Central Bank Watch
Central Reserve Bank of Peru
May 10, 2018
Peru’s policy interest rate, which underwent six 25-basis point cuts from May 2017 to March 2018, was kept steady after this month’s monetary policy review. While inflation rose in April, it reached only 0.5%, half of the target floor. According to a released statement, “the Board considers that it is appropriate to maintain an expansionary […] More
Central Bank Watch
Bangko Sentral ng Pilipinas
May 10, 2018
Among today’s many central bank reviews of monetary policy, the one in The Philippines proved to be the meeting that resulted in an actual change in policy rates, as the overnight reverse repo, the overnight lending, and the overnight deposit rates were raised by 25 basis to 3.25%, 3.75%, and 2.75%. A new forecast unveiled […] More
Central Bank Watch
Bank Negara Malaysia
May 10, 2018
Malaysia’s overnight policy rate was kept steady by the Monetary Policy Committee at 3.25%, its level since a 25-basis point rise in January, which had been the first change since a cut in July 2016 and the first increase since July 2014. According to a released statement, continuing expansion is projected in both exports and […] More
Central Bank Watch
National Bank of Serbia
May 10, 2018
Serbian monetary officials already had cut their policy interest rate by 50 basis points this year via two 25-bp moves in March and April. The half-percentage point reduction this year matched the total annual declines engineered in both 2016 and 2017 and followed a combined 500 bps in 2014-15 and 275 bps in the final […] More
Central Bank Watch
Bank of England
May 10, 2018
The latest Monetary Policy Committee meeting ended without any change in the 0.5% Base Rate or in the Bank of England’s GBP 10 billion of corporate bond purchases and GBP 435 billion ceiling on gilt purchases. The released statement explaining this decision was accompanied by a new quarterly Inflation Report. After the MPC last reviewed […] More
Central Bank Watch
Reserve Bank of New Zealand
May 10, 2018
A more dovish than expected statement released after New Zealand’s official cash rate (OCR) was kept at 1.75% predicts that “a considerable period of time” will pass before the OCR is raised and even asserts that, “The direction of our next move is equally balanced, up or down. Only time and events will tell.” Seven […] More
New Overnight Developments Abroad - Daily Update
Recent Dollar Gains Trimmed
May 10, 2018
The dollar traded down overnight by 0.9% against the peso, 0.3% relative to the loonie, 0.4% vis-a-vis the Australian dollar, 0.3% versus the euro and Swiss franc, 0.2% against the yuan, and 0.1% versus the yen. There’s been an Israeli air strike on Iranian targets in Syria, lifting fears that tensions will continue to escalate […] More
