Central Bank Watch
No Central Bank Rate Change in Sri Lanka
February 12, 2013
Sri Lankan central bank authorities have retained a 7.5% repo rate (and 9.5% reverse repo), just as they decided in January. The rates were cut by 25 basis points in December once progress had been observed in cutting non-oil import growth and domestic credit expansion. Those were the goals sought when central bank rates were […] More
Central Bank Watch
Bank Rossii
February 12, 2013
The Bank of Russia’s Board of Directors kept its refinancing rate at 8.25%, the level since a 25-basis point hike last September and also the level prior to a 25-bp cut in December 2011. A statement from monetary officials notes that CPI inflation of 7.1% currently mostly reflects food price pressures but predicts above-target inflation […] More
Central Bank Watch
Bank Indonesia Retains 5.75% Record Low Reference Interest Rate
February 12, 2013
The benchmark interest rate has been at 5.75% since a reduction of 25 basis points in February 2012, which was the third cut following ones of 25 bps in October 2011 and 50 bps in December 2011. 300 basis points of easing that began in December 2008 ended in August 2009 at 6.5%. Two years […] More
New Overnight Developments Abroad - Daily Update
Verbal Support for Weaker Yen, Soft Dollar, and Firm Euro
February 12, 2013
G7 finance ministers and central bankers released a standard statement on FX policy that failed to criticize Japan: “We, the G7 Ministers and Governors, reaffirm our longstanding commitment to market determined exchange rates and to consult closely in regard to actions in foreign exchange markets. We reaffirm that our fiscal and monetary policies have been […] More
