Archive for August 5th, 2021

Central Bank Watch

Bank of England Policy Review

August 5, 2021

The Bank of England’s Monetary Policy Committee again voted unanimously to leave its Bank Rate unchanged at 0.10%. Officials however concede that the recent acceleration of inflation has exceeded their expectations by a significant margin, and they now foresee the 12-month rate of CPI increase to hit 4.0% later this year. Moreover, officials are somewhat […] More

Central Bank Watch

Czech Monetary Policy Tightened for Second Time This Year

August 5, 2021

The Czech National Bank today followed up on an initial 25-basis point increase of its two-week repo rate that was done in June. From March to May of last year the rate had been slashed by 150 basis points in three moves. Today’s increase was also by 25 bps and brings the 2-week repo rate […] More

Central Bank Watch

Brazilian Selic Rate Lifted to 5.25% from 4.25%

August 5, 2021

A fourth central bank interest rate hike this year has been engineered in Brazil, and the increase of a full percentage point exceeded expectations. At 5.25%, the Bank of Brazil’s Selic Rate is now 325 basis points above its level at the beginning of March. Copyright 2021, Larry Greenberg. All rights reserved. No secondary distribution […] More

New Overnight Developments Abroad - Daily Update

Dollar Dips as U.S. Covid Cases Swell and Trade Deficit Climbs to Record High in June

August 5, 2021

U.S. Covid-19 cases rose to 96.0k yesterday from 92.6k on Tuesday. The United States goods and services trade deficit of $75.749 in June was a record monthly high. The first-half deficit of $428.6 billion was 46% greater than in the first half of 2020. The Bank of England’s Monetary Policy Committee again voted unanimously to […] More

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