Central Bank Watch
Bank of Norway and Swiss National Bank
December 15, 2022
A 25-basis point hike of the Bank of Norway‘s policy interest rate to 2.75% matches November’s incremental tightening and brings the rate level to its highest level since February 2009. Rate normalization began in September 2021 from a level of zero percent. More increases are highly probable, as inflation has been higher than imagined earlier […] More
Central Bank Watch
Bank of England and European Central Bank
December 15, 2022
The Bank of England‘s Monetary Policy Committee’s 50-basis point rate hike to 3.5% matched expectations but did so in an unusual way. In a 6-3 vote, there was on dissent from Mann that preferred to raise the policy rate by 75 basis points as the committee had done in November but also two dissents from […] More
New Overnight Developments Abroad - Daily Update
Central Bank Interest Rate Hikes and U.S. Data Clobber Share and Bond Prices, But Dollar Soars
December 15, 2022
No fewer than eight central banks have hiked interest rates today: the European Central Bank, Bank of England, Swiss National Bank, Bangko Sentral ng Pilipinas, and Hong Kong and Macau Monetary Authorities all by 50 basis points and matching the Fed’s action yesterday; the Bank of Norway by 25 basis points; and the Central Bank […] More
