Central Bank Watch
Chilean Central Bank Signals Rate Hike Very Near
May 13, 2010
The Central Bank of Chile’s monetary policy interest rate has been only 0.5% since July 2009. It fell by 775 basis points via seven consecutive reductions after meetings between January and July of last year. After leaving the rate unchanged on Thursday, officials released a statement that asserted “the Board considers the time to begin […] More
Central Bank Watch
No Change in South Africa’s 6.5% Repo Rate
May 13, 2010
The South African Reserve Bank (SARB) left its benchmark interest rate at a 12-year low of 6.5% after today’s policy meeting, which was the result that analysts expected. A statement from monetary authorities expressed concern about the downside risk to growth posed by Europe’s sovereign debt problems, which has rattled stock prices in South Africa […] More
Central Bank Watch
Malaysian Monetary Policy Tightened Slightly Further
May 13, 2010
Bank Negara Malaysia implemented its second overnight policy rate hike of 25 basis points today. The first move was on March 4. Three cuts earlier cuts were made of 25 bps in November 2008, 75 bps in January 2009 and 50 bps to 2.0% on February 24, 2009. Malaysia has an enviable combination of strong […] More
New Overnight Developments Abroad - Daily Update
Weaker Euro, Pound and Swiss Franc
May 13, 2010
The dollar has advanced 0.4% against sterling, 0.3% versus the Swissy, and 0.2% against the euro, but it has softened against commodity-sensitive currencies like the Aussie dollar (0.6%), kiwi (0.5%) and Canadian dollar (0.6%). Concerns persist that the EU rescue package will not prove adequate and about the impact of coming austerity. Britain’s new Conservative-led […] More
