Archive for May 20th, 2020

Central Bank Watch

Central Bank of Iceland Eases More Sharply

May 20, 2020

The Central Bank of Iceland’s 7-day term rate has been slashed to 1.0% from 1.75%, bringing this year’s total amount of decline to two percentage points. The intent of today’s action according to a released statement is to promote money velocity and to strengthen policy transmission, as officials also withdrew the offer of 30-day term […] More

Central Bank Watch

Thailand Gets Another Central Bank Interest Rate Cut

May 20, 2020

The Bank of Thailand has implemented its third 25-basis point policy interest rate cut of 2020 and fifth such move since August 2019. The one-week repo rate now becomes 0.50%. There were three dissenters on the policy-deciding 7-person committee who didn’t want this change. A released statement sets the context for this additional easing: ” […] More

New Overnight Developments Abroad - Daily Update

More Central Bank Rate Cuts, Mixed Global Economic Data and a Weaker Dollar

May 20, 2020

The dollar traded down overnight by 1.2% against the peso, 1.0% relative to the kiwi, 0.9% vis-a-vis the Australian dollar, 0.6% versus the Swiss franc, 0.4% against the euro, 0.3% relative to the loonie and 0.1% against sterling. Against the yen, the dollar inched 0.1% higher, but the U.S. currency in trade-weighted terms is close […] More

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