Central Bank of Iceland
Icelandic Interest Rate Hike
March 18, 2026
Policymakers at the Central Bank of Iceland today followed Australia’s lead yesterday, raising the Icelandic 7-day term rate by 25 basis points in a 3-2 decision that included two dissents favoring an increase of 50 basis points. It was the bank’s first rate increase since August 2023, and the new rate level becomes 7.5%, which […] More
U.S. PPI, Fed Decision and Powell’s Press Conference Loom on a Day With Many Other Central Bank Rate Decisions as Well
March 18, 2026
There’s been scant net movement in the dollar overnight. The Federal Open Market Committee is not expected to change the 3.5-3.75% federal funds target range, but today’s meeting has created considerable attention. It’s Chairman Powell’s next-to-last meeting as chairman, but he could stay on the committee into 2028 when his 14-year term as an at-large […] More
Many Purchasing Manager Surveys, Euroland CPI and PPI Reports and a Trio of Interest Rate Decisions
February 4, 2026
Gold and silver prices remain strongly bid this Wednesday following sharp rebounds yesterday. Ahead of this weekend’s snap lower house elections,the yen traded 0.2% lower overnight, bringing is relapse since Friday to 2.4% against the dollar. Prime Minister Takaichi’s Liberal Democratic Party appears likely to increase its parliamentary seat total, which would facilitate the pursuit […] More
Dollar Revival Extended
October 8, 2025
Driven by sluggish growth and political uncertainties affecting other economies, the dollar climbed overnight by a further 0.6% against the Japanese yen and Korean won, 0.4% relative to the New Zealand dollar, 0.3% vis-a-vis the euro and 0.2% versus the Swiss franc, Turkish lira and British pound. The intra-day high in the weighted DXY dollar […] More
Central Bank Rate Cuts of 25 Basis Points in Jamaica, Indonesia and Iceland
May 21, 2025
The Bank of Jamaica implemented its fifth 25-basis point reduction since last August. The new rate level of 5.75% contrasts with 7.0% maintained previously from November 2022. The vote to undertake this latest cut was unanimous and, according to a statement, justified because inflation has been inside its 4-6% target since last September and is […] More
Weakness of Bonds and Dollar Extends Further
May 21, 2025
Ten-year sovereign debt yields climbed overnight by six basis points the U.K., France, Italy and Spain, by five basis points in the United States and Germany, and by two basis points in Japan. The weighted DXY dollar index fell 0.5% so far this Wednesday to a two-week low. The intra-day low of 99.4 compares with […] More
Central Bank Rate Announcements, Geopolitical Uncertainties, and a Big Drop in the Turkish Lira
March 19, 2025
The Federal Reserve and Bank of Japan head a list of five central banks making interest rate announcements today. The BOJ Board voted unanimously to leave its overnight call interest rate unchanged at 0.50%. That matches its highest point since 1995. From 0.10% between January 2016 and March 2024, Japan’s short-term policy interest rate had […] More
Central Bank Interest Rate Changes in Moldova and Iceland
February 5, 2025
The National Bank of Moldova‘s policy rate was raised by 90 basis points today to 6.5%, its highest level since June 2023. Today’s is the second increase this year following one of 30 basis points in January. The rate had been at 3.6% from May 2024 previously. CPI inflation doubled to 7.0% by December from […] More
Continuing Firestorm of Trump Statements Overwhelms an Otherwise Busy Day of Data Releases and Central Bank Decisions
February 5, 2025
The dollar fell overnight by 0.2% against the euro, Swissy, sterling and Canadian dollar but jumped 1.2% versus China’s yuan and 0.8% relative to the Mexican peso. In other financial market action, Nasdaq futures took a notable hit. Share prices in the Pacific Rim closed up 1.6% in Taiwan, 1.1% in South Korea and 0.5% […] More
Several Points of Focus Today
November 20, 2024
Third-quarter earnings from the Nvidia, which arrive after markets close today, could be highly influential in determining where the stock market goes from here. Forward guidance from the AI chipmaker holds the key. Disinflation and sluggish growth in the euro area are the backdrop to the recent less hawkish tone of ECB officials, but today’s […] More
