Central Bank Watch
Bank of Canada Beats Expectations with a 100-Basis Point Rate Hike that May Foreshadow the Fed’s Next Move
July 13, 2022
The fourth Canadian central bank rate hike of 2022 followed earlier increases of 25 basis points in March and 50-basis point moves in April and June. The new 2.5% rate level is 75 basis points above the pre-pandemic level of 1.75%. All three 50 basis point cuts in 2020 had been implemented near the start […] More
Central Bank Watch
New Zealand and South Korean Central Bank Interest Rates Lifted by 50 Basis Points
July 13, 2022
Central Banks in New Zealand and South Korea had hiked interest rates by 50 basis points today. The Reserve Bank of New Zealand’s Official Cash Rate was raised to 2.50%, its highest level since early 2016 and up from a pandemic low of 0.25%. Three increases of 25 basis points have now been followed by […] More
New Overnight Developments Abroad - Daily Update
More Worrisome News This Wednesday
July 13, 2022
U.S. CPI inflation accelerated by a greater-than-forecast half percentage point in June to 9.1%, its fastest level in 487 months and up from 5.4% in June 2021 and 0.6% in mid-2020. Energy prices were 41.6% higher than a year earlier, their largest 12-month gain since April 1980, which coincided with the peak month in overall […] More
