Central Bank Watch
No Change in 5.0% Chilean Monetary Policy Rate
April 17, 2012
As expected, the Central Bank of Chile reference interest rate was retained at 5.0%. Such had been cut by 25 basis points in January, that being the first reduction since July 2009. But no follow-through easing has occurred, and the balance of risks regarding the direction of the next policy move has shifted since January. […] More
Central Bank Watch
Bank of Canada Interest Rate Statement: Less Dovish Tone
April 17, 2012
As expected, the Bank of Canada Board voted to retain a 1.0% overnight money target. That’s been the goal since the third of three straight tightenings in September 2010. The newsworthy component of a statement released by officials is a notice that the end of 19-month-long policy pause may be nearing. For the first time […] More
Central Bank Watch
First Indian Interest Rate Cut Since April 2009
April 17, 2012
The Reserve Bank of India cut its repo rate and reverse repo rate each by 50 basis points to 8.0% and 7.0%. Those reductions were twice as big as forecast and marked the first cuts since a 25-bp move in April 2009 culminated 425 basis points of easing begun in October 2008. In between then […] More
New Overnight Developments Abroad - Daily Update
Momentum Shift in Europe
April 17, 2012
A troubled investor mood persisted in the Pacific Rim where share prices fell by 1.9% in Taiwan, 1.3% in China, 0.8% in Thailand, 0.4% in South Korea, 0.2% in Singapore and 0.1% in Japan. The U.S. secret service scandal rippled further. But news out of Europe kindled the willingness to take risk. The Paris Cac, […] More
