Archive for August 4th, 2015

Central Bank Watch

National Bank of Romania

August 4, 2015

Romania’s central bank benchmark interest rate of 1.75% was not cut despite a drop in inflation caused by recent fiscal changes including reduced value added tax.  Today’s statement explains, “the strengthening over the short term of the transitory disinflationary impact exerted by the aforementioned fiscal measures masks the build-up of medium-term inflationary pressures, given the […] More

Central Bank Watch

Reserve Bank of India Keeps Policy Unchanged after Latest Bi-Monthly Review

August 4, 2015

There had been three cuts earlier this year (January, March and June) of 25 basis points in the repo rate (now 7.25%) and reverse repo (6.25%), but as expected, that didn’t happen again, nor was the 4% bank reserve requirement cut either.  Notably, CPI inflation rose sharply to 5.4%, a 9-month high.  Today’s statement observes […] More

Central Bank Watch

Reserve Bank of Australia Policy Review

August 4, 2015

The RBA Board, unlike at two meetings earlier this year in February and May, did not cut its record low 2.0% further this time but nonetheless released a statement that makes a case for continuing monetary accommodation.  Aside from a falling terms of trade (export/import ratio), “the economy is likely to be operating with a […] More

New Overnight Developments Abroad - Daily Update

Stronger Australian Dollar

August 4, 2015

The U.S. currency fell 1.8% against the Australian dollar but just 0.5% versus the kiwi and yen, 0.3% relative to the euro and 0.1% vis-a-vis sterling.  The dollar is up 0.4% against the loonie and 0.1% relative to the Swiss franc, and it is holding steady versus the yuan. The Shanghai Composite stock index rose […] More

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