Central Bank Watch
550-Basis Point Hike in Ukraine’s Central Bank Discount Rate
February 5, 2015
In addition to the increased key interest rate to 19.5% from 14.0% previously, monetary officials are “scrapping the practice of holding foreign exchange auctions (effective from February 5, 2015) and setting the indicative hryvnia exchange rate. The hryvnia exchange rate will be set by banks based on the objective parameters of market demand and supply.” […] More
Central Bank Watch
A Dovish Statement from the Czech National Bank
February 5, 2015
Czech National Bank officials decided unanimously to retain a virtual zero interest rate policy (0.05% to be precise) and an exchange rate policy that is using intervention as needed to asymmetrically prevent the koruna from appreciating beyond 27 per euro. Moreover, “The Czech National Bank stands ready to move the level of the exchange rate […] More
Central Bank Watch
Bank of England
February 5, 2015
Another monthly policy meeting of the Monetary Policy Committee came and went without a change. The Bank rate has been at 0.5% since March 2009. Quantitative stimulus commenced at the time, but the last hike in the size of the asset purchase program was announced in July 2012, and the GBP 375 billion limit on […] More
New Overnight Developments Abroad - Daily Update
Upbeat Winter EU Commission Outlook Boosts Euro
February 5, 2015
The euro has risen 0.8% against the dollar, overcoming the hard line taken by the ECB on acceptable Greek collateral for debt funding. The EU Commission released new GDP forecasts, showing positive projected growth by all member states for the first time since 2007. Euro area growth this year was bumped higher to 1.3% from […] More
