Central Bank Watch
Czech National Bank Cuts 2-Week Repo Rate
May 7, 2020
The Czech National Bank‘s two-week repo rate was slashed by a greater-than-forecast 75 basis points to 0.25%. The Lombard rate has been lowered to 1.0%, and the deposit rate will stay at 0.05%. In spite of a 25-basis point hike of the repo rate announced February 6, the key rate is now 175 basis points […] More
Central Bank Watch
Central Bank of Brazil Selic Rate Reduced by 75 Basis Points
May 7, 2020
Brazil’s Selic interest rate was cut yesterday by 75 basis points to 3.0%. Copom, the Central Bank of Brazil’s monetary policy committee, has been escalating the incremental size of its reductions, having cut the Selic rate by 25 basis points in February and 50 bps in March. According to a released statement, two of nine […] More
Central Bank Watch
Bank of Norway
May 7, 2020
The Bank of Norway‘s policy interest rate was cut 25 basis points to zero percent. That’s down from 1.5% prior to reductions of 50 basis points on March 13 and 75 bps one week later. Officials at the central bank observe an abrupt drop in the economy, accentuated by lower oil prices for this energy […] More
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Bank of England
May 7, 2020
The Bank of England kept its monetary policy settings as is. Two reductions of the Bank Rate were earlier made of 50 basis points on March 11 and 15 bps a week later. The rate is now pinned at 0.1%. A released statement foresees consumer spending falling about 30%, and business investment dropping even more […] More
New Overnight Developments Abroad - Daily Update
Disconnection Thursday Between Recessionary Data and Buoyant Stocks
May 7, 2020
Equities were mixed in Asia but have risen more impressively in Europe this morning. There were drops of 0.8% in India, 0.7% in Hong Kong and 0.2% in China but advances of 0.6% in Taiwan, 0.3% in Japan and 0.5% in New Zealand. The British Ftse, German Dax, and Paris Cac each have risen at […] More
