Archive for July 19th, 2012

Central Bank Watch

Central Bank of the Republic of Turkey

July 19, 2012

Turkey’s Monetary Policy Committee left its key rates steady.  In a statement, officials indicated that inflation has been a bit softer than assumed and that a reduced inflation forecast is likely in the future.  The central bank’s one-week benchmark repo rate has been at 5.75% since August 2011.  The overnight lending rate has been at […] More


South African Reserve Bank

July 19, 2012

SARB officials surprised markets with their first repo rate change since November 2010, a reduction of 50 basis points to 5.0%.  This pre-emptive action came in response to mounting worries that weak European growth will weigh on the South African economy. A statement from the central bank concludes In the light of these developments the […] More

New Overnight Developments Abroad - Daily Update

Slightly Softer Dollar

July 19, 2012

The dollar has fallen by 0.9% and 0.7% against the Australian and New Zealand currencies.  Smaller drops have occurred of 0.3% against the loonie and euro and 0.2% versus the yen, Swiss franc and sterling.  There has been a 0.1% uptick versus the yuan. Share prices rose 2.0% in Australia, 1.7% in Hong Kong, 1.6% […] More