funding ceiling to Greece to keep banks afloat. June 25th: PM Tsipras calls for a Greek referendum on EU membership. Capital controls imposed. Greek banks survive on ELA lifeline from ECB. June 27th: PBoC cuts another 25bps from interest rates, from 5.10% to 4.85% including one-year lending rates. June 30th: Greece defaults on a $1.7 billion loan repayment to IMF, becoming the first developed economy to default on an IMF loan. (Visited 17 times, 2 visits today)Kira VessiariContent Manager at…

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JULY – Canadian economy contracts, Bank of Canada cuts rates by 25bps

JULY – Canadian economy contracts, Bank of Canada cuts rates by 25bps

July 10th: Fed Chair Yellen speaks. Keeps hope alive of Fed funds rate hikes; July 15th: Bank of Canada cuts rates by 25bps, bringing the overnight cash rate to 0.50% from 0.75% previously as Canadian economy contracts; July 16th – 20th: Greek government votes on approving the EU bailout terms. Vote passes and Greece is saved from the brink of exiting the EU. Capital controls still remain. Greece agrees to third EU bailout deal, gets short-term financing and diminishes the threat of a Grexit; July 22nd: RBNZ cuts cash rate by 25bps from 3.25% to 3.00%. (Visited 7 times, 1 visits today)Kira VessiariContent Manager at OrbexMore Posts

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AUGUST – IMF pulls out of negotiations with Greece

AUGUST – IMF pulls out of negotiations with Greece

August 2nd: IMF pulls out of negotiations with Greece; August 21st: China manufacturing posts sharp contraction highlighting slowdown in the manufacturing sector; August 18 – 24: Equity markets start to tumble. US S&P500 futures fall by over 10.7%; August 25th: PBoC further easing as the economy continues to slow down. Markets start to slowly recover. Concerns on global slowdown raise questions if Fed will be ever able to raise rates. (Visited 10 times, 3 visits today)Kira VessiariContent Manager at OrbexMore Posts

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SEPTEMBER – PBoC cuts Yuan reference rates by 0.22% to 6.377 a dollar

SEPTEMBER – PBoC cuts Yuan reference rates by 0.22% to 6.377 a dollar

September 3rd: Draghi sends a dovish signal to the markets at the ECB meeting. “Will do more if needed to boost inflation”; September 9th: RBNZ cuts rates from 3.00% to 2.75%; September 10th: PBoC cuts Yuan reference rates by 0.22% to 6.377 a dollar; September 17th: FOMC keeps rates on hold. Cites recent market rout and China’s Yuan devaluation and emerging market tantrum as reasons for not hiking rates. Markets now start to price in a rate hike only in 2016; September 20th: Greece calls on fresh elections. SYRIZA voted to power again with a mandate to carry through with implementing its debtors austerity rules.   (Visited 17 times, 2 visits today)Kira VessiariContent Manager at OrbexMore Posts

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OCTOBER – Draghi Unveils renewed QE Program as ECB Downgrades Outlook

OCTOBER – Draghi Unveils renewed QE Program as ECB Downgrades Outlook

October 22nd: ECB meeting see’s Draghi signal further policy actions in December meeting.Euro dives as expectations start to build that ECB will expand its QE purchases; October 23rd: PBoC cuts interest rates from 4.85% to 4.35%; October 28th: FOMC statement reveals that Federal Reserve is still considering hiking rates in December meeting if labour markets show improvement. (Visited 12 times, 1 visits today)Kira VessiariContent Manager at OrbexMore Posts

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NOVEMBER – US unemployment rate falls to 5.0%

NOVEMBER – US unemployment rate falls to 5.0%

November 6th: US unemployment rate falls to 5.0%. Markets start to seriously consider rate hike in December. (Visited 27 times, 1 visits today)Kira VessiariContent Manager at OrbexMore Posts

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DECEMBER – US Federal Reserve raises the interest rate by 25bps

DECEMBER – US Federal Reserve raises the interest rate by 25bps

December 3rd: ECB monetary policy announced deposit rate cut to -0.30%. Falls short of expanding QE. Euro surges by over 2.0% on the day; December 4th: US November nonfarm payrolls rises 211k and beats estimates. Unemployment rate steady at 5.0%. Signals Fed rate hike move; December 9th: RBNZ cuts overnight cash rate by 25bps. New Zealand interest rate at 2.50% from 2.75% previously; December 16th: Fed hikes rates by 25bps and expects four rate hikes in 2016. Markets take the rate hike in their stride. (Visited 12 times, 1 visits today)Kira VessiariContent Manager at OrbexMore Posts

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