Central Bank Watch
More Dovish Language from the Bank of Canada
October 23, 2013
As expected, Canada’s overnight interest rate was left at 1.0%, its level since a 25-basis point increase in early September 2010. For the second time in this span of 37-1/2 months, officials backed away from signaling explicitly the likelihood of a gradual normalization of policy interest rates in the future. Such a signal was given […] More
Central Bank Watch
No Change in Turkish Monetary Policy Stance but Tighter Bias
October 23, 2013
The Monetary Policy Committee maintained the one-week repo rate at 4.5%, the overnight lending rate at 7.75%, and the overnight borrowing rate at 3.5%. There were no changes either at the previous meeting on September 17. Before that, the overnight lending rate was raised in July and August by a total of 125 basis points; […] More
New Overnight Developments Abroad - Daily Update
Focus Returns to Central Banks
October 23, 2013
Concern persisted overnight that the People’s Bank of China is poised to diminish injections of liquidity to counter property price inflation. Short-term market rates are higher there. Bank of England minutes from this month’s earlier policy committee meeting revealed unanimity not to change the asset purchase program limit of GBP 375 billion but a likelihood […] More
