Archive for May 11th, 2017

Central Bank Watch

Central Reserve Bank of Peru

May 11, 2017

Peru’s monetary policy rate was sliced by 25 basis points to 4.0%. The move, according to a released statement, reflected in-target inflation, slower GDP growth that’s below the potential GDP trend, and uncertainty that surrounds the policies of key developed economy governments. The interest rate cut is the first since a 25-basis point reduction in […] More

Foreign Exchange Insights and Next Week

Next Week

May 11, 2017

Central Banks: Policy meetings are scheduled next week in Indonesia, Iceland, Chile, Mexico and Poland. The Reserve Bank of Australia and European Central Bank release minutes from their last meeting. Bullard and Mester are two of the Fed officials speaking publicly. Holiday: Constitution Day in Norway on May 17. U.S. Releases:¬†Industrial production, capacity usage, housing […] More

Central Bank Watch

Bank of England

May 11, 2017

The Monetary Policy Committee kept its Bank Rate at 0.25% and did not modify the limits of its quantitative stimulus. As she had done at the prior meeting in March, Kristin Forbes cast a sole dissenting vote in favor of hiking the interest rate to 0.50%, which resulted in a 7-1 verdict. A statement of […] More

Central Bank Watch

Central Bank of The Philippines

May 11, 2017

Officials at Bangko Sentral ng Pilipinas left all its interest rates unchanged including the key overnight reverse repo rate, which has been at 3.0% since 25-basis point hikes in July and September of 2014. A released statement¬†projects in-target (2-4%) inflation in both 2017 and 2018, while conceding that higher administered prices and proposed tax reforms […] More

Central Bank Watch

Reserve Bank of New Zealand

May 11, 2017

As they did at the first two policy reviews of 2017, monetary officials left New Zealand’s official cash rate unchanged at 1.75%, the level reached after a 25-basis point cut at the final meeting of 2016. In all, three 25-bp cuts were engineered in 2016 following four such moves between June and December of 2015. […] More

New Overnight Developments Abroad - Daily Update

Softer Pound

May 11, 2017

Sterling fell 0.4% against the dollar overnight. The ten-year British gilt yield has firmed two basis points, and the Ftse is little changed. The Bank of England left policy unchanged but suggesting greater monetary policy tightening during the forecast period than is implied in market interest rates. Several British economic statistics were reported. Similar to […] More

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