Archive for January 22nd, 2013

Central Bank Watch

Central Bank of the Republic of Turkey Cuts Overnight Interest Rates

January 22, 2013

While keeping the one-week benchmark repo rate unchanged at 5.5%, Turkish monetary officials reduced the overnight lending rate to 8.75% from 9.0% and the overnight borrowing rate to 4.75% from 5.0%.  At the prior meeting on December 18, the repo rate was changed for the first time in sixteen months, dropping 25 basis points.  Following […] More


Bank of Japan Review

January 22, 2013

Reaction to this month’s eagerly awaited central bank meeting has been mixed.  Some analysts have stressed that the accommodative stance was strengthened for a fourth time since September and that the Bank of Japan, like the Fed, has tied the duration of quantitative easing to future economic trends, not some pre-announced date in the future.  […] More

New Overnight Developments Abroad - Daily Update

Yen Reacts Adversely after BoJ Decisions

January 22, 2013

The yen lost 1.1% on balance against the dollar overnight.  The U.S. currency is otherwise down 0.6% against the kiwi, 0.5% versus the Australian dollar, 0.4% relative to the Swissie, 0.3% against sterling, and 0.1% against the euro.  The yuan and loonie are unchanged against the greenback. Share prices fell by 1.1% in the Philippines, […] More