Archive for November 7th, 2018

Central Bank Watch

Iceland’s Central Bank Tightens and Suggest More Restraint May Follow

November 7, 2018

A 25 basis point increase of the Bank of Iceland’s 7-day term rate to 4.50% was the first tightening since November 2015. In between, the benchmark had been reduced by 50 basis points in August 2016 and 25 basis point each in May 2017, June 2017, and October 2017. Today’s rate reversal comes in response […] More

New Overnight Developments Abroad - Daily Update

Dollar Down Broadly after Mixed U.S. Election Result

November 7, 2018

The dollar traded down overnight by 1.7% against the kiwi, 1.0% versus the Australian dollar, 0.7% relative to the euro and Swiss franc, 0.5% vis-a-vis the peso and sterling, 0.4% against the loonie, 0.3% versus the yen and 0.1% against the yuan. Share prices fell in Asia but have risen in Europe. Market losses totaled […] More

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