Central Bank Watch
Monetary Tightening Begins in New Zealand
March 12, 2014
Governor Wheeler announced a hike in New Zealand’s Official Cash Rate (OCR) from 2.5% to 2.75%. Thus begins the second effort since the Great Recession by the Reserve Bank of New Zealand to nomalize interest rates. The first attempt raised the rate twice by 25 basis points in June and July of 2010 but was […] More
Central Bank Watch
Thailand Gets First Interest Rate Cut in Four Months
March 12, 2014
Thailand’s Monetary Policy Committee cut the Bank of Thailand policy interest rate to 2.0% from 2.25%. Prior reductions of 25 basis points were implemented in November 2011, January and November 2012, and May and November 2013. Before that, officials had raised the key rate in nine moves by 225 bps to 3.5% from 1.25% after […] More
New Overnight Developments Abroad - Daily Update
Risk Aversion Intensifies
March 12, 2014
The Ukraine political standoff, the inexplicable loss of Malaysian Airlines Flight 370, ongoing concern about China’s economic outlook, and disappointment over the lack of more monetary stimulus in Japan have weighed further on financial market sentiment. Share prices in Europe are down by 1.4% in Germany and France and 1.1% in Spain after a 394-point […] More
