Central Bank Watch
New Zealand Official Cash Rate Unchanged
October 27, 2010
The Reserve Bank of New Zealand left the OCR rate at 3.0% as it had also done on September 16 following back-to-back increases of 25 basis points each in June and July. A statement from the RBNZ noted some weaker-than-projected data released recently but believes the recovery is intact because of coming support form high […] More
Central Bank Watch
Polish Reference Rate Not Changed But Reserve Requirement Hiked
October 27, 2010
The Narodowy Bank retained a 3.5%, which is the level of the main reference rate since a 25-basis point cut in June 2009 culminated 250 basis points of reduction since November 2008. A statement from Polish central bank officials gave three reasons for not increasing the key interest rate: Limited domestic price and wage pressures. […] More
Central Bank Watch
Norwegian Policy Interest Rate Left at 2.0%
October 27, 2010
As expected, the Norges Bank did not change monetary policy at this time. A released statement implied that further changes are unlikely before March and that the subsequent upward path toward more normal interest rate levels will commence later than assumed in the June Policy Report because inflation since then as been lower than expected. […] More
New Overnight Developments Abroad - Daily Update
Dollar and Bond Yields Up, Stocks Down
October 27, 2010
The dollar advanced 1.3% against the Australian dollar, 0.4% versus the Canadian and New Zealand dollars, 0.3% relative to the Chinese yuan, and 0.2% against the euro and Swiss franc. The dollar is unchanged against sterling and the yen. Ten-year sovereign bond yields have climbed five basis points in Japan and Germany and four basis […] More
