National Bank of Kazakhstan
Marking Time Ahead of the U.S. PCE Price Deflator’s Release
August 29, 2025
There’s much for investors to ponder, but with about 2-1/2 hours remaining before the release of U.S. personal income and consumption, whose price deflator has the most influence on Fed policy among the various measures of inflation, financial markets are playing possum. Net overnight movement of the dollar against the euro, yen, Swiss franc, Aussie […] More
Attention to What Central Banks Are Doing with Interest Rates
June 5, 2025
The European Central Bank is widely expected to cut its interest rate for the eighth time in the past year. An anticipated 25-basis point reduction of the deposit rate to 2.0% would bring the cumulative drop to 250 basis points from peak. President Trump has been haranguing Federal Reserve Chairman Powell for not cutting interest […] More
Central Bank Rate Changes in Turkey, Kazakhstan and Euroland
March 7, 2025
Authorities at the National Bank of Kazakhstan lifted their policy interest rate today by 125 basis points to 16.5%, just 25 basis points south of the past cyclical high of 16.75% from December 2022 until August 2023. The rate had subsequently been cut toa low of 14.25% from June 2024 until a 100-basis point hike […] More
China Trade Balance, Euroland GDP & Employment Growth, and U.S. Labor Market Situation Data
March 7, 2025
With investors awaiting U.S. jobs figures due in just over a half hour, the dollar’s continues to show a soft tone, touching its lowest levels overnight in 17 weeks against the euro ($1.0871) and in a similar span against the yen of 147.2. Net dollar changes amount to a drop of 0.5% against the euro, […] More
Dollar & Equities Lifted by Persistent Hopes of Further Fed Easing
January 17, 2025
A series of U.S. price reports this week either met or undershot analyst predictions. Fears of a Fed interest rate hike have gone away for now, and hopes for one or two cuts later in 2025 remain alive. A second source of market relief came from news that the Israeli cabinet has approved the temporary […] More
Dollar Up Against Yen and Canadian Dollar but Flat Relative to Euro and Sterling
October 11, 2024
Yesterday’s U.S. CPI report delivered mixed news, so investors seek further reassurance from today’s producer price inflation due today and projected to dip modestly on both a month-on-month and year-on-year basis. Overnight trading saw the dollar advance 0.4% against the yen, 0.3% versus the Canadian dollar, and 0.2% relative to the Australian dollar, but no […] More
Rate Cut at National Bank of Kazakhstan
May 31, 2024
The National Bank of Kazakhstan‘s policy interest rate was cut today by 25 basis points to 14.5%, its lowest level in 20 months. The rate previously had been sliced by 100 basis points in the first quarter of this year and 100 bps last year. The peak of 15.75% from October 2022 until August 2023 […] More
Big Data Release Day Including Inflation Measures for the U.S., Euroland and Tokyo
May 31, 2024
Just minutes before the release of the U.S. personal consumption expenditures price deflator, the dollar showed overnight losses of 0.3% against the Canadian and Aussie currencies and 0.2% versus the euro and peso but had also risen 0.2% against the yen and 0.1% versus the Swiss franc and sterling. Ten-year German, French, Italian and Spanish […] More
Kazakhstan’s Fifth Central Bank Cut since August
February 23, 2024
To counter swelling inflation that crested a year ago at a 21st century high of 21.3%, the National Bank of Kazakhstan’s policy interest rate was 775 basis points between July 2021 and the end of 2022. After the final hike, central bank officials signaled an end to the streak but also promised not to cut […] More
Soft European Activity, A Holiday in Japan, and a Kazakhstani Central Bank Rate Cut
February 23, 2024
The dollar is marginally weaker this morning, with overnight dips of 0.3% against the Aussie dollar, 0.2% versus the Mexican peso and sterling, and 0.1% vis-a-vis the euro and Canadian dollar. Dollar/yen is steady with the Tokyo market shut in observance of the Emperor’s Birthday holiday. Ten-year sovereign debt yields have declined today by six […] More
