Archive for May 22nd, 2014

Central Bank Watch

South African Monetary Policy Left Unchanged With Tightening Bias

May 22, 2014

The committee continues to hold the view that we are in a rising interest rate cycle, and interest rates will have to be normalized in due course. We embarked on this process with our first move in January 2014. At this stage the pace and timing of normalisation in the advanced economies appears to have […] More

Central Bank Watch

Turkish One-Week Repo Rate Cut to 9.5% from 10.0%

May 22, 2014

Citing lower market interest rates, less uncertainty in general, and improved risk premium indicators, officials at the Central Bank of the Republic of Turkey reduced the hey repo interest rate, which had been previously at 10.0% since a 550-basis point increase in mid-January.  The overnight lending and borrowing rates were left unchanged at 12% and […] More

New Overnight Developments Abroad - Daily Update

Several Preliminary Purchasing Manager Surveys Support Cautious Optimism

May 22, 2014

Late Wednesday, investors were heartened by the dovish tone of the FOMC minutes.  News that China’s HSBC-compiled purchasing managers index for manufacturing had risen 1.6 points to a 5-month high of 49.7 provided another upbeat impulse to the mood.  In other PMI news, Japan’s factory PMI rose 0.5 points to a 2-month high of 49.9.  […] More

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