Archive for June 7th, 2018

Central Bank Watch

Turkish Monetary Policy Tightened Significantly Further

June 7, 2018

With PPI inflation over 20% and CPI inflation above 12%, monetary officials raised Turkey’s one-week repo rate by an additional 125 basis points to 17.75%, bringing the increase of that newly designated main policy rate to 9.75 percentage points in the past ten days. In a statement from the Monetary Policy Committee of the Central […] More

Central Bank Watch

National Bank of Serbia

June 7, 2018

Serbia’s key interest rate has been cut twice already this year by 25 basis points each in March and April, but the latest review left the rate unchanged at 3.0%. According to a statement from the Executive Board of the central bank there, the earlier easing should help lift April’s 1.1% on-year inflation rate, and […] More

New Overnight Developments Abroad - Daily Update

Dollar Loses Ground

June 7, 2018

The dollar fell overnight by 0.9% against the euro, 0.5% versus the Swiss franc, 0.2% relative to the yen, and nearly 2% vis-a-vis the Turkish lira. The lira had been slumping this year on rising inflation, increasingly autocratic politics, and the central bank’s pressured neglect of its currency. A 75-basis point interest rate hike in […] More

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