Central Bank Watch
Reserve Bank of India Keeps Repo Rate at 6.25% with a Neutral Forward Bias
April 6, 2017
This was was the third straight meeting that left the repo rate at 6.25%. That interest rate had been cut twice last year by 25 basis points each in April and October, following four reductions totaling 125 bps in 2015. At a meeting in December, the reverse repo rate had been cut to its present […] More
Central Bank Watch
Bank of Israel Retains 0.10% Interest Rate
April 6, 2017
In each of four consecutive years, 2011-2014, Israel’s central bank interest rate was sliced three times by 25 basis points, and that cumulative three percentage points of rate reduction was punctuated by one final 15-basis point cut in February 2015 to 0.10%. The rate has stayed at that level ever since including after the April policy […] More
New Overnight Developments Abroad - Daily Update
New Turn of Events on Several Fronts
April 6, 2017
At an unscheduled Czech National Bank policy meeting, the 27 koruna per euro ceiling imposed since November 2013 was lifted, and the currency strengthened marginally over 1.0% in response. The backdrop for the change is near-target inflation and sustaining growth. A discretionary role for intervention on an as-needed basis has been retained. Chinese President Xi […] More
