Central Bank Watch
Australian Rate Hike Smaller than Anticipated
October 4, 2022
Policymakers at the Reserve Bank of Australia helped reinforce markets’ reassessment of coming monetary restraint around the world by throttling back the incremental rise of the Official Cash Rate to 25 basis point from moves of 50 basis points at the previous four monthly reviews. The initial rate hike last May, like today’s had been […] More
Central Bank Watch
75-Basis Point Bank of Israel Interest Rate Hike
October 4, 2022
The Bank of Israel yesterday unveiled a 75-basis point hike of its policy interest rate to 2.75%. That followed a similar-sized hike in August and brought the amount of cumulative increase to 265 basis points since April. The new 2.75% rate level is its highest in almost 11 years. Israeli CPI inflation fell 0.6 percentage […] More
New Overnight Developments Abroad - Daily Update
Big Market Turnaround: Equity Rebound and Lower Dollar and Sovereign Debt Yields
October 4, 2022
Market expectations of how much further the federal funds target rate will be raised in the coming six months have been scaled back significantly. The catalyst has been evidence of softer U.S. demand, notably visible in yesterday’s ISM-compiled purchasing managers survey of manufacturers, which dropped 1.8 index points to a 28-month low of 50.9. Sub-indices […] More
