Central Bank Watch
Filipino Central Bank Rate Hike
June 23, 2022
At the Central Bank of The Philippines, a policy interest rate hike of 25 basis points to 2.5% matched expectations and followed a similar increase done after May’s policy review. In 2020, the overnight borrowing rate had been halved from 4.0% to 2.0%. Filipino CPI inflation of 5.4% as of May exceeds the 2-4% target […] More
Central Bank Watch
Bank of Norway Hikes Interest Rate
June 23, 2022
The Bank of Norway’s policy interest rate was hiked by 50 basis points to 1.25%. From a base of zero percent during the worst of the pandemic, the rate had previously undergone three 25-basis point increases last September, December, and March, and analysts were anticipating a fourth increase of that smaller size. In a released […] More
New Overnight Developments Abroad - Daily Update
Emerging Evidence of A More Pressing Recessionary Risk in Europe than the United States
June 23, 2022
Preliminary June purchasing manager survey results highlight scant demand, a rise in unsold inventories, a mounting drag from elevated inflation, and weakening trends in both business and consumer confidence. The findings contrast with Fed Chairman Powell assertion yesterday that, while the U.S. situation presents a challenging one to policymakers, the risk of a near-term recession […] More
