Central Bank Watch
Magyar Nemzeti Bank Still in Pause Bode But…
February 24, 2015
During the two years through last July, Hungary’s central bank policy rate was lowered by 490 basis points to the current level of 2.10%. Seven months have now passed since the last policy modification. Today’s released policy statement, however, puts markets on notice to the possibility of a further easing of the stance as soon […] More
Central Bank Watch
Central Reserve Bank of the Republic of Turkey Eases Only Slightly
February 24, 2015
Cuts today in Turkey’s one-week repo rate, overnight lending rate, and overnight borrowing rate were anticipated but are too small to assuage the frustration of a government that faces parliamentary elections in June, prefers rates to be considerably lower especially since Turkish inflation has fallen to a 20-month low of 7.24%, and has increasingly gone […] More
New Overnight Developments Abroad - Daily Update
Awaiting Janet Yellen’s Semi-Annual Humphrey-Hawkins Testimony
February 24, 2015
Day One of Fed Chair Yellen’s testimony on the economy and monetary policy begins at 10:00 before the Senate Banking Committee. On Wednesday, she will reprise the testimony before the House Financial Services Committee. The testimony comes amid rising Congressional hostility to an independent central bank. Indeed, a major question before the American people in […] More
