Central Bank Watch
South African Monetary Tightening Paused
May 19, 2016
The South African Reserve Bank’s repo rate had been raised by a percentage point in three moves between January 2014 and July 2015 and lifted by another 100 basis points in three successive monetary policy committee meetings in November 2015, January 2016 and, most recently, March 17, 2016. Today’s decision to leave the repo rate […] More
Central Bank Watch
Bank Indonesia
May 19, 2016
A 6.75% BI has been retained. This was a second straight month without a change in the monetary stance following 25-bp cuts in each of the first three months of 2016. The statement released today suggests that additional cuts could occur. Inflation is within the 1-4% target. The current account deficit is shrinking, and the […] More
Central Bank Watch
Bank Negara Malaysia
May 19, 2016
Malaysia’s monetary policy rate was left at 3.25% as expected. It’s been at 3.25% since a 25-basis point increase in July 2014. There was also 75 basis points of tightening in 2010 and a fourth 25-bp hike in May 2011. A released statement today concluded, “at the current level of the OPR, the stance of […] More
New Overnight Developments Abroad - Daily Update
FOMC Minutes and a Missing Plane Rattle Market Nerves
May 19, 2016
A wide range of commodities have dropped sharply, including overnight declines of 1.5% in gold, 1.9% in oil and over 2.0% in copper. Stocks and bonds also suffered. Share prices dropped 1.3% in New Zealand and Singapore, 1.2% in India, 1.0% in Hong Kong, 0.8% in Taiwan, 0.6% in Indonesia and Australia, and 0.5% in […] More
