Archive for March 19th, 2013

Central Bank Watch

India: Third Interest Rate Cut of the Cycle

March 19, 2013

A 25-basis point rate cut of the Reserve Bank of India’s repo rate to 7.5% and reverse repo to 6.5% announced today follows up on moves in April 2012 of 50 basis points and January 2013 of 25 basis points.  Thirteen previous increases administered in 2010 and 2011 had lifted the repo rate to 8.5% […] More

New Overnight Developments Abroad - Daily Update

Uncertain Cypriot Situation Still Overhanging Markets

March 19, 2013

Despite talk of fine-tuning the proposed Cypriot levy on bank deposits, uncertainty in this area and the risk of copy-cat actions elsewhere in the euro area continue to worry investors worldwide.  A hope exists that small depositors may be exempted, but then big deposits would be penalized more heavily than proposed initially.  The Cypriot parliament […] More