Foreign Exchange Insights and Next Week
Different Directions So Far in February
February 17, 2015
In this winter of discontent, Greek debt talks are commanding keen attention, but eurozone members, who presumably are susceptible to the forces of contagion have remained surprisingly insulated from market tension. The ECB’s 20-month-long purchase of EUR 60 billion of assets launches next month, and the Swedish Riksbank is the most recent monetary authority to […] More
Central Bank Watch
Bank of Korea
February 17, 2015
The Bank of Korea’s seven-day repo rate will remain at 2.0%, its level since a rate cut of 25 basis points last October. There were also cuts of that size in November 2012, May 2013, and August 2014. Korean economic growth slowed sharply to 0.4% last quarter and CPI inflation of 0.8% lies below 1.0%. […] More
Central Bank Watch
Bank Indonesia’s First Interest Rate Cut since February 2012
February 17, 2015
Since Bank Indonesia’s Board had lifted the BI reference interest rate just three months ago, analysts were surprised by today’s reversal of that 25-basis point tightening. The BI rate returns to 7.5% but remains 275 basis points higher than the 5.75% level after the last rate cut in February 2012. A statement released today by […] More
New Overnight Developments Abroad - Daily Update
Point of No Greek Return Moved to Friday
February 17, 2015
Neither Greek officials nor their creditors have budged. The creditors want an extension of the bailout under existing terms, while Greece wants a bridge loan with new terms. The Greek side walked out of today’s discussions, calling the other side’s proposal unacceptable and absurd. The creditors are giving Greece until Friday to reconsider. Otherwise, Greece […] More
