Central Bank Watch
Magyar Nemzeti Bank
January 24, 2017
Hungary’s central bank base rate has been at 0.90% since a third consecutive monthly cut 0f 15 basis points administered last May. Officials voted at this month’s meeting not to change the rate. While discussing circumstances that might warrant a further easing in the future through unconventional means, a released statement makes no asymmetric hint […] More
Central Bank Watch
South African Reserve Bank Meeting
January 24, 2017
The repo rate was left unchanged at 7.0% by unanimous vote and as expected. Such had previously raised in six moves from January 2014 through March 2016 from a base of 5.0%. A statement released after the latest meeting is guarded in tone, nonetheless. Projected inflation in the short term has been revised somewhat higher […] More
Central Bank Watch
A 75-Basis Point Hike in Turkey’s Overnight Lending Rate
January 24, 2017
Officials at the Central Bank of the Republic of Turkey project only moderate growth consistent, under ordinary conditions, with declining inflation. But because of domestic political uncertainty and global geopolitical strains that have weighed on the currencies of many emerging markets, the lira fell quite significantly. The lagged upward effect of such on Turkish inflation […] More
New Overnight Developments Abroad - Daily Update
Markets Trading on Policy Perceptions, Not Released Data
January 24, 2017
The nominee for U.S. Treasury Secretary, Steve Mnuchin, gave a nuanced view on dollar strength, saying such is a desired long-term goal but also can be detrimental to the economy in the short run. As promised, U.S. President Trump nixed U.S. participation in the Pacific Trade Pact (TPP). Other Asian nations led by China will […] More
