National Bank of Kazakhstan

Macron Wins with 58.6% of the Vote but Recessionary Fears Extend Equity Losses Around the World

April 25, 2022

Although less than the 66.1% to 33.9% margin of victory in 2017, French President Macron was reelected, beating Le Pen by a greater margin than expected. His margin this time was still comfortable at 17.2% — 58.6% to 41.1%. Had Le Pen’s far-right National Rally captured the government, the unity of NATO against Russian aggression […] More

National Bank of Kazakhstan’s Policy Interest Rate Kept at 13.5%

March 9, 2022

Officials at the National Bank of Kazakhstan, a country which like Ukraine had been once part of the Soviet empire, had in emergency session raised their policy interest rate by 325 basis points on February 24, the day Russia invaded Ukraine. Consequently, at today’s scheduled policy review, officials did not move the interest further. Earlier […] More

A Day of Bottom-Fishing

March 9, 2022

It’s been a rough period for financial market participants since Russia invaded Ukraine on February 24. After large rises in sovereign debt yields, commodity prices, and the dollar juxtaposed against steep drops in equities, investors this Wednesday have taken their cue from the price of oil and pulled back from recent extremes. At $120.80 per […] More

National Bank of Kazakhstan Lifts Key Interest Rate by 325 Basis Points and to Over Five-Year High

February 24, 2022

In Kazakhstan, which like Ukraine had been part of the defunct Soviet Union empire, the central bank today hoisted its policy interest rate by a whopping 325 basis points to 13.50%. That increase follows hikes of 50 basis points in January and a trio of 25-bp moves in the second half of 2021. The Kazakhstan […] More

Stampede Into Safe Havens After Russia Invades Ukraine

February 24, 2022

Overnight advances of the U.S. dollar amount to 6.0% against the Russian ruble, 3.3% relative to the Ukraine hryvnia, 2.8% against the Turkish lira, 2.4% versus the Swedish krona and Brazilian real, 1.8% against the Mexican peso, 1.5% versus sterling, 1.4% vis-a-vis the euro, Korean won and New Zealand dollar, 1.2% relative to the Chinese […] More

Dollar Buoyed by Risk Aversion Ahead of FOMC Meeting and Also Fanned by Ukraine Tensions and Weak Purchasing Manager Surveys

January 24, 2022

The dollar has stremgthened 0.3% against the euro, loonie and on a weighted DXY basis. Even sharper advances can be seen of 0.7% relative to the Australian dollar and 0.5% versus sterling. The global sell-off of equities has resumed, with losses today of 2.6% in India, 1.5% in South Korea, 1.3% in New Zealand and […] More

Rate Hikes in Kazakhstan and Tajikstan

October 25, 2021

Two central banks from the former Soviet empire raised interest rates in response to rising and above-target inflation. The National Bank of Tajikstan lifted its policy rate by 25 basis points to 13.25%. The rate had been raised previously this year by a full percentage point in both April and July after an initial 25-basis […] More

Equities and Dollar Rise after Difficult Week

September 13, 2021

Equity markets in Europe have strengthened slightly more than 1.0% in Italy and Spain and by 0.7-0.9% in Germany, France and Great Britain. U.S. stock futures are up around 0.6%, but markets earlier in the Pacific Rim had given no warning as what was to come with Hong Kong’s Hang Seng index faltering 1.5% and […] More

Weather Extremes, Covid, and Sino-U.S. Government Talks on Investors’ Minds

July 26, 2021

The starting round of high level talks between China and the United States has not gone well. Much of the world including both those countries are experiencing extreme weather conditions this summer. Talk of emerging from the Covid pandemic is looking premature as reported infections rise in many places. In the United States, such reached […] More

Generally Quiet Financial Markets This Morning

June 7, 2021

Compared to Friday closing levels, the U.S. dollar is unchanged against the yuan and euro, 0.1% softer versus the yen, loonie, Swissie and sterling, and down 0.2% relative to the Australian and New Zealand dollars. Stock markets in Asia closed down 0.5% in Hong Kong and 0.4% in Taiwan but up by 0.8% in Singapore, […] More

css.php