National Bank of Ukraine

Spotlight on Central Banks, Fresh Data and, as Always, Covid

April 15, 2021

The uncertain delayed roll-out of the J&J one-shot Covid vaccine is creating consternation, especially in light of high rates of new cases in many places. The National Bank of Ukraine’s policy interest rate was raised a full percentage point to 7.5%. This was the second straight tightening and twice the size of the initial 50-basis […] More

Central Bank Rate Hike in Ukraine Wasn’t Expected

March 4, 2021

Above-target inflation in Ukraine inspired officials at the National Bank of Ukraine to hike their policy interest rate by 50 basis points to 6.5%. The move was unexpected and the first tightening since a 50-basis point advance to 18.0% in September 2018. Officials had eased five times by a total of 450 basis points in […] More

Dollar Up, Equities and Bond Yields Lower, and U.S. Capitol on Alert

March 4, 2021

March 4th was the day U.S. presidents were inaugurated until the 1930s, and there’s internet chatter suggesting a possible reprise of the January 6th attack on the Capitol. Widely anticipated geopolitical traumas rarely seem to happen as planned. A notable exception occurred July 1, 1997, the day that Hong Kong reverted to Chinese rule. That […] More

Slew of U.S. Executive Orders and Central Bank Policy Reviews

January 21, 2021

President Biden’s inaugural address yesterday called for national unity to face down the many severe challenges now juxtaposed. 17 executive orders followed to reverse several polices of the Trump era. Contrary to warnings, inauguration day was free of domestic violence. U.S. stocks experienced their greatest advance on a presidential inauguration day since 1985, when Reagan […] More

No Deals and Many More Covid Cases… Also Several Central Bank Meetings

December 10, 2020

Talks last night between British Prime Minister Johnson and EU Commission President Von Der Leyden failed to achieve a trade deal. The U.S. senate grinch, Mitch McConnell, put the brakes on efforts to nail down a fiscal stimulus. U.S. Covid deaths yesterday nudged above 3k, and that pace has accelerated to 3,340 over the last […] More

Central Banks of Turkey, Ukraine, and Israel Review Monetary Policies

October 22, 2020

Instead of a follow-through measure after last month’s two percentage point rate hike, officials at the Central Bank of Turkey surprised analysts by keeping their one-week repo rate unchanged at 10.25%. Many had been expected the rate to return to its end-2019 level of 12%. The rate initially this year had been slashed by 75 […] More

Upward Bounce in the Dollar

September 3, 2020

Dollar advances today amount to 0.6% against the Australian dollar and sterling, 0.5% versus the Canadian and New Zealand dollars, and 0.3% relative to the yen and euro. A new high in the dollar was touched against Turkey’s lira after investors learned that Turkish reserves have drained to a 15-year low. The Russian ruble is […] More

Continuing Dichotomy Between Equities and Covid Spread

July 23, 2020

In the past 24 hours, the number of identified Covid-19 infections soared by 284,408 worldwide and 10,738 in the United States, and the number of associated deaths totaled 72,575 and 1,234. All four changes were greater than in the previous 24-hour period. Japanese markets are closed today and tomorrow for Marine Day and Sports Day, […] More

National Bank of Ukraine’s Policy Interest Rate Slashed Another 200 Basis points

June 11, 2020

Ukraine’s central bank rate becomes 6.0%, a record low and down from 12.5% at end-2019 and 18.0% prior to April 2019. Officials also narrowed the overnight rate corridor to 200 basis points in width (5-7%). A released statement concedes that sub-target inflation and the length of time that consumption and business investment seem likely to […] More

Rate Cut to 8% from 10% at National Bank of Ukraine

April 23, 2020

The National Bank of Ukraine slashed its policy interest rate by four times the expected amount to 8.0% from 10%, bringing the total reduction fromĀ  the three cuts this year to 450 basis points. The rate, which had crested at 18.0% from September 2018 to April 2019, is now at its lowest since March 2014. […] More

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