Canada Takes Interest Rates to 50 Year Low
Canada Takes Interest Rates to 50 Year Low
The Bank of Canada took interest rates to a 50 year low this morning of 1.5 percent and signaled that further monetary stimulus may be needed. Their next rate decision is on January 20th and there is a strong chance that the central bank will take interest rates […]
European Stock Rally Boosts Euro, RBA Cuts Rates by 1%
European Stock Rally Boosts Euro, RBA Cuts Rates by 1%AUS Retail Sales Surprise on Upside
We begin in Australia, where retail sales on a trends basis grew 0.2%, higher than forecasts. It’s a welcome sign that consumers are still spending. In a seasonally adjusted basis sales were up an even larger 0.7%.
RBA Cuts Interest Rates by 100bp, to 4.25%
RBA Cuts Interest Rates by 100bp, to 4.25%
The Reserve Bank of Australia slashed its benchmark cash rate by 100bp to 4.25%. Economists expected a cut of 75bp to 4.50%.
The RBA’s announcement stated “together with the spending measures announced by the Government” that “significant policy stimulus will be supporting demand over the year ahead.” The statement […]