Central Bank Watch
Magyar Nemzeti Bank Reduces Incremental Monthly Interest Rate Cut
January 21, 2014
A cut in Hungary’s central bank base rate has been implemented for the 18th straight month. The first dozen starting in August 2012 were by 25 basis points each from a starting level of 7.0%. The next five reductions totaled 20 basis points apiece, cutting the level from 4.0% to 3.0% after the December 17th […] More
Central Bank Watch
Central Bank of the Republic of Turkey
January 21, 2014
Monetary officials again left the one-week repo rate at 4.5%, the overnight lending rate at 7.75%, and the overnight borrowing rate at 3.5%. The most recent changes in these interest rates were a 50-basis point cut in the repo rate and overnight borrowing rate last May and hikes of 75 basis points last July followed […] More
New Overnight Developments Abroad - Daily Update
Dollar Strengthening as 3-Day U.S. Holiday Weekend Ends
January 21, 2014
U.S. markets will reopen following the MLK holiday, but activity will continue to be dampened by a big storm in the Northeast. The dollar gained overnight by 0.7% against the kiwi, 0.5% relative to the yen, loonie and Swiss franc, and 0.3% versus the euro and Australian dollar. The Canadian dollar weakened through the 1.1000 […] More
