Central Bank Watch
European Central Bank Does Something Unexpected
December 8, 2016
Back last March, the Governing Council had augmented monetary policy easing in several ways, such as cutting the interest rates by 5 bps each in the case of the refinancing rate (now at zero percent) and marginal lending facility (0.25%) as well as the deposit rate by 10 bps to -0.40%. Monthly asset purchases were […] More
Central Bank Watch
National Bank of Ukraine
December 8, 2016
Ukraine’s central bank interest rate had been ratcheted up to as high as 30% last year to counter exchange rate depreciation and the inflation such causes. Once stabilization had been secured, such was slashed by 3 percentage points (ppts), 5 ppts and 4 ppts in August and September 2015, and May of this year. Four […] More
Central Bank Watch
National Bank of Serbia
December 8, 2016
Serbia’s key monetary policy interest rate was left at 4.0%, its level since a 25-basis point reduction in July. A statement released by the National Bank of Serbia reiterated several factors mentioned after the prior meeting last month for why inflation is likely to firm into the 1.5-4.5% target range by early 2017. But in […] More
New Overnight Developments Abroad - Daily Update
Dollar Strengthens against Euro after ECB Announcement
December 8, 2016
The dollar advanced 1.3% against the euro, 1.0% versus the Swiss franc, 0.5% relative to the Aussie dollar, 0.3% vis-a-vis the yen and sterling and 0.2% against the Mexican peso and Chinese yuan. ECB interest rates were left unchanged. The non-standard asset purchase program was extended nine months in duration but reduced to EUR 60 […] More
