Bank of Thailand

Rate Cuts at the Central Bank of Iceland and The Bank of Thailand

February 5, 2020

The Central Bank of Iceland as expected cut its 7-day term deposit rate by 25 basis points to 2.75%. A total of six 25-bp cuts were enacted during 2019. In a released statement, members of the Monetary Policy Committee cut their projected 2020 growth rate in half¬† to 0.8%, observing weak exports and tighter financial […] More

Continuing Resurgence of Equities and a Moderately Stronger Dollar, Too

February 5, 2020

Share prices climbed overnight by another 1.3% in China, 1.2% in Japan, 1.4% in Singapore, 1.0% in Indonesia and 0.9% in India and New Zealand. European gains thus far amount to 1.4% in Germany, 1.5% in Spain, 0.9% in France, and 0.6% in Great Britain. In the U.S., the DJIA is 1.1% higher, currently, and […] More

Sliding Into Yearend Mode

December 18, 2019

With the yearend holidays fast approaching, it’s hard to identify overriding themes in financial markets. The dollar is mixed, with rises overnight of 0.4% against sterling, 0.2% relative to the euro and 0.1% against the yuan, no net changes versus the Swiss franc and yen, and dips of 0.3% vis-a-vis the kiwi, 0.2% against the […] More

A Steady Dollar

November 6, 2019

The dollar on balance remains near Tuesday closing levels. Gold is 0.3% firmer. The spate of recent increases in 10-year sovereign debt yields was reversed today with 3-basis point declines in U.S. Treasuries and British gilt yields and a dip of 1 basis point in the 10-year German bund yield. The Japanese 10-year JGB yield, […] More

Dollar Up and Stocks Down as Impeachment Inquiry Opens Against Trump

September 25, 2019

House Speaker Pelosi ended her previous resistance to calls for Trump’s impeachment, raising the political risks to both Democrats and Republicans. The United States and Great Britain, which led the free world’s fight against fascism in the 20th century, are now both enmeshed in constitutional crises. Equities fell overnight by 1.3% in South Korea and […] More

Central Banks and Weak European Data in the Spotlight

June 26, 2019

The Central Bank of Iceland’s 7-day term rate has been cut 25 basis points to 3.75% following a 50-basis point reduction at the prior monetary policy review last month. These moves represent a trend reversal from a 25-basis point increase last November.¬† In a released statement explaining the decision, officials anticipate a contraction of domestic […] More

Central Bank of Malaysia Eases Monetary Policy While Bank of Thailand Passes

May 8, 2019

Bank Negara Malaysia’s Overnight Policy Rate was sliced to 3.0%, reversing a 25-basis point hike engineered in January 2018 and restoring the stance that had existed from July 2015 until that change in early 2018. A released statement notes, “there are some signs of tightening of financial conditions. The adjustment to the OPR is therefore […] More

Monetary Policy Reviews, an Intensifying U.S. Political Crisis, Trade Talks, and Some Data Surprises

May 8, 2019

Central bank officials in New Zealand and Malaysia cut their interest rates, while those in Thailand maintained an “accommodative but appropriate” 1.75% rate level. Thailand’s growth outlook was revised downward, but the inflation prognosis wasn’t changed. New Zealand’s official cash rate was lowered 25 basis points to 1.5%. Such had been 1.75% since November 2016. […] More

Financial Market News Cycle Headed by FOMC, Brexit, and U.S./Sino Trade Talks

March 20, 2019

Today’s FOMC announcement at 14:00 EDT (18:00 GMT) will be accompanied by updated forecasts and followed at 14:30 by Chairman Powell’s press conference. Analysts look for scaled-back growth and inflation forecasts, fewer interest rate hikes this year than indicated earlier, and a stop in quantitative tightening. British Prime Minister May is asking for a 3-month […] More

Aussie Dollar Down More than 1% Overnight

February 6, 2019

An overnight speech by Bank of Governor Lowe, not Donald Trump’s delayed State of the Union address, stole the currency market spotlight today. Forward guidance from the Reserve Bank of Australia had for some time pointed to an eventual interest rate increase, but Lowe said that in line with shifting economic data and changing global […] More

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