The past week in monetary policy saw 2 central banks cutting interest rates (Israel -25bps to 2.50%, and Thailand -25bps to 3.00%), and 1 bank cutting its reserve ratio (India cut CRR 50bps to 5.50%). Meanwhile 7 central banks held rates unchanged (Japan 0.10%, India 8.50%, Hungary 7.00%, Turkey 5.75%, New Zealand 2.50%, USA 0-0.25%, and Hong Kong 0.50%). The week also featured the US Federal Reserve announcing an inflation target of 2 percent and releasing its inaugural economic forecasts as part of its efforts to improve transparency.
Full story: http://www.centralbanknews.info/2012/01/monetary-policy-week-in-review-28.html [more]
The past week in monetary policy saw interest rate decisions announced by 8 central banks, with 4 of those announcing interest rate cuts, reflecting the ongoing European sovereign debt crisis and slowing global growth. Those announcing interest rate cuts were Brazil -50bps to 10.50%, Georgia -25bps to 6.50%, Philippines -25bps to 4.25%, and Serbia -25bps to 9.50%. Meanwhile those that held rates unchanged were Canada 1.00%, South Africa 5.50%, Mexico 4.50%, and Latvia 3.50% (Latvia did however reduce its required reserve ratios 100bps). Also making headlines was a widening of the interest rate corridor, an effective easing, in Indonesia.
Full story: http://www.centralbanknews.info/2012/01/monetary-policy-week-in-review-21-jan.html [more]
The past week in monetary policy saw interest rate decisions announced by 11 central banks, with just one announcing a change in rates (Chile -25bps to 5.00%). Those that held rates unchanged were: Sri Lanka 7.00%, Poland 4.50%, Kenya 18.00%, the EU 1.00%, UK 0.50%, Indonesia 6.00%, South Korea 3.25%, Mozambique 15.00%, Peru 4.25%, and Armenia 8.00%. Also making the news during the week in central banking was reports that Iran's central bank had raised interest rates, and the resignation of Swiss National Bank Chairman, Philipp Hildebrand.
Full story: http://www.centralbanknews.info/2012/01/monetary-policy-week-in-review-14-jan.html [more]
This article reviews the monetary policy interest rate activity of the world's central banks during 2011. The major theme of the year was monetary policy tightening, but the second half of the year featured many banks opting to reverse course or switch to outright net loosening. Indeed of the 87 central banks that Central Bank News monitors, 34 made net increases to their interest rates, while 32 held their rates net unchanged, and 21 made net reductions to their policy interest rates, many of these in the second half of the year (see: Global Interest Rate Movements: Half-Year Review). [more]
The past week in central banking and monetary policy was relatively quiet, with just 5 central banks announcing interest rate decisions. Those changing interest rate settings were: Romania -25bps to 5.75%, Bangladesh +50bps to 7.75%, and Cape Verde +150bps to 5.75%. Those that held rates unchanged were Uganda at 23.00%, and Trinidad & Tobago at 3.00%. Also making news was the signing into law of sanctions against Iran's central bank by the US, Chinese leaders commenting on the direction of monetary policy in 2012, and the ECBappointing Belgian, Peter Praet, as Chief Economist; replacing the outgoing Jurgen Stark. [more]