Central Bank Watch
New Zealand Official Cash Rate Left at 2.5%
April 23, 2013
It’s been more than two years since the last New Zealand central bank interest rate change, a 50-basis point cut in March 2011. Today’s policy statement Retains the previous monetary policy outlook, namely that the Official Cash Rate will likely stay at 2.5% through end-2013. Expresses balanced concerns, first that the housing market is too […] More
Central Bank Watch
Ninth Straight Central Bank Interest Rate Cut in Hungary
April 23, 2013
With political encouragement and newly installed leadership, the two-week repo rate of Magyar Nemzeti Bank was reduced by another 25 basis points to 4.75%. It had been cut by that amount at the eight prior monthly policy meetings as well from a peak of 7.0% prevailing at the start of August 2012. Officials justify a […] More
New Overnight Developments Abroad - Daily Update
Chinese and Ezone Flash PMI Surveys Highlight Weakness
April 23, 2013
HSBC reported a 1.1 decline in China’s manufacturing purchasing managers index. At 50.5 in April, the second quarter began with just marginal growth and reversed an encouraging improvement in March. Preliminary readings on the German, French and Ezone composite, manufacturing and service-sector PMI surveys also were released overnight, and they suggest that the region’s downturn […] More
