Central Bank Watch
Central Reserve Bank of Peru
April 12, 2018
Being an even-numbered calendar month, Peru’s central bank board did not change its policy interest rate in April. The last six reductions, each by 25 basis points, were made at scheduled monthly meetings in the even months of May, July, September, November, January and March. The rate is now at 2.75%, and the statement accompanying […] More
Central Bank Watch
Bank of Mexico Keeps Policy Rate at 7.5%
April 12, 2018
Mexican monetary isĀ focused on on strengthening the anchoring of medium- and long-term inflation expectations and achieving the convergence of actual inflation on the 3.0% target. In response to the steep depreciation of the peso as candidate and then U.S. President Trump espoused an anti-Mexican agenda both in regard immigration and trade policy. The peso’s […] More
Central Bank Watch
National Bank of Ukraine Decides Policy Now Sufficiently Tight
April 12, 2018
From last October to the start of March, Ukraine’s policy interest rate was increased 450 basis points to 17.0% in just four incremental moves. That tightening abruptly reversed a prolonged easing stance, the last element of which was a 50-bp cut last May. The reason for this reversal was a rise of inflation to well […] More
Central Bank Watch
National Bank of Serbia
April 12, 2018
The latest in a multiyear series of cuts in Serbia’s key policy interest rate has reduced such to 3.0% from 3.25%. There was also a 25-basis point cut in the March monthly meeting and, before that, a 50-basis point cut last October. Previous rate cuts totaled 2.75 percentage points in the final eight months of […] More
Central Bank Watch
Bank of Korea Leaves Policy Rate Unchanged
April 12, 2018
After its monthly policy review, South Korean central bank policy board released at statement that leads with a discussion of geopolitical risks. The global financial markets have shown high levels of volatility, with government bond yields and stock prices falling in line mainly with concerns about the worsening trade relations between the US and China. […] More
New Overnight Developments Abroad - Daily Update
Better Market Tone as Still No U.S. Reprisal on Syria
April 12, 2018
Never said when an attack on Syria would take place. Could be very soon or not so soon at all. Trump’s tweeted clarification regarding Syria has dampened the perceived immediacy of a geopolitical meltdown. Stocks in response have trimmed yesterday’s losses. Euro area industrial production, which had been forecast to hold generally flat in February, […] More