Archive for November 15th, 2018

Central Bank Watch

A Fifth Straight Filipino Central Bank Interest Rate Hike

November 15, 2018

A desire to counter perceived upside inflation risks such as┬áthe rice tariffication bill, the suspension of the oil excise tax, wage pressures, and elevated inflation expectations justified a further hike of Bangko Sentral ng Pilipinas’ overnight reverse repo rate to 4.75% from 4.5%, according to a released central bank statement. Officials also felt obliged to […] More

Central Bank Watch

Bank Indonesia Tightens Stance Further

November 15, 2018

The Indonesian central bank board of governors announced several changes: The 7-day reverse repo rate, deposit facility rate, and lending facility rate were hiked 25 basis points to 6.0%, 5.25%, and 6.75%. The key reverse repo rate has been lifted 7 times since mid-May for a total of 2 percentage points. Reserve requirements were also […] More

New Overnight Developments Abroad - Daily Update

Down Goes the British Pound

November 15, 2018

With British Prime Minister Theresa May facing a vote of no confidence and several of her cabinet ministers resigning in protest against her Brexit deal, sterling slumped 1.5% overnight against both the dollar and euro. Weak British retail sales data were also released today, showing an unexpected 0.5% on-month drop in total sales (+2.2% on […] More

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