Central Bank Watch
Swiss National Bank Re-introduces a Negative Interest Rate
December 18, 2014
Just a week after a quarterly Swiss monetary policy review that left settings unchanged, Swiss authorities in an unscheduled action adopted a negative 0.25% sight deposit rate, versus zero before, and changed the targeted 3-month Swiss Libor target to -0.75% to +0.25%. The range previously had been 0-0.25% since August 11, 2011, and a one-sided […] More
Central Bank Watch
Taiwanese Central Bank Interest Rates Left Unchanged
December 18, 2014
The discount rate at the Central Bank of The Republic of China has been at 1.875% since five successive 12.5-basis point hikes between June 2010 and June 2011 raised such from a prior 56-year low of 1.25%. The fourteen ensuing quarterly policy reviews have left the rate unchanged, including today’s. A released statement after this […] More
New Overnight Developments Abroad - Daily Update
Fresh Distractions
December 18, 2014
The Yellen press conference gave reassurance to a market unsure of the direction of Fed policy, and it triggered strong gains in stocks and the dollar plus a rebound in long-term interest rates. But now the market has moved on to new distractions. The Swiss National Bank at an unscheduled meeting and just a week […] More
