Archive for November 8th, 2013

Foreign Exchange Insights and Next Week

Next Week

November 8, 2013

On the central banking beat, Bank Indonesia and the Bank of Korea hold interest rate policy meetings next week.  Janet Yellen’s senate confirmation hearings to be the next Federal Reserve Chairperson begins on Thursday.  Other Fed officials speaking in public during the week include Bernanke, Plosser, Kocherlakota, Lockhart, Fisher, and Pianalto.  Bank of England Governor […] More

Central Bank Watch

National Bank of Serbia Extends Run of Rate Cuts

November 8, 2013

A reduction of 50 basis points in Serbia’s one-week repo rate to 10.0% brings the cumulative drop since May to 175 basis points.  A released statement predicts inflation dropping soon to the low end of the target range also observes a diminished current account deficit, lower imported agricultural prices, planned fiscal consolidation, lower aggregate demand, […] More


Central Reserve Bank of Peru

November 8, 2013

The policy interest rate of Peru’s central bank was cut late Thursday for the first time since August 2009 and changed for the first time since a 25-basis point hike in May 2011.  The rate level now becomes 4.0%, 25 basis points less than previously.  Analysts did not anticipate this change, which in a statement […] More

New Overnight Developments Abroad - Daily Update

Steadier Currency Landscape

November 8, 2013

The euro sank yesterday to as low as $1.3294 after the surprise ECB rate cut, but the lows didn’t hold.  Key currency relationships are steady today.  The euro is at $1.3419 and unchanged from Thursday’s close.  The dollar is also unchanged against the loonie, Australian dollar, sterling and yuan.  The greenback has edged up 0.1% […] More