Central Bank Watch
Central Bank of Brazil
February 7, 2018
Brazilian monetary officials lowered the Selic interest rate by a total of 625 basis points in 2017, but the reduction of 50 basis points in December had been the smallest cut. After meeting this week, members of the monetary committee, Copom, decided unanimously to halve that increment to 25 basis points and asserted that “regarding […] More
Central Bank Watch
Reserve Bank of India
February 7, 2018
India’s Monetary Policy Committee maintained its existing rate structure including a 6.0% repo rate after its first scheduled review of 2018. It did this despite a 5.2% inflation rate at end-2017, which is well above the target center of 4.0%. Official felt compelled to revised projected inflation in the first half of the fiscal year […] More
Central Bank Watch
Central Bank of Iceland
February 7, 2018
The Monetary Policy Committee at Sedlabanki kept Iceland’s seven-day term deposit rate at 4.25%, its level since a 25-basis point cut in October 2017 that culminated four moves totaling 125 basis points of reduction since August 2016. Those declines fully reversed rate hikes previously during 2013. Officials released a rather hawkish statement that suggests that […] More
Central Bank Watch
National Bank of Romania
February 7, 2018
NBR Board members agreed to a second straight monthly monetary policy rate hike of 25 basis points to 2.25%. The moves in January and now February represent a directional shift. The rate had been reduced seven times starting in August 2014 to 1.75% by May 2015. Rate reversal comes against the backdrop of strong consumption-led […] More
Central Bank Watch
National Bank of Poland
February 7, 2018
The Monetary Policy Council at Narodowy Bank Polski agreed to leave interest rates unchanged at this week’s policy review. Since March 2015, a 1.5% reference rate has been flanked by by a 0.5% deposit rate and a 2.5% Lombard rate. Robust growth continues, yet inflation is moderate overall and low on core items. Over its […] More
New Overnight Developments Abroad - Daily Update
Calmer Waters…. Many Central Banks Holding Policy Reviews
February 7, 2018
U.S. stocks rose in the first hour of trading following Tuesday’s extreme whipsaws. In Europe, equities show gains so far of 2.3% in Italy and between 1% and 2% in the U.K., France, Germany, Switzerland, Greece, and Spain. Japan’s Nikkei only rebounded 0.2%, and further evidence that things are not fully back to normal markets […] More
