Central Bank Watch
Icelandic Central Bank Rate Hike
August 23, 2023
Policymakers at the Central Bank of Iceland delivered an unexpected 50-basis point additional hike in the 7-day term deposit rate to 9.25%. The cumulative 375 basis points of tightening this year follows a combined 400 bps of increase in 2022 and 125 basis points in 2021. The pandemic low of 0.75% prevailed from November 2020 […] More
New Overnight Developments Abroad - Daily Update
Weak Data Depresses Long-Term Interest Rates but Not Equities… Dollar Strengthens
August 23, 2023
Ten-year sovereign debt yields dropped overnight by 10 basis points in the U.K., 7 basis points in Germany and 4 basis points in the U.S.. The British FTSE recovered 0.7%. Continental European equities and U.S. stock futures are barely changed. The dollar climbed above Tuesday closing levels by 0.8% relative to sterling, 0.4% versus the […] More
