Archive for June 23rd, 2022

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

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