Archive for May 23rd, 2016

Central Bank Watch

Bank of Israel

May 23, 2016

Like the fourteen previous monthly monetary policy meetings, this month’s decision was to keep the key Israeli central bank rate at a lowly 0.1%.  Four four straight calendar years (2011-14), it was reduced by 75 basis points, and those three cumulative percentage points of easing were topped off by a 15-basis point cut in February […] More

Foreign Exchange Insights and Next Week

Currency Management Norms Under Threat

May 23, 2016

A statement released April 15 by G20 finance ministers and central bank governors reaffirmed a position against currency manipulation that represents a coordinated stance that’s been in place already for a long time: Excess volatility and disorderly movements in exchange rates can have adverse implications for economic and financial stability.  We will consult closely on […] More

New Overnight Developments Abroad - Daily Update

A Newsworthy Start to the Week

May 23, 2016

At the weekend meeting in Japan of Group of Seven finance ministers and central bankers, participants disagreed over the yen, expressed concern about Brexit and, more generally, the outlook for global growth, and pledged coordinated effort to prevent the financing of terrorism.  U.S. Treasury Secretary Lew towed the precedent pledge not to engage in competitive […] More