Archive for May 12th, 2016

Central Bank Watch

Central Reserve Bank of Peru Retains 4.25% Interest Rate

May 12, 2016

Citing a reversal of expected inflation, food prices and utilities, as well as a recovering in domestic demand, Peruvian monetary policymakers, who had hiked their key interest rate in September and December of 2015 as well as each of the first two months of 2016 — each time by 25 basis points — again saw […] More

Central Bank Watch

Bank of Norway

May 12, 2016

Norway’s key policy rate had been cut to 0.50% from 0.75% at the prior Executive Board meeting in mid-March, but officials then warned against dangers of ultra-low interest rates and promised to exert caution in considering any further stimulus.  Sure enough, the the interest rate was kept at 0.50% at this week’s meeting.  And a […] More

Central Bank Watch

Filipino Monetary Policy

May 12, 2016

Monetary Board officials at Bangko Sentral ng Pilipinas left the key overnight borrowing and lending rates at 4.0% and 6.0%, assessing the environment for inflation to be still manageable.  The last rate changes were made in 2014, a 25-basis point hike in July followed by another in September.  Those moves had been the first increases […] More

Central Bank Watch

Bank of England Leaves Policy Settings Unchanged and Warn Sternly about Dangers of Leaving EU

May 12, 2016

Members of the Monetary Policy Committee were unanimous in retaining a 0.5% Bank Rate and GBP 375 billion limit on the asset purchase program.  Inflation of 0.5% is only a fourth of the 2.0% medium-term target, and the growth slowdown last quarter is projected to extend further in the current one.  Downside external risks will […] More

New Overnight Developments Abroad - Daily Update

Lower Yen and Stronger Norwegian Krone as Oil Recovers

May 12, 2016

WTI oil rose 0.9% to a six-month high above $46/barrel after indications of a diminishing supply glut.  Comex gold fell 0.5% overnight. The dollar rebounded 1.4% against the yen.  Norway’s krone advanced 1.1% against the euro.  The dollar climbed 0.6% relative to the Aussie dollar but is narrowly mixed versus sterling, the Swiss franc, the […] More

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