Archive for February 27th, 2018

Central Bank Watch

Powell Testimony

February 27, 2018

By law, the Federal Reserve Chair is required to testify before congressional committees (House Financial Services and Senate Banking) twice a year on the economy, monetary policy and anything else legislators might wish to ask. The so-called Humphrey-Hawkins testimony, named after the sponsors of the bill that made this requirement, is done in February and […] More

Central Bank Watch

Central Bank of Hungary

February 27, 2018

At Magyar Nemzeti Bank, the Base Rate has been at 0.90% since a 15-basis point cut in May 2016, and the overnight deposit rate has been at minus 0.15% since a 10-basis point cut in September 2017. They will remain at those levels after the latest policy review by the Monetary Council. Although real economic […] More

Central Bank Watch

Bank of Israel

February 27, 2018

Although Israel’s central bank interest rate has been only 0.10% since a 15-basis point reduction in February 2015 and a combined three percentage points of rate cuts over the prior four years, CPI inflation is currently below target and very low. According to a released statement, however, “in the past month inflation expectations increased, the […] More

Central Bank Watch

Bank of Korea

February 27, 2018

South Korea’s seven-day repo rate had been at 1.25% from June 2016 until a 25-basis point increase three months ago, which was the first hike since 2011. A unanimous vote kept the rate at 1.5% in the last meeting of Governor Lee’s 4-year term. Governors rarely serve more than one term. A statement released by […] More

New Overnight Developments Abroad - Daily Update

Softer Bond and Stock Values Ahead of Powell Testimony

February 27, 2018

Monday saw a big U.S. stock market rally, but equities overnight fell in contrast by 1.1% in China, 1.3% in Hong Kong, 0.3% in India, 0.2% in Taiwan and 0.1% in South Korea. In Europe, stocks so far have declined 1.0% in Greece, 0.5% in Switzerland, and 0.3% in Germany. A notable exception to the […] More

css.php