Archive for February 21st, 2012

Central Bank Watch

Turkish Central Bank Tweaks Stance for First Time since October

February 21, 2012

The main monetary policy rate, the one-week repo, was left at 5.75%, its level since a 50-basis point cut last August.  The overnight borrowing rate of 5.0% since a 350-bp hike after the August meeting also was not changed.  However, the overnight lending rate was cut to 11.5% from 12.5%, thus narrowing the spread against […] More

New Overnight Developments Abroad - Daily Update

Second Greek Bailout Agreed and Met with Market Skepticism

February 21, 2012

EU finance ministers in Brussels reached agreement on a Greek bailout in the wee early hours of Tuesday.  EUR/USD initially advanced to $1.3294 but settled back to $1.3222 currently, a net overnight loss of 0.2% for the common currency.  The dollar also has climbed 0.9% against the Australian dollar, 0.6% versus the kiwi, 0.3% relative […] More