Central Bank Watch
Turkish Monetary Policy Rates Unchanged
March 27, 2012
The Central Bank of the Republic of Turkey left unchanged the 5.75% 7-day repo rate, the 11.5% overnight lending rate, which had been cut in February by 100 basis points, and the 5.0% overnight borrowing rate, which has been at that level since August 2011. The 7-day repo rate has been at a record low […] More
Central Bank Watch
Hungary’s Monetary Policy Left Unchanged
March 27, 2012
By majority vote, the Monetary Council of Magyar Nemzeti Bank retained the base rate of 7.0%, its level since a 50-basis point increase in December. That hike culminated a 5-move, 175-bp tightening begun in November 2010. The freeze on policy has occurred despite a greater-than-anticipated acceleration of on-year CPI inflation in Hungary from 3.9% for […] More
New Overnight Developments Abroad - Daily Update
Marking Time Ahead of U.S. Data Releases
March 27, 2012
Remarks by Fed Chairman Bernanke on Monday reaffirming no predisposition to abort the ultra-easy policy stance sooner than implied previously had an electrifying impact on financial markets, boosting the commodities and equities and dampening the dollar and bond yields. The S&P closed at its best level since mid-May 2008. Overnight in the Pacific Rim, share […] More
