Category — Action Insight Special Reports

As expected the ECB lowered the main refinancing rate by -25 bps to 1.0%. In addition, several new easing measures, including 3-year LTRO, increase in collateral availability and reduction in requirement ratio, were also announced. ECB staff downgraded the economic outlook but revised up inflation forecasts for 2012. It's probably

The RBNZ left the OCR at 2.5% in December and policymakers delivered a more downbeat tone in the accompanying statement. The overhang in the sovereign debt crisis in the Eurozone and the weakter-than-expected domestic data in recent month signaled that risks are on the downside for the economic outlook New

The BOC left the overnight rate at 1%, as widely expected by the market, although global economic outlook has deteriorated sharply and the outlook of European sovereign debt problems remained uncertain. Although policymakers expected the recession in Europe will be 'more pronounced', recent economic data showing stronger-than-expected US economic activities

In line with market expectations, the RBA lowered the cash rate for a second consecutive month, by -25 bps to 4.25%, amid worries that the financial turmoil in Eurozone would further drag down economic conditions in Australia. The slowdown in Chinese growth would also reduce demand of Australia's exports. Policymakers

The FOMC minutes for the November meeting showed that policymakers discussed a wide range of tools to improve communication with the market. For instance, a few members favored language that specified a period when the funds rate was expected to be low, as opposed to a calendar date. Other measures

The BOE released a dovish quarterly inflation report Wednesday. The prospect of economic growth remained weak despite expansion on asset purchases in October. Having lowered the growth and inflation outlook, it appears likely that the central bank will loosen its monetary policy further in coming months while interest rates will

China's headline CPI eased to +5.5% y/y in October from +6.1% a month ago, thanks to the pullback of food prices. PPI rose +5.0% y/y during the month, moderating sharply from +6.5% in September. The relief in upstream cost pressure suggested that the pass-through effect to the downstream CPI would