Archive for October 2nd, 2013

Central Bank Watch

European Central Bank: No Change

October 2, 2013

The monthly meeting of the ECB Governing Council was held in Paris this month and on the first Wednesday, rather than first Thursday of the month because of a German holiday tomorrow. Council members engaged in a discussion of whether to reduce interest rates but by consensus majority elected again not to do so.  A […] More

Central Bank Watch

National Bank of Poland

October 2, 2013

Narodowy Bank’s reference rate of 2.5% and all other central bank rates were left unchanged.  Eight cuts between November 2012 and July 2013 totaled 225 basis points.  Poland has been experiencing very weak growth(0.4% between 1Q and 2Q and 1.1% in the year to 2Q) and sub-target (ie below 2%)  inflation.  The reference rate is […] More

Central Bank Watch

Central Bank of Iceland

October 2, 2013

Iceland’s Monetary Policy Committee left its 7-day collateralized interest rate at 6.0%, a third as much as the pre-March 2009 high and the prevailing level since a 25-basis point increase in November 2012, which had been the sixth advance since August 2011 from a base of 4.25%.  Icelandic GDP growth was roughly 2% in the […] More

New Overnight Developments Abroad - Daily Update

ECB Day

October 2, 2013

This month’s meeting and press conference of the European Central Bank’s Governing Council is scheduled today rather than on the customary first Thursday because Germany is closed tomorrow for Unity Day.  The ECB is located in Frankfurt.  No change in interest rates is expected, and no significant new revelations are anticipated, either. Two central banks […] More

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