Central Bank Watch
Central Bank of Norway
March 15, 2018
Although the Executive Board of Norges Bank left the policy interest rate at 0.50%, it released a less dovish statement that moved up the likely first interest rate hike from next next autumn to the summer before. Earlier this month, the inflation target had been lowered to 2.0%, and officials are justifying a somewhat earlier […] More
Central Bank Watch
Swiss National Bank Keeps Negative 0.75% Interest Rate
March 15, 2018
In mid-January 2015, the Swiss National Bank discontinued its intervention-enforced minimum exchange rate target of 1.2000 per euro but at the same time lowered the sight deposit target by a half percentage point to -0.75% and the 3-month Swiss Libor target range to -1.25% to -0.25% (from -0.75% to +0.25%). Equally important, monetary officials promised […] More
New Overnight Developments Abroad - Daily Update
Yen Strengthens Beyond 106 per Dollar Level
March 15, 2018
The yen added to Wednesday’s climb, rising a further 0.4% on balance against the dollar overnight and touching a 2-week high of 105.78 at one point. The yen has been strengthening in spite of Prime Minister Abe’s political problems. Japan’s currency offers an alternative for investors worried about the chaos swirling around the Trump presidency […] More
