Central Bank Watch
Bank Rossii: Mixed Message after Policy Meeting
June 15, 2012
Russia’s refinancing rate had been cut in December from 8.25% to 8.0% in a directional reversal following 50 basis points of tightening this year. After the latest policy meeting, there still have been no refinancing rate changes in 2013. However, a surprise was sprung when the rate on FX swaps was cut to 6.5% from […] More
Central Bank Watch
Central Bank of Chile: No Changes Made
June 15, 2012
As officials did in the prior four monthly meetings, the monetary policy interest rate in Chile was left at 5.0%. The decision was accompanied by a statement that noted At-trend growth in output and demand. Tight labor markets. Acceptable inflation that in fact eased last month. Expected inflation that’s consistent with the target. Intensifying financial […] More
Central Bank Watch
No Change in Bank of Japan Policy Settings
June 15, 2012
The Bank of Japan Policy Board left its interest rate and asset buying targets unchanged after its five hour one minute-long meeting over two days. The overnight uncollateralized interest rate has been zero to 0.1% since October 5, 2010 and has not exceeded 0.5% since September 1995. The asset purchase plan was raised earlier this […] More
New Overnight Developments Abroad - Daily Update
Weekend Elections in Greece and France
June 15, 2012
Greek elections on Sunday have captivated the market’s attention. G20 sources claim that central banks have contingency plans to handle inadequate market liquidity afterward. Investors have to wonder if the reports are adequate and if officials really have the means to combat market volatility. France holds the second round of parliamentary elections on Sunday as […] More
