Bank of Israel
The Sixth Jamaican 25-Basis Point Central Bank Interest Rate Cut Since August 2024
February 23, 2026
Today’s reduction to 5.50% from 5.75% was the first cut in nine months. It was agreed upon unanimously by members of the Bank of Jamaica‘s Monetary Policy Committee and, according to a released statement, justified because “the direct impact of Hurricane Melissa on inflation was less severe than initially anticipated. A faster-than-expected improvement in agricultural […] More
A Third Israeli Interest Rate Cut
January 5, 2026
At the Bank of Israel’s first scheduled review of interest rate policy this year. In light of a 25-basis point cut at the prior review in late November, analysts were not anticipating an interest rate change, but it was instead cut by a further 25 basis points to 4.0%, its lowest level since February 2023. […] More
Financial Markets React to Madura’s Capture
January 5, 2026
(158) President Trump’s efforts to replace Madura was pitched originally as a solution to the U.S. Fentanyl problem, but the deeper motive of this still unfolding narrative is a gambit to drive up Venezuelan oil production, cheapen the price of fossil fuel energy and drive faster U.S. GDP growth and the development of artificial intelligence. […] More
Some Fresh Policy Signals
May 27, 2025
Officials at Japan’s Ministry of Finance signaled an intent to dampen Japanese bond issuance in an effort to counter upward pressure on long-term yields. Governor Ueda of the Bank of Japan warned of upside risks surrounding core inflation in an apparent indication that the next BOJ interest rate hike is coming sooner rather than later. […] More
Little Respite for Worried Investors
April 7, 2025
(197) The heavy selloff of riskier assets extended dynamically into a fresh week. President Trump has shown no inclination of blinking first on his broadly based and very large tariff hikes. Reactions by other countries have been mixed. The ten-year U.S. Treasury yield eased another basis point and is now below 4.0%. Comparable German bund […] More
Dollar Slides Back to End-2024 Levels
January 6, 2025
After rising in the initial business days of January, the U.S. currency hit a big bump overnight, dropping 1.4% against the Mexican peso, 1.1% versus the Australian and New Zealand dollars, 0.9% versus the Canadian dollar and euro, 0.8% relative to the South Korean won and sterling, 0.7% vis-a-vis the Swiss franc, but just 0.3% […] More
A Better Financial Market Mood to Start Shortened Week
November 25, 2024
Markets liked Trump’s choice of Scott Bessent, a hedge fund manager, for the cabinet post of treasury secretary. Tangentially, there’s more confidence that the Fed will cut rates next month, and reports of a ceasefire agreement between Israel and Lebanon also helped the mood. The Russell 2000 hit a record high. The DOW is up […] More
Long-Term Interest Rates Higher Still
April 8, 2024
Ten-year sovereign debt yields climbed so far today by four basis points in Germany, two bps in the U.S. and U.K., and a basis point in Japan. The dollar is marginally lower, slipping 0.2% versus the euro, 0.4% against the kiwi, 0.3% relative to the Aussie dollar, and 0.1% vis-a-vis sterling. Not all dollar relationships […] More
Bank of Israel Rate Cut
January 2, 2024
The Bank of Israel on New Years Day unveiled its first rate reduction since April 2020, slicing its benchmark by 25 basis points to 4.50%. The rate had previously been lifted progressively starting in April 2022 from a pandemic low of 0.10% to 3.25% by the end of that year and 4.75% by March 2023. Israeli […] More
New Year’s Hangover and Beaucoup Manufacturing PMI Reports for December
January 2, 2024
The flip-side of the historical downward bias of the dollar late most Decembers is rebounding strength right after the start of the ensuing new year. On this first trading day of 2024, the dollar rose 0.8% overnight on a weighted basis and against the euro and sterling, 1.0% relative to the Swiss franc, 1.8% against […] More
