National Bank of Ukraine
Rate Hike at National Bank of Ukraine
December 10, 2021
officials at the National Bank of Ukraine chimed in with their fifth rate hike of 2021, a 50-basis point increase to 9.0% that follows 250 basis points of tightening from the four earlier moves. In a released statement, the Executive Board acknowledges a bigger global wave of inflationary pressures and a slower-than-assumed decline of inflation […] More
Fresh Dose of Moderate Risk Aversion Attributed to Covid Concerns
December 9, 2021
Ten-year sovereign debt yields retreated overnight by four basis points in the Netherlands, Germany, France and Spain, three basis points in the United States and two basis points in Great Britain. Safe haven demand lifted the U.S. dollar by 0.6% against the Swiss franc and Mexican peso, 0.5% versus the euro and Chinese yuan, 0.4% […] More
This Year’s Fourth Central Bank Rate Hike in Ukraine
September 9, 2021
The National Bank of Ukraine‘s policy interest rate was raised for the fourth time this year. Today’s increase of 50 basis points matches the hikes done in July and March, while one in April was by a full percentage point. Altogether, the rate has been raised from 6.0% at the start of the year to […] More
Thursday Spotlight on Central Banks but Attention Also Maintained on Covid and Inflation
September 9, 2021
The dollar fell overnight by 0.3% against the Swiss franc and 0.6% versus sterling but remain unchanged on balance against the euro. Dips of 0.1% occurred against the yen and weighted DXY index. Share prices are higher in the United States and Continental Europe but are down in Great Britain. Earlier in the Pacific Rim, […] More
Ukraine’s Third Interest Rate Hike of 2021
July 22, 2021
The National Bank of Ukraine delivered a surprise, lifting its policy interest rate by another 50 basis points. There had been earlier increases this year of 50 basis points in March and 100 basis points in April. In contrast, four big reductions in 2020 had reduced the rate from 12.5% to 6.0%. Core inflation has […] More
Some Central Bank Developments and a Displeasing U.S. Labor Market Development
July 22, 2021
New U.S. jobless insurance claims last week totaled 419K, 51k greater than in the prior week, roughly 70k above street expectations, and the most in nine weeks. The news dampened the stock market euphoria of recent sessions. The dollar is little changed from its closing Wednesday levels, with dips of 0.1% against the euro, yen […] More
Parade of Other Central Banks
June 17, 2021
Markets had reacted late Wednesday to the Federal Reserve‘s signal that its initial interest rate hike is likely to occur during 2023, rather than 2024 as implied previously. Several other central banks had scheduled policy reviews whose results were learned subsequently. At the time of the opening of U.S. stock market trading on Thursday, the […] More
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
