Central Bank Watch
Bank of Korea’s Key Interest Rate Left at 1.25%
November 10, 2016
The last change in the 7-day repo rate was a 25-basis point cut in June. Four earlier reductions were made between August 2014 and June 2015. CPI inflation accelerated to 1.3% in October from 0.4% in August, but the forecast of modest growth faces even more uncertainty than before, according to a released statement, because […] More
Central Bank Watch
Central Reserve Bank of Peru
November 10, 2016
Peru’s monetary policy interest rate was left at 4.25%. It’s been at that level since the last of four 25-basis point hikes between September 2015 and February 2016. Although CPI inflation of 3.4% in October was higher than in September, core remained flat at 3.0%, and the source of the rise is considered transitory by central […] More
Central Bank Watch
National Bank of Serbia
November 10, 2016
Serbia’s key central bank policy rate had been at 12.25% as recently as April 2013 but was slashed by 275 basis points over the remainder of 2013, 150 basis points during 2014, 350 bps last year, and this year by 25 basis points in both February and July. The resulting 4.0% level has not been […] More
Central Bank Watch
Bangko Sentral ng Pilipinas
November 10, 2016
Filipino monetary officials decided to keep the 3.0% reverse repo rate unchanged after reviewing their stance. There hasn’t been a rate change since two closely spaced hikes in July and September of 2014. These, in turn, had reversed a percentage point of easing in 2012. Like 2015, 2013 saw no rate changes. A released statement again […] More
Central Bank Watch
New Zealand Gets an Interest Rate Cut of 25 Basis Points
November 10, 2016
The Reserve Bank of New Zealand’s new Official Cash Rate level is 1.75%, the lowest ever, and this third such cut in 2016 was largely motivated by a need to depreciate the kiwi, which has become “higher than is sustainable for balanced economic growth” and because an overvalue currency is depressing inflation associated with tradable […] More
New Overnight Developments Abroad - Daily Update
Dollar Strengthens, Bond Prices and Mexican Peso Fall
November 10, 2016
Large protests against the U.S. election results erupted in several U.S. cities overnight, including N.Y.C., Chicago, Oakland and Seattle. President-Elect Trump will travel today to Washington to meet President Obama at the White House to begin the transition of administrations. On the premise of a more stimulative U.S. fiscal policy, a likely federal funds rate […] More
