Archive for September 11th, 2015

Foreign Exchange Insights and Next Week

Next Week

September 11, 2015

Central Bank Beat:  Interest rate meetings in the United States, Switzerland, Indonesia, Thailand, Chile, and Japan.  Published minutes of past meetings in Australia and Japan.  BOJ Governor Kuroda and Fed Chair Yellen hold press conferences following meetings. Ecofin Meeting: Finance ministers in the eurozone meet this weekend and early in the week. Scheduled U.S. Data […] More

Central Bank Watch

Serbian Interest Rate Cut

September 11, 2015

On September 10, the National Bank of Serbia’s one-week repo rate was cut by 50 basis points for a sixth time since March.  The rate has fallen from 8% at the start of the year to the new level of 5.0%.  A released statement stresses, weak growth, low inflation, well-anchored expected inflation and the recent […] More

Central Bank Watch

Russian Monetary Easing Paused Because of Ruble Collapse

September 11, 2015

750 basis points of tightening in December 2014 had lifted the Bank of Russia’s repo rate to 17% coming into 2015 and 11.5 percentage points above the mid-2014 level.  A shift in monetary gears as the Russian economy spiraled into deep recession say the repo rate reduced five times in the first seven months of […] More

Central Bank Watch

Bank Negara Malaysia’s Monetary Policy Unchanged

September 11, 2015

Malaysia’s overnight money rate target has been at 3.25% for the past 14 months following four 25-basis point hikes between March 2010 and May 2011 and a fifth 25-bp increase engineered some three years later in July 2014.  The latest policy meeting concluded with the release of a statement that express satisfaction with the baseline […] More

Central Bank Watch

Bank of Korea Retains 1.5% Seven-Day Repo Rate

September 11, 2015

South Korean monetary policy has an accommodative bias.  Four 25-basis point rate cuts since August 2014 and most recently in June of this year have lowered the benchmark to a record low of 1.5%.  A released statement after this month’s policy meeting is dovish.  South Korean growth was scant and disappointing in the first half […] More

Central Bank Watch

Central Reserve Bank of Peru

September 11, 2015

With higher food costs, a depreciation exchange rate, and upwardly drifting expected inflation lifting actual CPI inflation in Peru, the central bank raised its key interest rate to 3.50% from 3.25%.  This monetary policy tightening broke a streak of seven meetings without a policy change and constitutes the first interest rate hike since May 2011.  […] More

New Overnight Developments Abroad - Daily Update

Gloom Fails to Lift

September 11, 2015

West Texas Intermediate crude oil fell back 2.4% to $44.80 per barrel. Comex gold is 0.4% lower at $1,126.80. Ten-year British gilt and German bund yields slid two and one basis points.  The 10-year JGB stayed at 0.34%. The dollar rose 0.4% against the Swiss franc, 0.2% relative to the loonie, sterling, kiwi and Aussie […] More

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