Archive for February 20th, 2020

Central Bank Watch

Indonesian Monetary Policy Eased

February 20, 2020

Concern over the potential impact of the coronavirus also elicited an unexpected 25-basis point cut in Indonesia’s 7-day repo rate to 4.75% and complementary cuts of same size in Bank Indonesia’s deposit facility rate and lending facility rate to 4.0% and 5.50%, respectively. The action was characterized as a preemptive step to counteract any virus-related […] More

Central Bank Watch

Prime Loan Rate Cut in China

February 20, 2020

In response to the coronavirus outbreak in China that slammed economic activity, the central bank there cut its 5-year prime loan rate by five basis points to 4.75% and its one-year prime loan rate by 10 bps to 4.05%. The one year LPR had not been changed since a 5-basis point reduction in November and […] More

New Overnight Developments Abroad - Daily Update

Solid Day for the Dollar But Stocks Struggle in Several Markets

February 20, 2020

The euro slid overnight to a 1-year low of $1.0777, and the dollar also hit a 42-week high against the yen of 112.18 and to close to an 11-year peak of 0.6617 per Australian dollar. Sterling fell to $1.2849, a quarterly low, and the yuan weakened 0.4% and past the 7.000 per dollar threshold. The […] More

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