Central Bank Watch
Bank of Mexico
August 11, 2016
Having cut its policy rate at the prior meeting on June 30 by 50 basis points, today’s decision not to change monetary policy further at this time was expected. A released statement noted slower growth and projected that policy is consistent with the targeted 3% inflation in 2017. If Donald Trump is elected U.S. president in […] More
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National Bank of Serbia Leaves Policy Rate at 4.0% and Expresses More Optimism
August 11, 2016
Serbia’s central bank policy rate had been halved in nine steps between March 2015 and July 2016 from 8.0% to 4.0%. Officials saw no need to ease further at the August review. Serbian inflation, foreign rates of inflation, and domestic aggregate demand are projected to rise. Serbia is considered more immune from external shocks because of […] More
Central Bank Watch
Bangko Sentral ng Pilipinas: Reverse Repo Rate to Stay at 3.0%
August 11, 2016
The overnight lending and deposit rates in The Philippines were left unchanged at 3.5% and 2.5%, a corridor that straddles the reverse repo rate of 3.0%. The narrow rate band replaced a wider 4-6% corridor that had been maintained since a 25-basis point hike in September 2014. There was also a 25-bp increase in July 2014, no […] More
Central Bank Watch
Bank of Korea
August 11, 2016
South Korea’s Base Rate, which had been cut in June for the first time in a year but was left unchanged after July’s monthly policy meeting, was again not changed following the latest review. A statement again reaffirmed the view that inflation, now under the 1-3% target range at 0.7%, will continue to be low for […] More
New Overnight Developments Abroad - Daily Update
Softer Kiwi after New Zealand Rate Cut
August 11, 2016
The dollar advanced 0.4% against the New Zealand dollar, 0.3% versus the euro, yen and sterling, and 0.1% relative to the Swiss franc, Aussie dollar and yuan. The greenback is 0.1% lower against the loonie. New Zealand’s official cash rate was sliced 25 basis points to a record low of 2.0%. The drop had been […] More
