Central Bank Watch
Analysts Surprised by Central Bank Decision in Hungary
January 24, 2012
Officials at Magyar Nemzeti Bank had raised their key base rate by 50 basis points each on November 30 and December 20 and were expected to do such a third time at today’s first policy meeting of 2012, but they instead left such unchanged at 7.0%. In all, there have been five rate hikes thus […] More
Central Bank Watch
Unchanged Turkish Monetary Policy Settings Following First Meeting of 2012
January 24, 2012
The monetary authorities at the Central Bank of the Republic of Turkey declined to change its policy stance, which had been tightened last October to prevent second-order effects from temporarily accelerated price increases late in 2011. The one-week repo rate, which is the primary policy rate, has been at 5.75% since last August, and there […] More
Central Bank Watch
Reserve Requirement Lowered in India
January 24, 2012
Monetary officials at the Reserve Bank of India cut their cash reserve requirement to 5.5% from 6.0% but left the key 7.5% reverse repo rate and 8.5% repo rate unchanged. This combination of moves is expected to ease excessively tight liquidity conditions, mitigate a slowdown in growth, but also contain price pressures and anchor medium-term […] More
Central Bank Watch
Bank of Japan Downgrades Assessment But Leaves Policy Unchanged
January 24, 2012
Japan’s target overnight interest rate remains in a range of zero to 0.1% and the asset purchase plan’s size remains at JPY 55 trillion. The current interest rate has remained as such since October 2010, and quantitative easing was last expanded in October 2011. Current account balances held by banks with the BOJ have averaged […] More
New Overnight Developments Abroad - Daily Update
Concerns Mount as Greek PSI Deal Remains Elusive
January 24, 2012
The German Dax, Paris Cac and British Ftse have fallen 1.5%, 1.3%, and 0.9%. Many bourses in Asia remained shut for the Lunar New Year. Stocks fell 2.2% in Sri Lanka and 0.8% in New Zealand but rose 1.5% in India and 0.2% in Japan. The euro faltered after touching $1.3065, its strongest level since […] More
