Central Bank Watch
Turkish Central Bank Rate Cut
October 20, 2022
A bizarre tinge to this Thursday had been injected earlier by the Central Bank of Turkey whose officials slashed its one-week repo rate by 150 basis points to 10.5%. Seven reductions beginning in September 2021 add up to 850 basis points from a then-peak of 19.0%. Turkey’s easing monetary policy cuts against the global grain, […] More
Central Bank Watch
Indonesia and China
October 20, 2022
Bank Indonesia’s seven-day reverse repo rate was lifted by an expected 50 basis points to a 32-month high of 4.75%. There had been two earlier hikes this year of 25 basis points in August and 50 bps in September. At 4.75%, the rate is just 25 basis points below its pre-pandemic level of 5.0%. Indonesian […] More
New Overnight Developments Abroad - Daily Update
Unusual Developments
October 20, 2022
British Prime Minister Truss just announced her resignation after an unusually brief six weeks in office. Having campaigned as the second coming of Margaret Thatcher, Truss lost the the confidence of her own party when a public roar of protest greeted her program of radical and unfunded tax cuts. Her departure is unlikely to quell […] More
