Effective Exchange Rate Indexes: October 2016 Update

The NEER and REER page has been updated.

Summary

Since the last update in August, both broad indexes have slowly declined, and are now close to revisiting last year’s lows, at least as of the cut-off date (October 2016). The declines have been broad based since April, against all currencies with the exception of the GBP (still +8% since April). I’m expecting to see a further decline in November.

Changelog:

1. Indexes have been updated to October 2016
2. CPI deflators and forecasts have been updated for September/October 2016