Central Bank Watch
Swedish Riksbank
October 26, 2017
Monetary officials at the Swedish Riksbank reaffirmed that a central bank rate hike is unlikely before the second half of next year and that the upward path thereafter will be gentle. According a a released statement, the repo rate, which has been non-positive since October 2014, negative since February 2015, and at the current -0.50% […] More
Central Bank Watch
Central Bank of Norway
October 26, 2017
The key Norwegian central bank interest rate has been 0.50% since a 25-basis point cut in March 2016. The rate previously was cut 50 basis points in December 2011, twice by 25 bps each in 2014, twice more by 25 bps each in 2015. A statement released today by Norges Bank’s Executive Board asserted that […] More
Central Bank Watch
Trend Change in National Bank of Ukraine’s Policy Rate
October 26, 2017
Ukraine’s main central bank interest rate had been cut from 30% in August 2015 to 12.5% after a final cut made in May of this year, but officials at the latest policy review concluded that deterioration in actual inflation and price expectations now necessitated a full percentage point rate hike to 13.5%. CPI inflation was […] More
Central Bank Watch
Central Bank of the Republic of Turkey
October 26, 2017
Turkey’s 9.25% marginal funding rate, 7.25% overnight borrowing rate, and 8.0% one-week repo rate were all left unchanged. The last change made in any of these rates was a 75-basis point hike in the marginal funding rate in January of 2017. The Monetary Policy Committee released a statement today defending the decision not to relax […] More
Central Bank Watch
European Central Bank Settles on EUR 30 Billion of Monthly Asset Purchases Through at Least September
October 26, 2017
The ECB made several decisions: The interest rate structure (a zero refinancing rate, a negative 0.40% deposit rate, and a 0.25% marginal lending rate) was not changed, and a promise was made not to lift rates until well past the ending of quantitative stimulus. The current 60 billion euro pace of monthly asset purchases will […] More
New Overnight Developments Abroad - Daily Update
Central Bank Policies in the Spotlight
October 26, 2017
The Governing Council of the European Central Bank left its interest rate structure including a negative 0.4% deposit rate as is. The current monthly purchases of securities at a pace of 60 billion euros will continue this quarter and be reduced by half to 30 billion euros per month as of January. Quantitative stimulus at […] More
