Archive for October 27th, 2016

Central Bank Watch

National Bank of Ukraine

October 27, 2016

Ukraine’s key interest rate was cut by another full percentage point to 14.0%, bringing the cumulative drop since May to 800 basis points. If economic developments continue to evolve as monetary officials expect, more reductions will follow, according to a released statement.  Most importantly, total and core CPI inflation have been diminishing. Total inflation last […] More

Central Bank Watch

Bank of Israel

October 27, 2016

Israel’s central bank interest rate was left at 0.10% after the October policy meeting. It’s been at that level since a 15-basis point reduction in February 2015. In each of the four previous calendar years, three 25-bp reductions had been administered. On-year CPI inflation still lies below zero and significantly under what constitutes price stability. This […] More

Central Bank Watch

Swedish Riksbank

October 27, 2016

The Executive Board’s statement after agreeing to keep a negative 0.50% central bank interest rate has plenty of forward guidance painting a picture of even more monetary accommodation. The interest rate is unlikely to rise until early 2018, six months later than imagined earlier. Asset buying in the second half of 2016 will be no […] More

Central Bank Watch

Bank of Norway

October 27, 2016

Norway’s main central bank interest rate will remain at a record low of 0.50%, the level since a 25-basis point reduction last March. The rate had also been reduced by 50 basis points in both 2014 and 2015. Today’s released statement from the central bank Executive Board is somewhat less dovish than the one following […] More

New Overnight Developments Abroad - Daily Update

Bond Selloff Gathers Impetus

October 27, 2016

Investor caution has shifted from stocks to bonds. Dollar changes against currencies of other advanced economies have been limited. Several emerging market currencies — e.g. the rand and won — have depreciated. Economic data released today have generally accentuated the positive. The dollar lost 0.2% against the euro overnight and 0.1% relative to the loonie […] More

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