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FOREX CENTRAL BANK WATCH: Interest Rate Expectations Hold Ahead of Euro-Zone PMI Data

FOREX CENTRAL BANK WATCH: Interest Rate Expectations Hold Ahead of Euro-Zone PMI Data

2011-02-21 02:57:00
DailyFX Research,
Share:

Central Bank

Current

Interest Rate

Next Policy

Decision Expectation

Market Conviction*

1-yr Exp**

Federal Reserve

0.00% - 0.25%

No change on 03/15

High

+31bps

European Central Bank

1.00%

No change on 03/03

High

+87bps

Bank of England

0.50%

No change on 03/10

Medium

+86bps

Swiss National Bank

0.25%

No change on 03/17

High

+28bps

Reserve Bank of Australia

4.75%

No change on 03/01

High

+32bps

Bank of Canada

1.00%

No change on 03/01

High

+90bps

Reserve Bank of

New Zealand

3.00%

No change on 03/09

High

+49bps

Bank of Japan

0.10%

No change on 03/15

High

+3bps

*Market Conviction is based on Overnight Index Swaps. A higher level of conviction implies a greater likelihood that the next policy decision expectation is accurate.

**Represents the number of basis points interest rates are expected to rise or fall over the next year.

Daily Update: Interest rate expectations remain near recent highs ahead of PMI Manufacturing and Services data for the Euro-Zone and member countries. These figures are expected to show robust economic activity and may provide additional support for interest rate expectations.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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