Archive for January 26th, 2016

Central Bank Watch

Magyar Nemzeti Bank

January 26, 2016

Hungary’s base rate was left at 1.35% as expected after the first monetary council meeting of 2016.  This level represents a record low.  From March through July of last year, it was cut 15 basis points each monthly meeting and dropped to 1.35% from 2.10% as a result.  Today’s statement talks of slower growth, a […] More

New Overnight Developments Abroad - Daily Update

Chinese Equities Record Second Largest Fall This Month

January 26, 2016

The Shanghai Composite index plunged 6.4% to a 13-month low and is now down almost 50% since last June.  Although the yuan is unchanged on the day, there’s much concern that it will devalue considerably further given the very high pace of Chinese capital outflows. In other equity market action around the Pacific Rim, stocks […] More