Central Bank Watch
European Central Bank Maintains Ultra Easy Stance
December 12, 2019
The European Central Bank retained its interest rates of zero percent on the repo, a -0.5% overnight deposit rate and a 0.25% marginal lending rate. This was the first scheduled policy review chaired by Christine Lagarde, and the released statement contained the following compelling forward guidance on interest rates and quantitative stimulus: The Governing Council […] More
Central Bank Watch
Central Bank of Brazil
December 12, 2019
The Central Bank of Brazil’s Selic interest rate was cut by 50 basis points to 4.5%. This was the fourth recent reduction of a half percentage point following moves in July, September, and November. A released statement notes the decision was made unanimously and talks about comfortable levels of core inflation and confidence that inflation […] More
Central Bank Watch
National Bank of Ukraine
December 12, 2019
Monetary officials at the National Bank of Ukraine implemented their fifth interest rate cut since April, accelerating the size of the reduction to 200 basis points after cuts of 100 bps in October and 50 bps each in September, July and April. The rate now falls to 13.5%. Inflation in Ukraine at 5.1% has fallen […] More
Central Bank Watch
Turkish Monetary Policy Eased Further
December 12, 2019
The Central Bank of the Republic of Turkey reduced its key interest rate to 12% from 14% today, citing weak domestic investment demand, a weakening global economic outlook, significant improvement in the current account, a stable lira that has enabled Turkish inflation to recede, a widespread drop in expected inflation, and low global price pressures. […] More
New Overnight Developments Abroad - Daily Update
Central Banks, Economic Data Surprises, and British Voters in the News This Thursday
December 12, 2019
Polls in Britain’s parliamentary election today will close at 22:00 GMT 17:00 EST. The fate of Brexit is at stake. U.S. producer prices stayed unchanged in November, defying expectations of an increase and leaving the 12-month increase at 1.1%. An even bigger surprise was a leap in new jobless insurance claims last week to 252k, […] More
