Central Bank Watch
Armenian Central Bank Rate Cut
June 13, 2023
Armenia got its first central bank interest rate cut since 2020. Early in the pandemic, the Central Bank of Armenia’s refinancing rate had been at 5.25% from May 2020 until an initial hike in February 2021. In the face of accelerating CPI inflation that crested at around an 11-year high of 10.3% last June, the […] More
New Overnight Developments Abroad - Daily Update
Softer Dollar Ahead of U.S. CPI Release
June 13, 2023
The dollar in overnight trading lost 0.5% against sterling, 0.4% versus the euro and Aussie dollar, and 0.3% relative to the Swiss franc. Alternatively, the dollar touched a fresh record high of 24.106 Turkish lira but subsequently unwound the incremental gain and a tad more. Much is riding on today’s U.S. CPI figures, which analysts […] More
