New Overnight Developments Abroad - Daily Update
Monday Monday, Can’t Trust That Day
September 14, 2015
Overnight changes in the U.S. dollar have been comparatively mild. It’s ticked 0.1% higher against the euro and Swissie, unchanged relative to sterling, and down versus the yen, yuan, Aussie, Canadian and New Zealand dollars. Share prices fell 2% in China, 1.6% in Japan and 0.5% in South Korea but rose 1.0% in India, 0.5% […] More
Foreign Exchange Insights and Next Week
Next Week
September 11, 2015
Central Bank Beat: Interest rate meetings in the United States, Switzerland, Indonesia, Thailand, Chile, and Japan. Published minutes of past meetings in Australia and Japan. BOJ Governor Kuroda and Fed Chair Yellen hold press conferences following meetings. Ecofin Meeting: Finance ministers in the eurozone meet this weekend and early in the week. Scheduled U.S. Data […] More
Central Bank Watch
Serbian Interest Rate Cut
September 11, 2015
On September 10, the National Bank of Serbia’s one-week repo rate was cut by 50 basis points for a sixth time since March. The rate has fallen from 8% at the start of the year to the new level of 5.0%. A released statement stresses, weak growth, low inflation, well-anchored expected inflation and the recent […] More
Central Bank Watch
Russian Monetary Easing Paused Because of Ruble Collapse
September 11, 2015
750 basis points of tightening in December 2014 had lifted the Bank of Russia’s repo rate to 17% coming into 2015 and 11.5 percentage points above the mid-2014 level. A shift in monetary gears as the Russian economy spiraled into deep recession say the repo rate reduced five times in the first seven months of […] More
Central Bank Watch
Bank Negara Malaysia’s Monetary Policy Unchanged
September 11, 2015
Malaysia’s overnight money rate target has been at 3.25% for the past 14 months following four 25-basis point hikes between March 2010 and May 2011 and a fifth 25-bp increase engineered some three years later in July 2014. The latest policy meeting concluded with the release of a statement that express satisfaction with the baseline […] More
Central Bank Watch
Bank of Korea Retains 1.5% Seven-Day Repo Rate
September 11, 2015
South Korean monetary policy has an accommodative bias. Four 25-basis point rate cuts since August 2014 and most recently in June of this year have lowered the benchmark to a record low of 1.5%. A released statement after this month’s policy meeting is dovish. South Korean growth was scant and disappointing in the first half […] More
Central Bank Watch
Central Reserve Bank of Peru
September 11, 2015
With higher food costs, a depreciation exchange rate, and upwardly drifting expected inflation lifting actual CPI inflation in Peru, the central bank raised its key interest rate to 3.50% from 3.25%. This monetary policy tightening broke a streak of seven meetings without a policy change and constitutes the first interest rate hike since May 2011. […] More
New Overnight Developments Abroad - Daily Update
Gloom Fails to Lift
September 11, 2015
West Texas Intermediate crude oil fell back 2.4% to $44.80 per barrel. Comex gold is 0.4% lower at $1,126.80. Ten-year British gilt and German bund yields slid two and one basis points. The 10-year JGB stayed at 0.34%. The dollar rose 0.4% against the Swiss franc, 0.2% relative to the loonie, sterling, kiwi and Aussie […] More
Central Bank Watch
Bank of England
September 10, 2015
The Monetary Policy Committee left Its 0.50% Bank Rate as is by a vote of 8-1 and unanimously voted not to change the GBP 375 billion ceiling on the Asset Purchase Program. The interest rate has been 0.50% since March 20009, and the last change of the APP was made in July 2012 and completed […] More
New Overnight Developments Abroad - Daily Update
Continuing Risk Aversion after Poor U.S. Performance Yesterday
September 10, 2015
Stocks fell 1.4% in China and Singapore, 2.2% in Hong Kong, 2.5% in Japan, 0.4% in India, 0.2% in Taiwan and 0.1% in New Zealand and Indonesia. In Europe, equities are down 1.0% in Spain, 0.6% in France and Italy, 0.3% in Germany and the U.K., and 0.2% in Switzerland. The main currency development overnight […] More
