Central Bank Watch
Central bank of Chile: Policy Again Left Unchanged
January 17, 2013
The last change in the monetary policy rate was implemented a year ago with a cut of 25 basis points to 5.0% that reversed the final increase in a string of twelve hikes implemented between June 2010 and June 2011. At only one of those monthly policy meetings did officials fail to tighten policy in […] More
Foreign Exchange Insights and Next Week
Whither EUR/JPY
January 17, 2013
A new leadership team in Japan has used blunt, albeit not always consistent, language to signal a desire for the yen to depreciate. Although governments don’t always get what they want from currency markets, it is as a general matter easier to promote currency weakness than strength. Moreover, the new policymakers inherited a yen that […] More
Central Bank Watch
Central Bank of Sri Lanka
January 17, 2013
Calling their current monetary policy stance “appropriate,” Sri Lankan central bank officials did not implement a follow-up easing this month after having cut the repo and reverse repo rates by 25 basis points each in December to 7.5% and 9.5%. October’s reductions were the first cuts since 2009 and left rate levels 50 basis points […] More
New Overnight Developments Abroad - Daily Update
Volatile Currency Movements Overnight
January 17, 2013
The U.S. dollar has risen 1.1% versus the yen but declined 1.0% against the kiwi. The buck advanced 0.5% against the Aussie dollar but dropped 0.6% against the euro. The dollar also has eased 0.2% vis-a-vis sterling and 0.1% against the Swiss franc. The Swissie is trading weakly against the euro at 1.2439, almost five […] More
