Unsurprisingly, many central banks commented on the impact of global developments on their policy outlook; with the signs of slowing growth in the US and Europe and continued financial market volatility weighing on decisions. However many emerging markets are still experiencing relatively buoyant economic conditions, as indicated in central bank statements in the past week. A selection of key quotes from central bank monetary policy media releases are listed below:
Looking at the central bank calendar, next week there are a number of European central banks meeting (Hungary, Turkey, Iceland, Czech Republic, Norway), no doubt they will make due reference to the developments in the Euro sovereign debt crisis. Of course, the other key event on the radar is the US FOMC meeting on the 20th - Bernanke announced at Jackson Hole the meeting would be extended to 2 days to allow the FOMC to consider implementing QE3 or QE2.1.