Central Bank Watch
ECB Minutes: Latest Rate Increase Leaves Level Still Highly Accommodative
October 6, 2022
Hawkish minutes published today by the European Central Bank’s Governing Council meeting of September 7-8 shed useful information behind the record 75-basis point interest rate hike decided then. Officials recognize the onset of recessionary conditions yet are adamant that such mustn’t prevent needed forceful interest rate increases. Inflation risks are deemed skewed to the upside […] More
Central Bank Watch
National Bank of Serbia Interest Rate Increased to 5.0% from 4.5%
October 6, 2022
Officials at the National Bank of Serbia engineered their seventh consecutive rate hike today. The rate had been cut 125 basis points during 2020 and remained at just 1.0% until an initial 50-bp rate hike six months ago. There have been five half percentage point increases so far along with a pair of 25-bp moves […] More
Central Bank Watch
Reserve Bank of New Zealand Rate Hike
October 6, 2022
The Reserve Bank of New Zealand‘s Official Cash Rate was increased another 50 basis points to 3.5%, which is its highest level since April 2015. This was the fifth straight half percentage point increase since April and brings the cumulative rise over the past year to 325 basis points from a base of 0.25%. CPI […] More
New Overnight Developments Abroad - Daily Update
Varying Central Bank Interest Rate Changes to Tackle Inflation
October 6, 2022
The global environment of high inflation, slower economic growth, and central banks raising interest rates has favored the dollar. The weighted DXY dollar index climbed 0.4% overnight. Although the poorly received plan to eliminate the highest British tax bracket has been withdrawn, British financial markets remain especially vulnerable. Sterling is 0.5% weaker today against the […] More
