by Daily Bell Staff
The Daily Bell
In Super Wednesday’s central bank double-header, the Federal Reserve’s show may be an afterthought to the Bank of Japan’s performance. In a case of unusual timing, both the BOJ and the Fed will announce the outcomes of their monetary policy meetings on Wednesday. While the two major central banks frequently meet in the same week, a same-day announcement was unusual. The BOJ statement is due around midday Japan time Wednesday and the Fed’s statement is scheduled for later in the global day, around 2 p.m. Eastern time. – CNBC
The Bank of Japan’s Wednesday meeting is attracting considerable attention because of its capacity to “surprise.”
The Federal Reserve meeting is not expected to contain such surprises, though there is of course the possibility that the Fed will engage a quarter point hike.
But in the longer term we’d argue as we have before that there are no real surprises inherent in central bank rate manipulations for the foreseeable future.