Central Bank Watch
ECB Rates Lifted Again but Signal Made that New Levels May Represent the Peak
September 14, 2023
Today’s scheduled Governing Council meeting was one of the four times each year that macroeconomic forecasts were updated. The 25-basis point increase was the tenth straight meeting dating back to July 2022 that resulted in an interest rate hike. The bank is also engaged in balance sheet reduction, and those parameters were not modified. The […] More
Central Bank Watch
National Bank of Ukraine Interest Rate Reduced Further
September 14, 2023
In Ukraine, where the paramount inflationary risk stems from a continuing full-scale and unpredictable war, officials at the National Bank cut their benchmark interest rate to 20% from 22% today. That move follows a 300-basis point reduction in July from 25% where the rate had been since 15 percentage point hike in June 2020. Although […] More
New Overnight Developments Abroad - Daily Update
Central Banks and U.S. Data Setting the Tone
September 14, 2023
The European Central Bank will announce its interest rate decision and revised macroeconomic forecasts within the hour. Expectations are narrowly divided between a rate hike to counter inflation and leaving policy unchanged in light of recessionary conditions and monetary restraint in the pipeline. Growth and inflation projections are apt to be respectively upward and downward. […] More
