Archive for March 25th, 2010

Central Bank Watch

Czech National Bank: No Rate Change But More Dovish Bias

March 25, 2010

The two-week repo rate was left at 1.0% by a 4-2 vote.  Unlike a unanimous decision on February 4 to keep policy stable, today’s meeting saw two policymakers dissent in favor of a 25-basis point cut because of a more benign inflation prognosis that envisages a sub-target CPI until March 2011.  Consumer prices rose only […] More

Central Bank Watch

An Unexpected South African Rate Cut With a Lesson for the Euro

March 25, 2010

The South African Reserve Bank (SARB) cut its repo rate to 6.5% from 7.0% in a move that was not foreseen by analysts.  Since the prior rate hike last August, which also was by 50 basis points, the central bank’s monetary policy committee had met four times — in September, October, November and January — […] More

Central Bank Watch

Taiwan Central Bank Leaves 1.25% Rediscount Rate But Will Reabsorb Excess Liquidity

March 25, 2010

The Central Bank of the Republic of China (Taiwan) kept its 56-year low 1.25% rediscount rate steady and did not raise reserve requirements, either.  However, officials announced that the reabsorption of excess funds in Taiwan’s financial system will pick up pace in the period ahead and that limits will be placed on property loans.  Taiwanese […] More

New Overnight Developments Abroad - Daily Update

Dollar Gave Back Some of Wednesday’s Advance

March 25, 2010

The dollar has lost 0.7% against the kiwi, 0.6% versus sterling, 0.5% against the Canadian and Australian dollars, 0.4% relative to the Swiss franc and yen and 0.3% against the euro.  Aid to Greece will be discussed at today’s EU summit, but don’t be surprised if no new game-changing details emerge. In Asia, stocks fell […] More

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