Archive for October 19th, 2017

Central Bank Watch

Central Bank of Chile

October 19, 2017

Chilean monetary officials once again left the key interest rate at 2.5%. The last reduction in May capped four 25-basis point moves during the first five months of 2017 to the current level. The rate had been at 3.5% throughout the entirety of 2016. Officials run an inflation-stabilization monetary policy, targeting the CPI at 3.0% […] More

Central Bank Watch

Bank of Israel

October 19, 2017

Israel’s key interest rate was left at 0.1% as expected. A released statement observed continuing sub-target inflation and a recently firmer shekel. Growth is in line with its potential non-inflationary pace and also more balanced than before. Home price inflation is a lessening concern to officials. The central bank interest rate has been at 0.1% […] More

Central Bank Watch

Bank Indonesia

October 19, 2017

Indonesia’s 4.25% seven-day reverse repo rate, which had been cut by 25 basis points each at successive previous reviews in August and September, was this time left unchanged, as too were the 3.5%overnight deposit facility rate and 5.0% lending facility rate. In September, officials had indicated that the main interest rate had reached a “neutral” […] More

Central Bank Watch

Bank of Korea

October 19, 2017

Although keeping the Bank of Korea Base Rate unchanged at 1.25%, its level since a 25-basis point cut in June 2016, the vote to do so was not unanimous and an accompanying statement revised projected GDP growth and inflation slightly upward. Exports and business investment are performing well. Labor market conditions have improved. There are […] More

Uncategorized

Market Pessimism Intrudes

October 19, 2017

Yesterday’s stock market optimism swung into reverse. Data showing softer Chinese growth in 3Q hit the Hong Kong market, where the Hang Seng index fell 2.2%. The Spanish government of Prime Minister Rajoy invoked previously unused constitutional powers to revoke Catalonia’s autonomy. In response, stocks in Europe are down 2.2% in Greece, 1.3% in Italy, […] More

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