Central Bank Watch
No Surprises as ECB Cuts Interest Rates
September 12, 2024
The European Central Bank as anticipated announced today its second 25-basis point deposit rate cut, which drops to 3.5% from a peak of 4.0% that had been maintained from September 2023 until its initial cut in June 2024. As decided earlier, the ECB refinancing rate and marginal lending rate were reduced by 60 basis points […] More
Central Bank Watch
Serbian Central Bank Rate Cut
September 12, 2024
Foreshadowing the ECB easing, the National Bank of Serbia policy interest rate earlier in the day announced a 25-basis point interest rate cut of its own to 5.75%. This was the third such reduction since June. A peak of 6.5% had prevailed previously since July 2023. Serbian inflation of 4.3% lies near the top of […] More
Central Bank Watch
Central Bank of Pakistan Cuts Rate to 17.5%
September 12, 2024
With Pakistani CPI inflation dropping to a 34-month low of 9.6% in August, officials at the Central Bank of Pakistan reduced their key interest rate by 200 basis points today to 17.5%. There were also cuts made in June and July from the peak of 22.0% that had been maintained from June 2023 until June […] More
New Overnight Developments Abroad - Daily Update
25-Basis Point Interest Rate Cut By ECB; Coming Fed Rate Unlikely to Exceed That Increment
September 12, 2024
Like yesterday’s release of U.S. consumer prices, today’s producer price data pose no resistance to an initial 25-basis point cut of the federal funds rate but are unlikely to warrant a larger reduction by the Federal Open Market Committee next Wednesday. Overall producer prices went up 0.2% versus an expected 0.1%, but their level was […] More
