Central Bank Watch
Magyar Nemzeti Bank
May 24, 2016
Hungary’s Base Rate was cut to 0.90% from 1.05% in a third consecutive reduction of 15 basis points. The overnight lending rate also got sliced by 15 basis points, while the overnight deposit rate was retained at -0.05%. More important, a statement from Hungary’s Monetary Council signaled an end to the latest string of base […] More
Central Bank Watch
Central Bank of the Republic of Turkey
May 24, 2016
As done at the prior meeting on April 20, monetary officials in Turkey left the one-week repo rate and overnight borrowing rate unchanged at 7.5% and 7.25%, respectively, but lopped 50 basis points off the overnight marginal funding rate to 9.5%. The overnight rate corridor has but narrowed by 125 basis points since the March […] More
New Overnight Developments Abroad - Daily Update
Pound Up on Reduced Brexit Fears
May 24, 2016
A new phone poll by Daily Telegraph revealed a widening margin of voters favoring Britain staying in the European Union (55% to 42%), and sterling rose 0.9% against the dollar in response. The U.S. currency otherwise climbed 0.9% against the Aussie dollar, 0.6% versus the kiwi, 0.3% vis-a-vis the euro and yen, 0.2% relative to […] More
