Central Bank Watch
Mexican Central Bank Interest Rate Left at 3.75%
May 5, 2016
Officials are watching the peso very carefully. Excessive depreciation could lift expected inflation and thus jeopardize the 3% inflation target. When the peso was dropping sharply in February, the key interest rate was hiked 50 basis points on the 17th at an emergency meeting arranged just 13 days after monetary officials had decided not to […] More
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Czech National Bank
May 5, 2016
The two-week repo rate has been at 0.05%, which Czech monetary officials consider “technical zero” since November 2012, and officials have had a policy of automatic and unlimited intervention since November 2013 to enforce an asymmetric foreign exchange rate policy to prevent appreciation in the koruna beyond CZK 27 per euro. These settings were reaffirmed […] More
Central Bank Watch
National Bank of Romania
May 5, 2016
Romania’s reserve requirement and monetary policy interest rate of 1.75% were not changed at the May meeting of the central bank board. A released statement projected continuing negative CPI inflation (-3.0% in May) until July 2016 and rising thereafter in positive territory up to the upper half of the targeted corridor and reaching the peak […] More
New Overnight Developments Abroad - Daily Update
2.3% Rise in Crude Oil Price Sets the Tone
May 5, 2016
West Texas Intermediate crude oil rose a whole dollar to $44.78 per barrel on news of the lowest U.S. production last week in nineteen months. There was an implicit signal from Saudi Arabia that its official believe oil has bottomed and will rise further. Comex gold is 0.3% higher at $1,278.50 per ounce. Firmer commodity […] More
