Central Bank Watch
Swedish Riksbank Retains Accommodative Monetary Stance
October 25, 2012
The Executive Board’s latest economic review of Sweden resulted in downward revisions to projected growth and inflation for 2012, 2013, and 2014 as shown below. Inflation will continue to undershoot the 2% target by a wide margin next year because of “low cost pressures in recent years and earlier strengthening of the krona.” 2012 […] More
Central Bank Watch
Filipino Central Bank Interest Rates Cut by 25 Basis Points
October 25, 2012
Policymakers at Bangko Sentral ng Pilipinas have reduced the overnight borrowing and lending rates by 25 basis points to 3.5% and 5.5%, respectively. This easing follows three similarly-sized adjustments made this year in January, March and July. A new statement calls the inflation outlook “manageable”, with the 12-month CPI projected to stay within the 3-5% […] More
New Overnight Developments Abroad - Daily Update
Sterling Buoyed by Unexpectedly Strong British GDP Data
October 25, 2012
Sterling strengthened, and the yen weakened. The pound gained 0.6% against the dollar. The yen is 0.4% softer and is holding an 80 per dollar handle. The U.S. currency has fallen 0.3% against the Canadian, Australian and New Zealand dollars and by 0.2% relative to the euro and Swiss franc. EUR/USD is hovering around 1.3000. […] More
