Central Bank Watch
A Fifth Straight Filipino Central Bank Interest Rate Hike
November 15, 2018
A desire to counter perceived upside inflation risks such as the rice tariffication bill, the suspension of the oil excise tax, wage pressures, and elevated inflation expectations justified a further hike of Bangko Sentral ng Pilipinas’ overnight reverse repo rate to 4.75% from 4.5%, according to a released central bank statement. Officials also felt obliged to […] More
Central Bank Watch
Bank Indonesia Tightens Stance Further
November 15, 2018
The Indonesian central bank board of governors announced several changes: The 7-day reverse repo rate, deposit facility rate, and lending facility rate were hiked 25 basis points to 6.0%, 5.25%, and 6.75%. The key reverse repo rate has been lifted 7 times since mid-May for a total of 2 percentage points. Reserve requirements were also […] More
New Overnight Developments Abroad - Daily Update
Down Goes the British Pound
November 15, 2018
With British Prime Minister Theresa May facing a vote of no confidence and several of her cabinet ministers resigning in protest against her Brexit deal, sterling slumped 1.5% overnight against both the dollar and euro. Weak British retail sales data were also released today, showing an unexpected 0.5% on-month drop in total sales (+2.2% on […] More
