Central Bank Watch
25-Basis Point Interest Rate Cut at the South African Reserve Bank
January 30, 2025
South Africa’s policy interest rate, as expected, was cut today. The reduction to 7.50% from 7.75% was by the same increment as the previous and first cut done at November’s policy review. Previously, the interest rate had crested and stayed at 8.0% from June 2023 until this past November. The South African Reserve Bank targets […] More
Central Bank Watch
25-Basis Point Cut in European Central Bank Interest Rates
January 30, 2025
As was expected, the Governing Council of the European Central Bank undertook a fifth interest rate cut, and its size was 25 basis points. The cutting edge deposit rate was lowered to 2.75% versus 4.0% prior to last June’s initial reduction. A released explanation of today’s move again stressed that there is not predetermined schedule […] More
Central Bank Watch
Brazilian Selic Interest Rate Hiked to 13.25% from 12.25%
January 30, 2025
The Central Bank of Brazil’s Selic interest rate was hiked by another full percentage point, matching the increase made at December’s meeting and bringing the cumulative rise since September to 275 basis points. At 13.25%, the new rate level is its highest since August 2023 and just 50 basis points below the cyclical peak of […] More
New Overnight Developments Abroad - Daily Update
Central Banks and Data Storm Vie for Investors’ Attention
January 30, 2025
The dollar fell 0.8% against the yen overnight but has barely moved against other major currencies in the wake of the FOMC meeting that left the federal funds target unchanged at 4.25-4.50%. Fed Chairman Powell said monetary policy and the U.S. economy are in a good place and that there is no urgency therefore to […] More
