Central Bank Watch
Norges Bank Leaves Key Policy Interest Rate at 1.5% in Norway
December 19, 2012
Norges Bank in October 2009 became the first European central bank to hike its policy interest rate following the Great Recession. Thanks to cuts of 50 basis points a year ago and a further 25 bps in March 2008, however, the current 1.5% level is on net only 25 basis points above the 2009 trough […] More
Central Bank Watch
Virtual Zero Interest Rate Policy Continuing in Czech Republic
December 19, 2012
Officials in the Czech National Bank voted unanimously to leave the two-week repo rate at 0.05%. Such was cut 20 basis points on November 1, 25 bps on September 27, and 25 bps on June 28. Previously, the key central bank was lowered from a pre-Great Recession high of 3.75% to 1.0% by end-2009 and […] More
Central Bank Watch
Unchanged Monetary Stance in Taiwan
December 19, 2012
The Central Bank of the Republic of China’s Board reviews monetary policy on a quarterly basis and has kept a 1.875% discount rate since a 12.5 basis point hike to that level in June 2011. That was the fifth consecutive such increase from a 16-month-long trough of 1.25%. In the Great Recession, the discount rate […] More
New Overnight Developments Abroad - Daily Update
Confidence Continuing to Build into the New Year
December 19, 2012
An optimistic mood surrounds the fiscal cliff talks. The German IFO business climate index rose to a 5-month high in December despite a softer reading on current conditions. Peripheral sovereign debt yields slipped further in the euro area. S&P removed the “Selective Default” designation on Greek debt. Japan’s Nikkei soared 2.4%, its best single session […] More
