Central Bank Watch
Polish Monetary Policy Unchanged as Expected
September 29, 2010
Narodowy Bank left its seven-day reference rate at 3.5%, the level since June 2009. A released statement anticipates moderate economic growth, limited wage and price pressures, and the possibility of global growth depressants. Real GDP rose 3.5% in the year to 2Q10, while the latest 12-month rise in consumer prices of 2.0% is a half percentage […] More
Central Bank Watch
Monetary Policy Unchanged in Romania
September 29, 2010
In another monetary policy announcement, the National Bank of Romania retained a key 6.25% policy rate. That has been the level since a 25-basis point reduction on May 4 and cuts of 50 bps in each month of the first calendar quarter of 2010. Monetary policy eased later in Romania than in many other countries. […] More
Central Bank Watch
No Change in Russia’s 7.75% Refinancing Rate
September 29, 2010
The Bank of Russia left its benchmark rate unchanged in spite of an acceleration of inflation to a 12-month pace of 6.7% in September from 6.1% in August, further ruble depreciation and some evidence of a rise in inflation expectations. The bank’s decision was anticipated by analysts. Policy continues to be oriented toward the promotion […] More
Central Bank Watch
State Bank of Pakistan Raises Policy Discount Rate to 13.5% from 13.0%
September 29, 2010
Today’s 50-basis point tightening of Pakistani monetary policy follows an initial rate hike of similar magnitude near end-July. No other rate changes have been made in 2010, and a cut of 50 bps was implemented last November. Catastrophic flooding has aggravated Pakistan’s pre-existing inflation problem. Consumer prices rose 2.5% on month and 13.2% on year […] More
New Overnight Developments Abroad - Daily Update
Euro Above $1.3600
September 29, 2010
The dollar is 0.3% weaker against the euro, Australian dollar and Canadian dollar. The greenback also lost 0.2% against the yen and 0.1% relative to the Chinese yuan but edged up 0.1% versus the Swiss franc. Sterling and the kiwi are unchanged against the dollar. Equities rose 1.2% in Hong Kong, 1.1% in Thailand, 0.7% […] More
