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
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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
