Archive for May 20th, 2015

Central Bank Watch

Turkish Monetary Officials Reluctant to Cut Rates Amid Heightened Risks

May 20, 2015

Monetary Policy Committee members chose to leave the central bank’s one-week repo rate at 7.5%, the overnight lending rate at 10.75%, and the overnight borrowing rate at 7.25%.  Consumer prices rose 7.9% in the year to April.  A statement released after today’s policy meeting sets a more cautious tone than government officials seek: Recently elevated […] More

eurozone construction output

Japanese GDP and FOMC Minutes

May 20, 2015

Japanese first-quarter real GDP growth of 2.4% at an annualized rate (SAAR) was the second increase in a row, the best quarter since 1Q14, and faster than street expectations of 1.5%.  Growth last quarter was powered by stronger-than-predicted personal consumption (1.4%) and inventory building that augmented GDP growth by 2.0 percentage points (ppts).  Net exports […] More