Archive for December 17th, 2013

Central Bank Watch

Swedish Riksbank Repo Rate Cut

December 17, 2013

A one-year pause in monetary easing was ended this month, but the 25-basis point cut to 0.75% was expected by market analysts.  Two of six members of the Executive Board had sought a further cut all year, and now the majority agreed, conceding that inflation had not developed as assumed.  Summarizing today’s decision, a statement […] More

Central Bank Watch

Central Bank of the Republic of Turkey

December 17, 2013

Members of Turkey’s monetary policy committee agreed to leave settings unchanged after this month’s interest rate meeting and released a statement that adopts a guarded tone, affirming that “the cautious monetary policy stance should be maintained until the inflation outlook is in line with the medium term targets.”  The statement indicates that “interbank money market […] More

Central Bank Watch

Czech National Bank

December 17, 2013

The two-week Czech repo rate has been at 0.05% since a 20-basis point cut on November 1, 2012.  Previous cuts of 25 bps were implemented in September 2012, June 2012, May 2010, December 2009, August 2009, and May 2009.  From a peak of 3.75% prior to August 2008, it was also cut 25 bps that […] More

Central Bank Watch

Magyar Nemzeti Bank Eases Again and Signals likely Further Monetary Relief Next Year

December 17, 2013

Hungary’s two week deposit rate was at 7.0% prior to August 2012 when a string of reductions began, and it has continued to now with today’s announcement of a 20-basis point cut to 3.0%.  The statement concludes with the following summary of reasons for easing and forward guidance that such is likely to continue.  Each […] More

New Overnight Developments Abroad - Daily Update

Continuing Rush to Release Data Ahead of the Yearend Holidays

December 17, 2013

Typical of December, many countries are releasing data earlier in the month than is typical at other times of the year.  The same is true of central bank meetings. Four central banks announced monetary  policy meeting decisions. Swedish Riksbank:  Cut its repo rate by 25 basis points to 0.75%.  The decision was unanimous and expected.  […] More

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