Central Bank Watch
Swedish Riksbank Repo Rate Lifted After Majority Vote
September 2, 2010
The first tightening on July 1 doubled the repo rate to 0.5%, and today’s action raises such by an additional 25 basis points. The Riksbank is one of few central banks to publish a predicted future path of its own policy rate. The trajectory — 0.9% in the fourth quarter, 2.1% in 3Q11, 3.1% in […] More
Central Bank Watch
Malaysian Monetary Tightening Paused
September 2, 2010
Following hikes of 25 basis points each this past March, May and July, Bank Negara Malaysia left its key policy rate at 2.75% today and released a message that called the rate level appropriate and accommodative and did not speak about the need for rate normalization. While domestic demand has been strong, export growth is […] More
Central Bank Watch
ECB Retains Enhanced Credit Support and Key Rate Structure
September 2, 2010
The Governing Council made no change in the configuration of its short-term interest rates. They are a 1.0% refinancing rate flanked symmetrically by a 0.25% deposit rate and a 1.75% marginal lending rate. The refinancing rate has been steady for the past 16 months, having earlier been cut in seven steps from 4.25% prior to […] More
New Overnight Developments Abroad - Daily Update
Pound Softer Following Some Poor Data, Investors Await ECB
September 2, 2010
Sterling fell 0.4% against the dollar, which otherwise is down 0.4% against the kiwi, 0.3% versus the yen and Swissy, and 0.1% against the euro. The dollar edged 0.1% higher against the Aussie dollar and is steady relative to the Canadian dollar. In Britain, the Nationwide house price index dropped 0.9% last month, three times […] More
