Central Bank Watch
Bank of Israel Raised Policy Rate to 1.0% from 0.75%
November 23, 2009
This 25-basis point tightening had not been anticipated and followed no rate change at the September or October central bank meetings. However, this was Israel’s second 25-bp rate hike of the cycle, matching the Reserve Bank of Australia’s two 25-bp increases on October 6 and November 3. Norway’s central bank has lifted its policy rate […] More
Central Bank Watch
Hungarian Central Bank Rate Sliced Another 50 Basis Points
November 23, 2009
Global monetary policies are no longer moving in the same direction. In Hungary, where domestic demand continues to slump significantly and sub-target inflation in 2010 is possible as a result, the Magyar Nemzeti Bank cut its benchmark policy rate on two-week bills by an as-expected further 50 basis points to 6.5%, which is a 41-month […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: Gold Stronger While Dollar and Yen Softness Resumed
November 23, 2009
With Japanese markets closed for Labor Thanksgiving, the dollar and yen moved downward in tandem against commodity-sensitive currencies by 1.3% against the kiwi, 1.2% against the Canadian dollar, and 1.0% against the Aussie dollar. The greenback and yen also lost 0.8% against the euro and Swissy and 0.6% relative to sterling. Traders attributed renewed dollar […] More
