Archive for May 26th, 2022

Central Bank Watch

Unscheduled Policy Review in Russia Leads to Another Three Percentage Point Interest Rate Cut

May 26, 2022

In an unscheduled policy meeting at the Central Bank of Russia, officials implemented their third 300-basis point interest rate cut since April 8 and “holds open the prospect of key rate reduction at its upcoming meetings.” Economic growth in Russia appears to have slumped very sharply this quarter. The ruble plunged very sharply when Russia’s […] More

Central Bank Watch

South Korea’s Fifth 25-Basis Point Central Bank Interest Rate Hike since August

May 26, 2022

The Bank of Korea’s seven-day bank rate was raised again by 25 basis points. It was the fifth such increase since last August, the third one of 2022, and the second straight monthly meeting in which officials tightened. At 1.75%, the interest rate is back to the level prevailing between July and October of 2019. […] More

New Overnight Developments Abroad - Daily Update

Thursday’s Focus Turns to Central Banks

May 26, 2022

The dollar slid overnight by 0.2% against the euro, yen, sterling, and Mexican peso and by 0.1% versus the Swiss franc and on a weighted basis. Alternatively the U.S. currency advanced 0.6% relative to the Chinese yuan, 0.3% relative to the Russian ruble, and 0.2% vis-a-vis the Turkish lira. The kiwi, Aussie dollar and Canadian […] More

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