Central Bank Watch
Central Reserve Bank of Peru Retains 4.25% Interest Rate
May 12, 2016
Citing a reversal of expected inflation, food prices and utilities, as well as a recovering in domestic demand, Peruvian monetary policymakers, who had hiked their key interest rate in September and December of 2015 as well as each of the first two months of 2016 — each time by 25 basis points — again saw […] More
Central Bank Watch
Bank of Norway
May 12, 2016
Norway’s key policy rate had been cut to 0.50% from 0.75% at the prior Executive Board meeting in mid-March, but officials then warned against dangers of ultra-low interest rates and promised to exert caution in considering any further stimulus. Sure enough, the the interest rate was kept at 0.50% at this week’s meeting. And a […] More
Central Bank Watch
Filipino Monetary Policy
May 12, 2016
Monetary Board officials at Bangko Sentral ng Pilipinas left the key overnight borrowing and lending rates at 4.0% and 6.0%, assessing the environment for inflation to be still manageable. The last rate changes were made in 2014, a 25-basis point hike in July followed by another in September. Those moves had been the first increases […] More
Central Bank Watch
Bank of England Leaves Policy Settings Unchanged and Warn Sternly about Dangers of Leaving EU
May 12, 2016
Members of the Monetary Policy Committee were unanimous in retaining a 0.5% Bank Rate and GBP 375 billion limit on the asset purchase program. Inflation of 0.5% is only a fourth of the 2.0% medium-term target, and the growth slowdown last quarter is projected to extend further in the current one. Downside external risks will […] More
New Overnight Developments Abroad - Daily Update
Lower Yen and Stronger Norwegian Krone as Oil Recovers
May 12, 2016
WTI oil rose 0.9% to a six-month high above $46/barrel after indications of a diminishing supply glut. Comex gold fell 0.5% overnight. The dollar rebounded 1.4% against the yen. Norway’s krone advanced 1.1% against the euro. The dollar climbed 0.6% relative to the Aussie dollar but is narrowly mixed versus sterling, the Swiss franc, the […] More
