Central Bank Watch
A Tightly Contested South African Interest Rate Decision Ends Up Raising the Repo Rate to 6.75% from 6.25%
January 28, 2016
The six-person monetary policy committee at the South African Reserve Bank produced a 3-2-1 vote. Two dissenters preferred to hike the interest rate by only 25 basis points, and another objection was cast in favor of leaving the repo rate unchanged. Officials are mandated to secure price stability but are sensitive to deteriorating growth prospects. […] More
New Overnight Developments Abroad - Daily Update
Grim News Keeps Piling On
January 28, 2016
The Chinese Shanghai Composite Stock index slumped another 2.9% overnight. Markets reacted adversely to the FOMC statement, which did not explicitly back away from December’s message that the fed funds rate is likely to climb a full percentage point in 2016 but indicated that risks are more skewed to the downside now than before. Economic […] More
