The past week in monetary policy saw 5 banks announcing reductions to their official interest rates: Morocco -25bps to 3.00%, Belarus -200bps to 36.00%, Romania -25bps to 5.25%, Albania -25bps to 4.25%, and Kazakhstan -50bps to 6.50%. The Bank of Zambia also announced its new benchmark interest rate would be set at 9.00%. Those that held monetary policy settings unchanged were: Israel 2.50%, Turkey 5.75%, Hungary 7.00%, Georgia 6.50%, the Czech Republic 0.75%, South Africa 5.50%, and Uruguay 8.75%.
Looking at the central bank calendar, the week ahead sees the central banks of Uganda, Australia, Kenya, Poland, the EU, and UK meeting to review monetary policy settings. The main market moving banks will be the RBA, ECB, and BoE, though none are likely to make any major moves. Elsewhere the US Federal Reserve's FOMC releases its March meeting minutes on Tuesday, and the Swiss National Bank puts out its annual report on Thursday.
Apr-02UGXUgandaBank of UgandaApr-03AUDAustraliaReserve Bank of AustraliaApr-04KESKenyaCentral Bank of KenyaApr-04PLNPolandNational Bank of PolandApr-04EUREurozoneEuropean Central BankApr-05GBPUnited KingdomBank of England
Article source: http://www.centralbanknews.info/2012/03/past-week-in-monetary-policy-saw-5.html
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The past week in monetary policy saw 8 central banks announcing monetary policy decisions. Of those that changed interest rate levels, Mauritius cut its rate -50bps to 4.90%, and Ukraine cut -25bps to 7.50%, while Iceland increased +25bps to 5.00%. Those that held interest rates unchanged were: Nigeria 12.00%, Egypt 9.25%, Thailand 3.00%, Taiwan 1.875%, and Colombia 5.25%. On the required reserves front, Egypt cut its banks required reserve ratio by 200 basis points, Ukraine also eased reserve requirements, and the People's Bank of China selectively eased reserve requirements for 396 branches of the Agricultural Bank of China. [more]
The past week in monetary policy saw 13 central banks reviewing policy settings, with 3 banks changing rates; Vietnam -100bps to 14.00%, Mozambique -125bps to 13.75%, and Norway -25bps to 1.50%. Meanwhile those that held rates unchanged were: Japan 0-0.10%, Russia 8.00%, USA 0-0.25%, Hong Kong 0.50%, Sri Lanka 7.50%, India 8.50%, Switzerland 0-0.25%, Rwanda 7.00%, Chile 5.00%, and Mexico 4.50%. Japan also announced enhancements to its loan program, and Central Bank News launched a new central banking links list series.
Full story: http://www.centralbanknews.info/2012/03/monetary-policy-week-in-review-17-march.html [more]
The past week in monetary policy and central banking saw just one central bank change interest rates, with Brazil cutting rates 75 basis points to 9.75%. Meanwhile those that held interest rates unchanged were: Australia 4.25%, Kenya 18.00%, Poland 4.50%, New Zealand 2.50%, EU 1.00%, UK 0.50%, Korea 3.25%, Serbia 9.50%, Peru 4.25%, Canada 1.00%, Malaysia 3.00%, and Indonesia 5.75%. The Reserve Bank of India also made headlines, cutting its Cash Reserve Ratio by 75 basis points to 4.75%.
Full story: http://www.centralbanknews.info/2012/03/monetary-policy-week-in-review-10-march.html [more]