Central Bank Watch
Reserve Bank of Australia Adopts Neutral Interest Rate Guidance
February 4, 2014
The RBA Board engineered eight reductions of the official cash rate spaced between November 2011 and August 2013 and totaling 225 basis points in all. The 2.5% OCR level over the past half year represented a record low, yet the ensuing monthly policy announcements from September through December left the door open to possible additional […] More
Central Bank Watch
National Bank of Romania Implements Second Rate Cut of 2014
February 4, 2014
Romania’s monetary policy rate was reduced by 400 basis points in 2009-10, another combined 100 bps in 2011-12, 125 bps in the second half of 2013, and in each of the first two months of 2014 by 25 bps each. The rate now becomes a record low 3.5% compared to 10.25% at the end of […] More
New Overnight Developments Abroad - Daily Update
Nikkei Plunges 4.2%, Greatest Daily Decline since August 16th
February 4, 2014
With Chinese markets still closed for the Lunar New Year, share prices fell 4.2% (or 611 points) in Japan, 2.9% in Hong Kong, 1.8% in Australia, 1.7% in South Korea, 1.0% in New Zealand, and 0.8% in Singapore and Indonesia. In Europe, the German Dax is down 1.0%, but many other markets have only moderate […] More
