Archive for January 29th, 2013

Central Bank Watch

Sixth Straight Hungarian Central Bank Rate Cut

January 29, 2013

The two-week deposit rate of the Magyar Nemzeti Bank has been reduced by 25 basis points to a 34-month low of 5.5% that remains elevated compared to the level of rates elsewhere in Europe.  The rate has been cut by a total of 150 basis points since August, and this month’s reduction was authorized in […] More

Central Bank Watch

India Gets Easier Monetary Policy Stance

January 29, 2013

Officials at the Reserve Bank of India Cut the central bank’s repo and reverse repo rates by 25 basis points each to 7.75% and 6.75%.  This was the second round of cuts.  The first was made last April and amounted to 50 basis points.  Previously, the repo rate had been raised by 200 basis points […] More

New Overnight Developments Abroad - Daily Update

Japanese Government on Defensive over Yen Policy

January 29, 2013

Foreign governments continue to depict the actions and remarks of the new Japanese government as a breach of the rule against competitive devaluation.  The yen recovered 0.4% against the dollar overnight.  The U.S. currency also lost 0.3% against the Australian dollar and sterling and 0.2% versus the Swiss franc and kiwi.  The dollar has risen […] More

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