Foreign Exchange Insights and Next Week
Next Week
March 15, 2013
On the central banking beat, monetary policy meetings are scheduled in South Africa, Iceland, India and the United States. The FOMC meeting will be followed by a Bernanke press conference and the unveiling of new macroeconomic forecasts. Central bank Bulletins will be published in Switzerland and Australia, and minutes from the March Bank of England […] More
Central Bank Watch
Russian Interest Rate Left Unchanged
March 15, 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 on Bank Rossii’s web site calls “the current level of money market interest rates appropriate for achieving the balance […] More
Central Bank Watch
Central Bank of Chile: Again No Rate Change
March 15, 2013
Chile’s monetary policy interest rate was kept at 5.0%, the level since a 25-basis point cut authorized in January 2012, which at the time was the first change in over two years. In its released statement, Central Bank of Chile officials note that Domestic demand and output have recently exceeded what officials were assuming. Chile […] More
New Overnight Developments Abroad - Daily Update
Friday Profit-Taking
March 15, 2013
The dollar and stocks are lower this Ides of March. The dollar fell 0.5% against the yen, euro and Swiss franc but is unchanged versus the yen and yuan. The greenback dipped 0.1% against the loonie and kiwi and firmed 0.1% relative to the Australian dollar. Whereas Japan’s sizzling Nikkei rally was extended by 1.5%, […] More
