Central Bank Watch
ECB Interest Rate Increased by 25 Basis Points
May 4, 2023
The Governing Council of the European Central Bank has hiked its repo, deposit, and marginal lending facility rates by 25 basis points each to 3.75%, 3.25%, and 4.0%. Today’s action represents a further reduction of incremental tightening after a trio of 50-bp hikes in December, February and March and before that hikes of 50 bps […] More
Central Bank Watch
Norway’s Central Bank Rate Raised Again
May 4, 2023
There already has been an announced 25-basis point policy rate hike at the Bank of Norway. The new rate level there of 3.25% is the highest since late 2008 and up from a pandemic low of zero percent maintained from May 2020 until a 25-bp hike in September 2021. Norwegian monetary officials had not changed […] More
New Overnight Developments Abroad - Daily Update
Mulling Service-Sector PMI Results and Waiting for the ECB Rate Hike
May 4, 2023
The dollar is modestly softer this Thursday, with drops of 0.2% against the yen and 0.1% versus the euro, Canadian dollar, and sterling. Ten-year sovereign debt yields have risen six basis points in Italy, 4 basis points in Spain, 2 basis points in Germany and the United States and a basis point in Great Britain. […] More
