Bank of Russia
Central Bank Rate Cuts of 100 Basis Points in Egypt and 50 BPS in Russia
February 13, 2026
Egyptian consumer price inflation, which crested in September 2023 at 38.0%, receded to 11.7% two years later and is currently at 11.9%. The Central Bank of Egypt‘s policy interest rate over the past ten months has been lowered from 27.25% ti 19.0%, including a 100-basis point cut announced yesterday. Board members “will continue to remain […] More
Dollar Exhibits Better Tone Ahead of U.S. CPI Releases, But Tech Stocks Retreat
February 13, 2026
Thursday’s difficult session for U.S. equities, led by the tech sector, extended into other countries on Friday with share prices closing down 1.6% in Singapore, 1.4% in Australia, 1.3% in China and India, 1.7% in Hong Kong, and 1.6% in Singapore. Stock markets in Spain and Italy are so far also showing losses in excess […] More
Russian Interest Rate Cut
December 19, 2025
The Bank of Russia has cut its interest rate by another 50 basis points, but the level remains high at 16.0% versus on-year CPI inflation of 6.6% in November, which was a 26-month low. “Proinflationary risks still prevail over disinflationary ones in the mid-term horizon.” The central bank rate had crested at 21.0% from October […] More
Expectations Solidify that Fed Will Resume Rate Cutting Next Week
September 12, 2025
The dollar is modestly firmer this Friday. It’s biggest advance overnight, a 0.4% rise against the yen, was encouraged by a joint U.S.-Japanese statement reaffirming a long-established pledge to let economic fundamentals determine exchange rate values but also asserting that sharply volatile currency swings are unwelcome. The dollar also rose 0.2% relative to sterling, the […] More
Latest Confusion: China and United States Can’t Even Agree on Whether Trade Talks Between Them Have Begun
April 25, 2025
The dollar is higher this Friday, but U.S. equities opened on a slightly downward note despite better-than-expected Google quarterly earnings reported after Thursday’s session. Dollar gains were led by moves of +0.8% against the yen and +0.7% versus the won. The dollar also climbed 0.4% relative to the Swiss franc and Australian dollar, 0.3% versus […] More
Bank of Russia Gearing Up for Possible Further Rate Hike
June 7, 2024
The Bank of Russia, where officials left the interest rate benchmark today unchanged at 16.0% and delivered the following warning after today’s policy review: Growth in domestic demand is still outstripping the capabilities to expand the supply of goods and services. The Bank of Russia holds open the prospect of increasing the key rate at its upcoming meeting. Furthermore, returning inflation to the target will require a significantly longer period of maintaining tight monetary […] More
Monetary Policy Announcements from India and Russia and Awaiting U.S. Jobs Report
June 7, 2024
The dollar marked time overnight and is currently unchanged against the euro and Swissy, down 0.1% relative to sterling and the yen but up 0.1% vis-a-vis the Canadian and Australian dollars. The Mexican peso extended yesterday’s rebound. U.S. stock futures are steady. Overseas, share prices closed down 1.0% in New Zealand, 1.1% in Indonesia, 0.6% […] More
Weak Yen, Better-Than-Expected Tech Earnings, and Bracing for U.S. PCE Data
April 26, 2024
The yen is currently trading near its overnight low of 156.86 per dollar, a trough not experienced since May 1990. The Bank of Japan’s Board meeting failed to raise interest rates further, kept planned monthly JGB purchases at around 6 trillion yen and failed to clarify a possible timetable for additional monetary policy normalization. Adding […] More
TGIF
December 15, 2023
After an exhausting but satisfying week that featured a more dovish message from the Fed, mounting hopes for a non-recessionary U.S. return to price stability from a high inflation, a slew of other central bank policy reviews, and a significant shift into riskier asset classes, Friday is a welcome site. The dollar rebounded more than […] More
Dollar Strengthens Marginally Further
October 27, 2023
A statement from the Central Bank of Chile justifying a smaller interest rate reduction after today’s scheduled meeting ties a nice bow around the interconnection of the surprisingly resilient U.S. economy, the hawkish Fed stance, geopolitical danger, elevated long-term interest rates, dollar appreciation, and the vulnerability of share prices and developing country currencies. The main […] More
