2009 federal reserve board meeting

EU Preview: Investors Question Recent Strength in Euro Ahead of ECB Meeting

Investors appear to be questioning the recent strength of the euro ahead of the European Central Bank's interest rate decision on Thursday, according to currency strategists.The euro remains under significant pressure following Friday's massive selloff. EUR/USD dropped more than 3 cents on Friday in what was the biggest one-day selloff in two months. According to some currency strategists, the capitulation in the cross provides some risk that markets are expecting the ECB to announce some quantitative easing

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Fed's Pianalto Sees Economic Recovery Beginning Next Year

Real GDP in the U.S. is likely to stabilize later this year, with an economic recovery beginning in 2010, Cleveland Fed President Sandra Pianalto said on Wednesday.Speaking in Ohio, Pianalto said that a recovery is likely to be fuelled by Federal Reserve action and fiscal stimulus. Collectively, our actions have been aggressive and unprecedented, Pianalto said. Since October 2007, the Federal Reserve's balance sheet has grown from $855 billion to almost $2 trillion, and with our recent

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ECB's Hurley Doesn't Exclude a Further "Measured" Cut in May

Frankfurt - A further measured cut to the European Central Bank's main refinancing rate cannot be ruled out at the ECB's meeting in May, Irish central bank Governor John Hurley said.While the governing council is never pre-committed, I cannot exclude the possibility that the council may, in a very measured way, further reduce the main policy rate, Hurley, a member of the ECB's Governing Council, said at a meeting of EU ambassadors on Monday.Furthermore, a decision on non-standard

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RBA leaves rates unchanged at 3.00

Fxstreet.com (Jakarta) - The Reserve Bank of Australia as expected left its cash rate target unchanged at a 49-year low of 3.00% after a policy meeting earlier Tuesday. Strong gains in global equity prices over recent weeks also likely contributed to the RBA board's decision to keep interest rates on hold. But economists have said further cuts are nevertheless likely over coming months. Data is soon expected to confirm that Australia's economy is in a technical recession, with unemployment widely

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ECB's Bini Smaghi Says FX Intervention, In Theory, Can be Warranted at Times

Frankfurt - European Central Bank Executive Board member Lorenzo Bini Smaghi said that, in theory, intervention in FX markets is warranted and called on Europe to move towards a common economic policy.At an event in Brussels entitled Towards a European foreign economic policy, Bini Smaghi gave arguments in support of the euro flexible exchange rate, saying that such a system has allowed the ECB to focus on price stability rather than FX movements.Nevertheless, Bini Smaghi added that, despite

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Dollar appreciates across the board after FOMC

FXstreet.com (Barcelona) ?The U.S Dollar has reversed previous weakness against the Euro and Pound , appreciating against all majors after the The Federal Reserve?s Monetary Policy Committee has decided to maintain the target range for the federal funds rate at 0% to 0.25% while observes a slowdown in the pace of economic contraction.EUR/USD rally has halted at 1.3340 high, the highest level seen since mid April and has returned to levels around 1.3250 (50% fib retracement of the 5-22 April

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U.S. Preview: Markets Beginning to Let Go of Notion FOMC Will Buy Bonds (Repeat)

Market watchers seem to have all but let go of the idea that the Federal Reserve will announce measures to buy U.S. Treasuries on Wednesday following the Federal Open Market Committee meeting.It appears that any plan to buy Treasury securities has been put on the back burner, probably until at least the middle of this year, said Paul Dales, economist at Capital Economics.The Federal Reserve said it was considering buying longer-term bonds in its monetary policy statement

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U.S. Preview: Fed May Jump on the "Green Shoots" Band Wagon, but Keep Status Quo (Repeat)

With the so-called green shoots of economic recovery dominating much of the rhetoric from U.S. officials over recent weeks, economists question whether the Federal Reserve will jump on board at its monetary policy meeting on Wednesday.After shocking the financial markets with an ambitious purchase plan for U.S. Treasuries in March, the Federal Reserve has continued to deploy an arsenal of unconventional measures to stimulate the ailing U.S. economy, and with only a portion of the stimulus unleashed,

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ECB's Stark Calls IMF's SDRs "Pure Cash Creation"

Frankfurt - European Central Bank Executive Board member Jürgen Stark said that the International Monetary Fund's Special Drawing Rights, potential claims on widely used currency for IMF members, are pure cash creation and will only lead to an increase in global money supply.The IMF's SDR facility is helicopter money for the globe, Stark said in an interview with German newspaper Handelsblatt published on Tuesday. There hasn't been an examination if a global need for additional liquidity exists, Stark

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The Federal Reserve leaves rates at rates 0.25 %; economic contraction eases

FXstreet.com (Barcelona) ? The Federal Reserve?s Monetary Policy Committee has decided to maintain the target range for the federal funds rate at 0% to 0.25% while observes a slowdown in the pace of economic contraction.As widely expected, the Fed has approved unanimously to keep interest rates unchanged, while adverts slight improvements in economy, as household spending has shown signs of stabilizing despite being constrained by job losses, the decline in housing wealth and tighter credit conditions.However, the Fed expects economic

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