Archive for May 27th, 2013

Central Bank Watch

Bank of Israel Cuts Policy Interest Rate for Second Time this Month

May 27, 2013

The Bank of Israel had implemented six rate cuts of 25 basis points apiece from September 2011 through end-2012 but none during the first four months of 2013.  An unscheduled seventh reduction of 25 bps to 1.5% was announced on May 13 in response to undesirable shekel appreciation and sub-target inflation.  In mid-May, officials also […] More

New Overnight Developments Abroad - Daily Update

Some Japanese Volatility to Disturb an Otherwise Quiet Monday

May 27, 2013

Markets are closed today in the United States for Memorial Day and the United Kingdom for a spring bank holiday. Japan’s Nikkei-225 equity index tumbled 3.2%, and the 10-year JGB yield fell by four basis points to 0.82%.  The yen rose 0.4% against the dollar. Minutes from the Bank of Japan’s April 26 Policy Board […] More