Archive for September 7th, 2022

Central Bank Watch

Central Bank of Chile

September 7, 2022

The Central Bank of Chile‘s monetary policy has underwent a radical shift since mid-2021. Starting at just 0.50%, the policy interest rate was raised to 4.0% during the second half of last year and — after yesterday’s announced greater-than-expected full percentage point increase to 10.75% — a further 675 basis points so far this year. […] More

Central Bank Watch

Polish Central Bank Rate Hike

September 7, 2022

Officials at the National Bank of Poland engineered their eleventh interest rate hike since August 2021, lifting such from 0.25% to 6.75% after today’s 25-basis point increment. The Russian invasion of Ukraine has been particularly disruptive and unsettling to this neighboring economy. CPI inflation, which has been aggravated by zloty depreciation, has tripled from 5.5% […] More

Central Bank Watch

Bank of Canada Rate Hike

September 7, 2022

The Bank of Canada Board engineered an as-expected 75-basis point rate hike to 3.25%. This was the fifth increase since March from a pandemic base of 0.25%. The rate level is at a 14-year high, and more increases and continuing quantitative restraint lie ahead. According to a statement, “The effects of COVID-19 outbreaks, ongoing supply […] More

New Overnight Developments Abroad - Daily Update

A Busy Wednesday as Central Banks Compete with Data for Market Attention

September 7, 2022

Dollar strength continues, with another 20-year high touched overnight by the weighted DXY index. At 144.98, the dollar climbed 1.4% overnight and to its highest Japanese yen value since August 1998 when the Asian debt crisis was raging. The greenback also has advanced 0.8% versus sterling and 0.3% vis-a-vis the Canadian, Australian and New Zealand […] More

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