Archive for February 12th, 2013

Central Bank Watch

No Central Bank Rate Change in Sri Lanka

February 12, 2013

Sri Lankan central bank authorities have retained a 7.5% repo rate (and 9.5% reverse repo), just as they decided in January.  The rates were cut by 25 basis points in December once progress had been observed in cutting non-oil import growth and domestic credit expansion.  Those were the goals sought when central bank rates were […] More

Central Bank Watch

Bank Rossii

February 12, 2013

The Bank of Russia’s Board of Directors kept its refinancing rate at 8.25%, the level since a 25-basis point hike last September and also the level prior to a 25-bp cut in December 2011.  A statement from monetary officials notes that CPI inflation of 7.1% currently mostly reflects food price pressures but predicts above-target inflation […] More

Central Bank Watch

Bank Indonesia Retains 5.75% Record Low Reference Interest Rate

February 12, 2013

The benchmark interest rate has been at 5.75% since a reduction of 25 basis points in February 2012, which was the third cut following ones of 25 bps in October 2011 and 50 bps in December 2011.  300 basis points of easing that began in December 2008 ended in August 2009 at 6.5%.  Two years […] More

New Overnight Developments Abroad - Daily Update

Verbal Support for Weaker Yen, Soft Dollar, and Firm Euro

February 12, 2013

G7 finance ministers and central bankers released a standard statement on FX policy that failed to criticize Japan: “We, the G7 Ministers and Governors, reaffirm our longstanding commitment to market determined exchange rates and to consult closely in regard to actions in foreign exchange markets. We reaffirm that our fiscal and monetary policies have been […] More

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