Archive for May 25th, 2023

Central Bank Watch

South African Reserve Bank Interest Rate Hike Exceeds Expectations

May 25, 2023

An interest rate increase of 50 basis points to 8.25% decided unanimously today matched the prior hike in March and is the tenth increase since the rate was raised from a pandemic low of 3.50% to 3.75% in November 2021. CPI inflation of 6.8% in April exceeded the 3-6% target range ceiling, and indicators of […] More

New Overnight Developments Abroad - Daily Update

German Recession Confirmed and Interest Rate Decisions in South Korea, Turkey and Indonesia

May 25, 2023

U.S. GDP data will be released shortly. In the meantime, German GDP growth last quarter was revised to -0.3% (not annualized) from zero percent reported originally. That’s the second negative quarter in a row and the third drop in the past four quarter, resulting in a negative year-on-year growth rate of -0.5% as well. The […] More