Central Bank Watch
South African Reserve Bank: No Interest Rate Change Satisfies Expectations
July 18, 2013
The last cut the South African repo was implemented a year ago in July 2012. The decrease of 50 basis points to a 40+ year low of 5.0% culminated a ten-step 700-basis point easing from 12.0% prior to December 2008. South African officials remain constrained by weak economic growth on the one hand and a […] More
New Overnight Developments Abroad - Daily Update
Chinese Yuan Weaker
July 18, 2013
Chinese monthly house price data revealed continuing upward pressure. Related to this, officials set the yuan at its weakest level in ten days. British retail sales figures exhibited greater-than-anticipated strength. Fed Chairman Bernanke will be reprising yesterday’s semi-annual testimony before the Senate Banking Committee today. On Wednesday, he asserted that no pre-announced tapering path of […] More
