Central Bank Watch
Turkish Central Bank Defies Government Pressure to Cut Interest Rates Further
October 23, 2014
Turkey’s Monetary Policy Committee kept its one-week repo (8.25%), overnight lending rate (11.25%) and overnight borrowing rate (7.5%) unchanged for a second straight monthly meeting, releasing a statement that affirmed again that “the tight monetary policy stance will be maintained, by keeping a flat yield curve, until there is a significant improvement in the inflation […] More
Central Bank Watch
Bangko Sentral ng Pilipinas: No Further Tightening in the Philippines for Now
October 23, 2014
In a statement released after the latest Filipino central bank policy meeting, the decision not to raise interest rates was justified by a somewhat better inflation outlook. Latest forecasts show a lower inflation path for 2014-2016, reflecting easing pressures on commodity prices. Inflation expectations have also remained broadly stable and aligned to the inflation target. […] More
Central Bank Watch
Norwegian Monetary Policy Remains on Pause
October 23, 2014
The interest rate cuts by the Executive Board of Norges Bank of 50 basis points in December 2011 and 25 bps in March 2012 returned the benchmark to 1.5%, its lowest level since October-November of 2009 and just 25 basis points above the Great Recession low earlier in 2009. No changes have been made at […] More
New Overnight Developments Abroad - Daily Update
Little Growth and Even Less Inflation
October 23, 2014
As on Wednesday, data released today have accentuated subdued growth and disinflation. The kiwi fell 1% against the U.S. dollar, which otherwise shows no change against the loonie, Australian dollar or yuan, downticks of 0.2% relative to the euro and Swiss franc, and rises of 0.3% vis-a-vis the yen and 0.2% against sterling. Share prices […] More
