Central Bank Watch
A Further Adjustment Made to Turkish Monetary Policy Settings
March 26, 2013
Officials at the Central Bank of the Republic of Turkey cut the overnight lending rate to 7.5% from 8.5% but left the 5.5% one-week repo rate at 5.5%, the overnight borrowing rate at 4.5%, and reserve requirements at 11.5%. The repo rate, which is the main indication of policy, has been 5.5% since a 25-basis […] More
Central Bank Watch
Eighth Straight Month to See a Central Bank Rate Cut in Hungary
March 26, 2013
Under newly appointed Governor Matolcesy, who has surrounded himself with like-minded monetary doves, the monetary council of Magyar Nemzeti Bank implemented another 25-basis point cut of its two-week deposit rate. The new level of 5.0%, down from 7.0% prior to last August, is a record low, eclipsing the 5.25% level in April 2010. The custom […] More
New Overnight Developments Abroad - Daily Update
U.S. to Release Several Indicators Today
March 26, 2013
Misgivings persist over the Cyprus bailout, which continues to be handled clumsily. Banks in that country remain closed today and tomorrow. European finance ministers first suggested the deal might be a trendsetter for other banking systems in trouble but then reverted to calling Cyprus a special case. Attention now shifts to the United States. In […] More
