Central Bank Watch
Central Reserve Bank of Peru’s Main Interest Rate Unchanged since May 2011
December 6, 2012
Peruvian monetary officials defended today’s decision not to change the overnight interest rate of 4.25% on the following grounds: “inflation continues shrinking, having returned to the target range to partially reverse shocks from the supply side, in an internal environment characterized by a close to its potential economic growth and a still highly uncertain external […] More
Central Bank Watch
ECB Discussed but Didn’t Cut Interest Rates
December 6, 2012
The ECB’s refinancing rate was left unchanged as expected at 0.75% and will continue to be flanked by a zero deposit rate and a 1.5% marginal lending rate. This was the decision that analysts were expecting. Rates have been at these levels since a reduction at the monthly meeting in early July. Pdt in Q&A […] More
Central Bank Watch
No Changes from the Bank of England
December 6, 2012
The Monetary Policy Committee released its boilerplate statement for times when it doesn’t change policy, stating the bare facts, providing no opinions and deferring that function to minutes of this week’s meeting that will be released on the 19th of this month. At the prior meeting in November, David Miles had dissented from the majority, […] More
New Overnight Developments Abroad - Daily Update
Another Day Closer to Yearend and a Downgrade of Greek Debt
December 6, 2012
The currency markets are mostly calm. The dollar is unchanged against the euro and loonie, down 0.1% relative to the yen and sterling, and up 0.1% versus the yuan and Swiss franc. The U.S. currency has lost 0.4% against the kiwi and 0.3% versus the Australian dollar. Stock market movements overnight have been diverse. Japan’s […] More
