Central Bank Watch
Twelfth Straight Interest Rate Cut in Hungary
July 23, 2013
Magyar Nemzeti Bank’s two-week repo rate was sliced to 4.0%. This was the 12th monthly reduction in a row, a streak that started last August with a cut to 6.75% from 7.0%. The severity of Hungary’s recession seems to have lessened, and inflation of 1.9% last month remained below the 3.0% target. The dollar hasn’t […] More
Central Bank Watch
Central Bank of the Republic of Turkey
July 23, 2013
Turkish inflation had spiked more than a percentage point to 8.3% in June, fed partly by food and energy pressures, and Turkish monetary officials responded with a 75-basis point increase of the overnight lending rate to 7.25%. The overnight borrowing rate was left at 3.5%. Both rates had been cut earlier this year, including 50-bp […] More
New Overnight Developments Abroad - Daily Update
Mixed Data and a Couple of Central Bank Meetings
July 23, 2013
The dollar rose 0.4% against the yen, drawing very near the 100 threshold. The dollar otherwise has dropped 0.3% against the loonie, which was supported by strong Canadian retail sales figures. The dollar has firmed 0.2% against the Swiss franc and 0.1% versus the kiwi and Aussie dollar but has edged down 0.1% relative to […] More
