National Bank of Serbia
Central Bank Rate Cut of 50 Basis Points in Serbia
March 12, 2020
The National Bank of Serbia’s key policy rate was cut 50 basis points to 1.75% earlier today. A statement from the central bank’s Executive Board justifies the reduction as a “timely and adequate response to heightened uncertainty in the international environment triggered by the spread of Covid-19” and observes that several influential central banks like […] More
Coronavirus Takes Turn for the Worse, and British Cabinet Reshuffled Significantly
February 13, 2020
Thursday has been a difficult day in world financial markets, absorbing the news of an exponential increase in suspected coronavirus cases, as well as the unexpected quitting of British Chancellor of the Exchequer Javid and departure of several other members of Prime Minister Johnson’s cabinet. Share prices tumbled 1.6% in Great Britain, 1.2% in Spain, […] More
Many Data Releases… Stock Prices Up
January 9, 2020
A mixed dollar overnight leaves the U.S. currency unchanged against the euro, up 0.5% versus the kiwi, 0.4% relative to sterling, 0.3% vis-a-vis the yen, 0.2% against the loonie and 0.1% versus the Aussie dollar but down 0.2% against the yuan and peso and 0.1% softer versus the Swiss franc. Share prices advanced 2.3% in […] More
British Election Lifts Sterling… U.S.-Sino Phase I Progress Boosts Stocks
December 13, 2019
Boris Johnson’s Conservative Party won 365 parliamentary seats, clearing the majority threshold by 39 seats. The Conservatives won 43.6% of the votes to Labour’s 32.2% share. Sterling in response catapulted to an 18-month high of $1.3515 but has settled back to a still impressive 1.3% net overnight advance against the dollar. The greenback also touched […] More
Serbian Central Bank Rate Cut
November 7, 2019
the National Bank of Serbia’s executive board did make a change in its policy rate, cutting such by 25 basis points to 2.25%. This is the third such cut since July. A statement of explanation cites weakening inflationary pressure and the easing actions of other central banks but asserts that Serbian domestic macroeconomic indicators continue […] More
Risk Back On
November 7, 2019
A claim was made by a Chinese Commerce Ministry spokesman that the U.S. and China have agreed to a phased and mutual reduction of trade deficits but only contingent on a trade deal being done. Stock markets are up 0.7% in Germany, 1.0% in Australia, 0.7% in Singapore, 0.6% in Hong Kong, 0.5% in India, […] More
Dollar and Yen Fell in Tandem
October 10, 2019
The dollar and yen dropped overnight by 0.6% against the New Zealand and Australian currencies, 0.5% relative to the euro, 0.3% versus the Swiss franc and peso, 0.2% relative to the loonie and sterling and 0.1% against the yuan. Ten-year U.S. Treasury and Japanese JGB yields are unchanged, whereas their German and British counterparts increased […] More
Markets React to ECB Stimulus, U.S. CPI Data, and Continuing Hopes on Trade Talks
September 12, 2019
Policymakers at the European Central Bank as expected cut the deposit rate by 10 basis points to minus 0.50%, announced an open-ended asset purchase program to start in November at EUR 20 billion per month, said targeted LTRO operations will carry the average deposit rate, and introduced a a 2-tiered system of reserve remuneration in […] More
Second Serbian Central Bank Rate Cut of 2019 Announced Today
August 8, 2019
The National Bank of Serbia’s Executive Board lowered the policy interest rate by 25 basis points. There had also been a reduction of that size last month. At 2.5% the rate is at a 10+ year low. But officials stressed a cautious approach in light of “global trade tensions, a possibility that monetary policy decisions […] More
More Central Banks Cut Interest Rates, Persistent Trade Tensions, and Lower Inflation
August 8, 2019
Central bank interest rates were cut by 25 basis points today in the Philippines and Serbia. Earlier this week, rates had been reduced by central banks in India (35 bps), Thailand (25 bps), and New Zealand (50 bps). The common thread in these moves is the trade war unleashed by U.S. President Trump, the weaker […] More
