Deeper Analysis
Comment on Revised U.S. GDP
March 28, 2019
U.S. quarterly GDP growth in the final quarter of 2018 got revised downward by 0.4 percentage points to 2.2% annualized. Despite the positive spin from government officials, that’s below the average 2.7% per annum pace of the whole Trump presidency thus far. Moreover, personal consumption, which comprises about 70% of GDP, contributed disproportionately by accounting […] More
Central Bank Watch
Czech National Bank Policy Rate Unchanged
March 28, 2019
The Czech two-week repo rate was lifted from a low of 0.05% by 45 basis points in 2017 and 125 basis points last year to its current level of 1.75%. Two of seven rate policy deciders, who favored another 25 basis point hike now, were overruled by a majority to leave the key interest rate […] More
Central Bank Watch
South African Reserve Bank Repo Rate Left Unchanged as Expected at 6.75%
March 28, 2019
Despite a 6+% decline since the prior policy review in January, South Africa’s Monetary Policy Committee decided unanimously to keep the repo rate unchanged at 6.75% after its second scheduled review of 2019. The rate had been raised by 25 basis points at the final 2018 policy meeting four months ago but kept steady after […] More
New Overnight Developments Abroad - Daily Update
Weaker Turkish, South African and British Currencies
March 28, 2019
The Turkish lira slumped 5% against the dollar overnight when Turkish reserves data showed a large drop from previous intervention to support that currency. Still no word from the South African Reserve Bank’s monetary policy review, but analysts aren’t anticipating a rate hike. However, there is concern ahead of Moody’s sovereign debt call on South […] More
