forex jpy

Despite expectations, which were now clearly premature, of a shift in policy, the BOJ kept rates on hold.  Alongside the decision, the statement issued forward guidance on rates for the first time with the bank declaring that rates would stay at “extremely low” levels for an “extended period”. BOJ Chief Kuroda said that “This will fully counter ...

2018-07-31 James Harte Read more
BoC

The Bank of Canada was seen hiking interest rates at its monetary policy meeting on Wednesday in what was a close call. However, economists were expecting the BoC to hike rates. The BoC signaled that there was room for more rate hikes and the hawkish forward guidance comes amid mounting trade tensions with the United States. The Bank of Canad...

2018-07-19 John Benjamin Read more

The economic calendar for the week ahead is relatively quiet following a busy start to the month last week. Among the central bank meetings, the Bank of Canada's monetary policy meeting stands out. Heading into the BoC meeting, the markets are somewhat divided on whether the BoC will hike rates or not this week. The European Central Bank will...

2018-07-09 John Benjamin Read more
central bank

The Fed: Gradual Policy Tightening In Full Swing The Fed has reaffirmed its commitment to sticking to its plan of “gradual” policy normalisation with two more hikes forecast this year. The economic outlook is good, with the economy on track to grow by around 4% in Q2 2018, boosted by tax cuts with inflation continuing to creep higher. Employmen...

2018-07-05 James Harte Read more

The month of June stood out with two major central banks taking monetary policy decisions. The U.S. Federal Reserve hiked interest rates by 25 basis points while the European Central Bank announced a modest taper to 15 billion euro starting from September and eventually ending its QE program by December 2018. The U.S. dollar continued to main...

2018-07-03 John Benjamin Read more
bank of canada

While until recently, economists were hawkish on the Bank of Canada and preparing for a rate hike as early as July, the prospects of a rate hike are starting to diminish if recent data is anything to go by. Last week, data from Canada covered the retail sales and inflation reports. An unexpected dip in Canada's retail sales in April and a rat...

2018-06-29 John Benjamin Read more
bank of canada

The Bank of Canada held its monetary policy meeting last week. Interest rates were left unchanged at 1.25% as widely expected. But, the central bank surprised by signaling that the next rate hike could be coming soon despite uncertainties surrounding global trade. The BoC has hiked interest rates three times since mid last year. This came aft...

2018-06-08 John Benjamin Read more
Canadian May Retail Sales and Inflation

On Friday last week, the Canadian May Retail Sales and Inflation economic data was released. The mixed results saw the markets clearly divided on the next monetary policy move from the Bank of Canada. Data from Statistics Canada showed that the annual inflation rate grew at a slower pace. However, inflation still remained above 2% for the thi...

2018-05-25 John Benjamin Read more
April Canada Unemployment Rate Remains Steady

As the April Canada unemployment rate remains steady, the Canadian economy was seen losing jobs in the month of April, with declines seen by a drop in the part-time workers. The weaker than expected data raised expectations that the Bank of Canada will be holding interest rates unchanged at its meeting this month. Data from Statistics Canada ...

2018-05-18 John Benjamin Read more
Canada holds interest rates steady

The Bank of Canada held its monetary policy meeting last Wednesday. As widely expected, the central bank of Canada holds interest rates steady at 1.25%. The central bank cited uncertainty related to trade factors as one of the reasons for keeping interest rates unchanged. Reiterating the statement from January which was largely unchanged, the...

2018-03-23 John Benjamin Read more