Central Bank Watch
Czech National Bank Leaves Two-Week Repo Rate Unchanged at 0.75% Again
March 24, 2011
The last two-week repo rate change, a 25-basis point reduction in May 2010, culminated 300 basis points of easing in eight moves from August 2008. According to a statement posted today on the CNB’s website, today’s site drew just a single dissent in favor of a 25-basis point tightening compared to three dissents at the […] More
Central Bank Watch
South Africa Moves Closer to its First Rate Hike
March 24, 2011
The South African Reserve Bank (SARB) left its repo rate unchanged at 5.5% as expected but released a more hawkish statement. Officials after the prior meeting in January had indicated their expectation of a stable policy stance “for some time.” No such assurance was made this time. Instead, the statement today just says a decision […] More
Central Bank Watch
A First Rate Hike for the Philippines
March 24, 2011
Bangko Sentral ng Pilipinas implemented its first rate change since July 2009, lifting its overnight borrowing rate and overnight lending rate by 25 basis points each to 4.25% and 6.25%. Declaring that the 3-5% inflation target for 2011-12 “could be at risk,” a released statement from the central bank’s Monetary Board called its action a […] More
New Overnight Developments Abroad - Daily Update
Commodity Currencies Up, Sterling Down
March 24, 2011
The dollar has fallen 0.9%, 0.5%, and 0.3% against the New Zealand, Canadian, and Australian dollars. At $1441.39 per ounce, gold prices are within $4 of their intra-day record high and 0.2% firmer than Wednesday’s close. Oil advanced 0.7% to $106.46 per barrel and hostilities continue in Libya. Sterling has fallen 0.3% further against the […] More
