Central Bank Watch
Peru Rate Decision: No Change
December 9, 2010
Following five consecutive monthly increases in Peru’s monetary policy reference rate, there have now been three meetings without a change in the 3.0% rate. The combined increase of 175 basis points reversed a third of the steep reduction of rates during the recession and left the rate at a more normal level. Meanwhile, Peruvian inflation […] More
Central Bank Watch
Brazilian Selic Interest Rate Maintained at 10.75%
December 9, 2010
COPOM, the interest-rate setting committee at the Bank of Brazil, failed to hike its benchmark interest rate further at the third consecutive meeting, matching decions made October 20 and August 31. Before those meetings, three consecutive increases totaling 200 basis points were implemented on April 28, June 9, and July 21. The next announcement is […] More
Central Bank Watch
New Zealand Official Cash Rate Held at 3.0%
December 9, 2010
Like the Bank of Korea, New Zealand’s central bank has so far implemented just two rate increases of 25 basis points each, which were implemented in June and July of this year. Today, as at the previous interest rate policy meetings, no further change in rates was made. A statement from the Reserve Bank of […] More
Central Bank Watch
No Change in South Korean Monetary Policy This Month
December 9, 2010
The Bank of Korea left its seven-day repo rate at 2.5%, having raised such previously only twice and by 50 basis points in all, which is less than many other central banks in Asia. Those advances of 25 basis points each were implemented in July and November of this year. At 2.50%, the benchmark interest rate […] More
Central Bank Watch
Bank of England Makes No Monetary Policy Change This Month
December 9, 2010
Having made no change in its interest rate or asset purchase settings, the Bank of England’s statement today defers any detailed discussion to minutes due December 22nd. Only then will investors learn what its thinking about economic conditions and prospects or possible future policy biases. The last British base rate cut was made in March 2009 […] More
New Overnight Developments Abroad - Daily Update
Signs of Strength Reported in Asia
December 9, 2010
Supported by the recent sharp increase in longer-term U.S. interest rates, the dollar rose overnight by 0.4% against sterling, 0.3% versus the euro and 0.2% relative to the Swiss franc. A stellar Australian jobs report lifted the Aussie dollar by 0.5%, but the kiwi is flat as New Zealand’s central bank signaled a flatter future […] More
