Central Bank Watch
South African Reserve Bank
November 19, 2020
Although the South African Reserve Bank’s repo rate was left unchanged at 3.5%, the vote not to ease of 3-2 was razor-thin. Each dissenter preferred a 25-basis point cut to add to earlier easing moves this year of 25 basis points in January, 100 bps each in March and April, 50 bps in May and […] More
Central Bank Watch
Rate Cut at Bangko Sentral ng Pilipinas
November 19, 2020
The Filipino policy interest rate was reduced by 25 basis points to a record low of 2.0%. This was the fifth cut of 2020, followings ones of 25 bps in February and a trio of 50-bp moves in March, April and June. The Philippines has been slammed not only by the pandemic but also a […] More
Central Bank Watch
Bank Indonesia Cuts Interest Rate
November 19, 2020
A 25-basis point cut in Bank Indonesia’s seven-day reverse repo rate to 3.75% had not been anticipated today. The move follows four earlier 25-basis point reductions this year between February and July. According to an accompanying statement, the latest easing is meant to maintain liquid money markets and promote economic recovery in the face of […] More
Central Bank Watch
Central Bank of Turkey Tightens Sharply
November 19, 2020
The Central Bank of Turkey raised the one-week repo rate by 475 basis points to 15.0% in an action to counter inflation caused by the depreciation of the lira. Among emerging market economies, Turkey’s currency this year has been the weakest. Turkish monetary officials, like their counterparts around the world, had lowered their interest rate progressively […] More
New Overnight Developments Abroad - Daily Update
Correlation Between Covid Cases and the Dollar
November 19, 2020
The dollar has frequently benefited from intensifying Covid infections and the rise in general uncertainty that accompanies such. Today has been one of those days. New coronavirus cases in the United States topped 170k yesterday, but the increase over the last 24 hours as of this writing is in fact just shy of 180,000. And […] More
