Archive for May 23rd, 2022

Central Bank Watch

More Central Bank Rate Hikes in Pakistan, Israel, and Ghana

May 23, 2022

In all of these instances, tightening interest rate cycles inspired by accelerating inflation had begun prior to today’s moves. There have been five increases of the State Bank of Pakistan‘s policy interest rate since September 2021, when the rate was raised 25 basis points from 7.0% to 7.25%. hikes followed of 150 basis points in […] More

New Overnight Developments Abroad - Daily Update

Dollar Drops about 1%

May 23, 2022

The U.S. dollar opened this fourth week of May on a down note, falling 1.1% against the euro, 1.5% and 1.2% versus the New Zealand and Australian dollars, 0.9% relative to sterling, 0.5% against the loonie, 0.3% vis-a-vis the Japanese yen and Mexican peso, 0.8% versus the Turkish lira and 6.4% against the Russian ruble. […] More