Foreign Exchange Insights and Next Week
Next Week’s Menu: April 19-25, 2025
April 18, 2025
Central Banks: Interest rate policies will be reviewed in China, Indonesia and Russia. The Federal Reserve Beige Book of regional economic conditions gets published, and Chicago Fed President Goolsbee speaks publicly. So will Bailey and Lombardelli of the Bank of England and Dutch Central Bank President Knot. Holidays and Special Events: Easter Monday will be […] More
Central Bank Watch
Further Interest Rate Cut in Euroland
April 18, 2025
All three major interest rates at the European Central Bank were indeed cut yesterday morning by the expected 25 basis points, resulting in a cumulative decline of the deposit rate since last June to 175 basis points to 2.25% and 210 bps to 2.40% in the central bank refinancing rate. In justifying today’s move, note was […] More
Central Bank Watch
Turkish Rate Hike
April 18, 2025
In a big surprise, officials at the Central Bank of Turkey (TCMB) lifted their interest rate yesterday by 350 basis points on the heels of three cuts of 250 bps undertaken between December and March. The new rate becomes 46.0%, defying analyst expectations that it was going to be kept at 42.5% in light of […] More
Central Bank Watch
Egyptian Interest Rate Cut
April 18, 2025
The Central Bank of Egypt slashed its overnight deposit rate by 225 basis points to 25.0%. A peak of 27.25% had been maintained previously since March 2024. Similarly-sized reductions were made in the overnight lending rate and discount rates to 26.0% and 25.5%, respectively. A released statement proclaims that last quarter “witnessed a significant decline […] More
New Overnight Developments Abroad - Daily Update
World Financial Markets Quieted by Widely Shared Good Friday Holiday Observances
April 18, 2025
Today is a holiday in Australia, New Zealand, most of Europe and the Western Hemisphere, and many places in Europe. The weighted DXY dollar index fluctuated in a extremely narrow 0.2% high/low range overnight. Among stock markets that were open for trading part of today, share prices rose 1.7% in Vietnam, 1.1% in Malaysia, 1.0% […] More
