Central Bank Watch
Bank of Mexico
June 22, 2017
Mexico’s key central bank interest rate was raised for the seventh time since September and the tenth time since December 2015. Over the entire year and a half span, the rate has been lifted from 3.0%, the level between October 2014 and December 2015, to 7.0%. Today’s increase had been expected. CPI inflation of 6.3% […] More
Central Bank Watch
Bank of Norway
June 22, 2017
The Executive Board at Norges Bank left the key Norwegian policy rate at 0.50% and released a statement that indicates the rate is unlikely to be raised until 2019 and then at only a gradual pace. Inflation has been lower than assumed previously despite higher-than-projected capacity usage. Inflation expectations are firmly anchored. Norway’s central bank […] More
Central Bank Watch
Central Bank of The Philippines
June 22, 2017
The Filipino reverse repo rate is being maintained at 3.0%. A statement released after the latest policy review, which left all other policy settings unchanged as well, projects manageable in-target CPI inflation (2-4%) in 2017-19 but concedes that risk surrounding the forecast is tilted to the upside. Price expectations remain well-anchored, and the outlook for […] More
Central Bank Watch
Reserve Bank of New Zealand Policy Rate Unchanged
June 22, 2017
From a high of 3.5% between late July 2014 and mid-June 2015, the RBNZ’s official cash rate was cut in half via seven 25-basis point reductions. The last of these occurred in November 2016 and left the OCR at its current 1.75% level. A statement released following the latest policy review defends continuing an accommodative […] More
New Overnight Developments Abroad - Daily Update
Little Change in the Dollar as Oil Stays Low
June 22, 2017
The U.S. dollar has lost 0.4% against the kiwi, 0.2% versus the peso and loonie and 0.1% relative to the yen but risen 0.2% against the Australian dollar and 0.1% vis-a-vis the euro, Swiss franc and yuan. Although 0.6% higher overnight, WTI crude oil remains very depressed at $42.79 per barrel, 21.4% lower than its […] More
