Three European central banks have now cut interest rates this month: the Czech National Bank by 50 basis points last Friday, the National Bank of Moldova by 15 bps yesterday and, most tellingly, the Swedish Riksbank today by 25 basis points to 3.75%. These announcements are a harbinger of coming reductions elsewhere in the region. Prospects for Fed easing are less clear. Minneapolis Federal Reserve District President Kashkari (and a former interim Assistant Secretary of the Treasury) reaffirmed the need for more proof that U.S. disinflation will continue all the way to the 2% target and insinuated that no rate cut ... (full story)