Archive for July 23rd, 2013

Central Bank Watch

Twelfth Straight Interest Rate Cut in Hungary

July 23, 2013

Magyar Nemzeti Bank’s two-week repo rate was sliced to 4.0%.  This was the 12th monthly reduction in a row, a streak that started last August with a cut to 6.75% from 7.0%.  The severity of Hungary’s recession seems to have lessened, and inflation of 1.9% last month remained below the 3.0% target.  The dollar hasn’t […] More

Central Bank Watch

Central Bank of the Republic of Turkey

July 23, 2013

Turkish inflation had spiked more than a percentage point to 8.3% in June, fed partly by food and energy pressures, and Turkish monetary officials responded with a 75-basis point increase of the overnight lending rate to 7.25%.  The overnight borrowing rate was left at 3.5%.  Both rates had been cut earlier this year, including 50-bp […] More

New Overnight Developments Abroad - Daily Update

Mixed Data and a Couple of Central Bank Meetings

July 23, 2013

The dollar rose 0.4% against the yen, drawing very near the 100 threshold.  The dollar otherwise has dropped 0.3% against the loonie, which was supported by strong Canadian retail sales figures.  The dollar has firmed 0.2% against the Swiss franc and 0.1% versus the kiwi and Aussie dollar but has edged down 0.1% relative to […] More

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