Central Bank Watch
Peruvian Monetary Policy Remains on Hold
August 9, 2012
The last change of the Central Bank of Peru’s monetary policy interest rate was a 25-basis point hike announced May 12, 2011 to 4.25%. That streak of an unchanged stance extend for yet another month even though July inflation of 3.3% lay above the 1-3% target range. In a statement, officials said that the elevation […] More
Central Bank Watch
Bank Indonesia: No Change This Time
August 9, 2012
Indonesia’s central bank benchmark interest rate was left at 5.75%, the level since a 25-basis point cut back in February. There had also been reductions of 25 bps in October 2011 and 50 bps in November 2011. A statement from officials reiterates points made in July, namely that the present stance is consistent with the […] More
Central Bank Watch
No Rate Change from the Bank of Korea this Month
August 9, 2012
The seven-day repo rate had been cut at the July meeting for the first time since February 2009, but the 3.0% level was retained after today’s Monetary Policy Committee met. A released statement observes a weaker global environment and slower growth as well in South Korea. The output gap between potential and actual GDP will […] More
Central Bank Watch
BOJ Leaves Settings Unchanged
August 9, 2012
After a two-day six hour twelve minute meeting on Wednesday and Thursday, the Bank of Japan’s Policy Board made no changes to its 0-0.1% interest rate target or to the JPY 70 trillion total quantitative stimulus consisting of JPY 45 trillion in asset purchases to be completed by mid-2013 and JPY 25 billion in a […] More
New Overnight Developments Abroad - Daily Update
More Weak Data Reported Around the World
August 9, 2012
China, Japan, Britain and India released data accentuating economic weakness. Central banks in Japan, Indonesia, and Korea left policy stances unchanged. The dollar has risen 0.4% against the euro, Swissie and kiwi. It is up 0.1% versus sterling, down 0.2% against the yen, and unchanged overnight relative to the loonie, Aussie dollar and yuan. Stocks […] More
