Category: Currency

Economic activity has been increasingly sluggish due to the effects of earlier increases in energy and materials prices and the decrease in exports, and this situation will likely persist over the next several quarters. The CPI inflation rate (excluding fresh …

The Swiss National Bank (SNB) is lowering the three-month Libor target range by 100 basis points to 0.5-1.5% with immediate effect. It will provide the Swiss franc money market with a generous and flexible supply of liquidity in order to …

In view of a further widening in financial market strains internationally, the Committee considered proposals to establish temporary reciprocal currency (”swap”) arrangements with several additional foreign central banks. Members unanimously approved the following resolution, which effectively permitted the Foreign Currency …

Before turning to its immediate policy decision, and against the background of its latest projections for output and inflation, the Committee discussed financial market developments; the international economy; money, credit, demand and output; and costs and prices.

The legislation that created the TARP put in place a Financial Stability Oversight Board to review the actions of the Treasury in administering the program. That Oversight Board includes the Secretary of the Treasury, the Secretary of Housing and Urban …

The Board’s review of international economic conditions commenced with the United States, where the latest data confirmed deteriorating economic conditions. US GDP had recorded a small fall in the September quarter, with the national accounts indicating weak consumption, a continuing …

There has been a marked deterioration in the outlook for domestic and global economic activity. Instability in banking and financial markets intensified to levels not seen for almost a century. And, in the United Kingdom, official estimates of GDP growth, …

World financial markets have come under severe stress in the period since the last Statement. Strains in credit markets escalated in early September, and the period since then has been marked by further large declines in equity prices and exceptional …

On the basis of its regular economic and monetary analyses, at today’s meeting the Governing Council decided to reduce the key ECB interest rates further by 50 basis points, following the previous coordinated interest rate cut on 8 October 2008. …

At today’s meeting the Governing Council of the ECB took the following monetary policy decisions: The minimum bid rate on the main refinancing operations of the Eurosystem will be decreased by 50 basis points to 3.25%, starting from the operation …

The Swiss National Bank (SNB) is lowering the three-month Libor target range by 50 basis points to 1.5%-2.5% with immediate effect. It intends to hold the rate in the middle of the target range for the time being. The global …

The Bank of England’s Monetary Policy Committee today voted to reduce the official Bank Rate paid on commercial bank reserves by 1.5 percentage points to 3%. The past two months have seen a substantial downward shift in the prospects for …

At its meeting today, the Board decided to reduce the cash rate by 75 basis points to 5.25 per cent, effective 5 November 2008. World financial markets have remained turbulent over the past month. Global equity prices have been volatile …

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Forex Forecast: US Dollar Down Amidst Fed Rate Cut, What Impact …
Daily FX, NY - 18 minutes ago
Forex Forecast: US Dollar Down Amidst Fed …