Central Bank Watch
Rapid-Fire Interest Rate Cuts Continue in Hyperinflationary Argentina
April 25, 2024
The Central Bank of Argentina’s policy interest rate was at 126% when President Milei assumed office last December 10th, promising a draconian tightening of fiscal policy. The rate was lowered to 100% within three days, cut by 20 percentage points three months later, another 10 percentage points two weeks ago. Then today came word of […] More
Central Bank Watch
Ukraine’s Central Bank Rate cut to 13.5% from 14.5%
April 25, 2024
The National Bank of Ukraine‘s policy interest rate was cut to 13.5% from 14.5%, having previously been reduced by 50 basis points in March and 10 percentage points in the second half of 2023. From June 2022 to July 2023, the rate had been held at 25.0%. A statement from the NBU explained that today’s […] More
New Overnight Developments Abroad - Daily Update
An Uneasy Mood
April 25, 2024
U.S. stock futures were down 0.5-1.0% just ahead of the release of U.S. first-quarter GDP. The data were expected to show strong enough and persistent demand to make Federal Reserve officials hesitant to cut interest rates. Elsewhere, a two-day meeting of the Bank of Japan began today, which while not expected to result in a […] More
