Archive for July 18th, 2013

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