Archive for May 7th, 2015

Central Bank Watch

Accommodative Czech Monetary Policy to be Retained through 2016

May 7, 2015

There are two elements to this policy.  First, a technical zero interest rate policy has been in place since the central bank’s two-week repo rate was cut by 20 basis points to 0.05% at the beginning of November 2012.  This level will be retained until late 2016 at least, that is the end of the […] More

Central Bank Watch

Norges Bank

May 7, 2015

The Central Bank of Norway’s executive board retained a 1.25% deposit rate.  1.25% matches the Great Recession low even though a 25-basis point hike in October 2009 constituted Europe’s first post-Great Recession central bank rate hike.  The rate was last reduced in December 2014.  A 25-basis point cut then followed reductions of 25 bps in […] More

Central Bank Watch

Bank Negara Malaysia Policy Unchanged

May 7, 2015

“At the current level of the OPR, the stance of monetary policy remains accommodative and supportive of economic activity,” asserts Malaysia’s latest monetary policy statement.  The overnight policy rate (OPR) has been at 3.25% since a 25-basis point increase last July.  Four previous 25-bp increase were undertaken in March, May and July of 2010 and […] More

New Overnight Developments Abroad - Daily Update

Markets React Uneasily to Yesterday’s Remarks by Fed Chair Janet Yellen

May 7, 2015

The big uncertainty for some time has been whether markets and economies could handle a rising trend in the federal funds rate and whether inability to do so might deter Fed officials from getting the policy stance to where it wants.  The gist of Yellen’s remarks on Wednesday is that there is no alternative to […] More

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