Central Bank Watch
25-Basis Point Interest Rate Hike in the Philippines
October 26, 2023
A 25-basis point hike of the reverse repo rate at the Central Bank of the Philippines had not been expected by analysts today. The move ends a pause since March and lifts the rate benchmark to 6.5% from 5.5% at end-2022 and a pandemic low of 2.0% that had been maintained from November 2020 to […] More
Central Bank Watch
Turkish Central Bank Rate Raised to 35% from 30%
October 26, 2023
In other central banking developments this Thursday, the Central Bank of Turkey’s one-week repo rate was raised today by the as-expected increment of five full percentage points to 35.0%. This matches the size of September’s rate hike and brings the cumulative tightening since June to 26.5 percentage points. This increase represents a dramatic about-face from […] More
New Overnight Developments Abroad - Daily Update
Another Bad Day for Stocks.. House of Representatives Ends Speaker Impasse.. And Rate Hikes in Turkey and The Philippines
October 26, 2023
Disappointing third-quarter corporate earnings have been the driving force behind the drop in share prices. Stock markets in the Pacific Rim closed down 2.7% in South Korea, 2.1% in Japan, 1.8% in Indonesia, 1.7% in Taiwan, and 1.4% in India. Share prices have lost 0.8% to 1.4% so far in Germany, France, Italy and Great […] More
