The past week in monetary policy saw interest rate decisions announced by 6 central banks around the world. Of those changing rates, Georgia dropped -25bps to 7.00%, Egypt increased +100bps to 9.25%, and Colombia increased +25bps to 4.75%. Meanwhile those that held interest rates unchanged were Turkey at 5.75%, Nigeria at 12.00%, and Russia at 8.25%. Croatia also announced a cut to its Lombard rate (-275bps to 6.25%). Elsewhere, China made headlines when it was revealed that a number of rural cooperative banks were to have their required reserve ratios reversed by 50 basis points to 16.00%. Also, the ECB noted it had purchased EUR 8 billion last week, up from EUR 4.5 billion the previous week.
Full Story: http://www.centralbanknews.info/2011/11/monetary-policy-week-in-review-27-nov.html [more]
The past week in monetary policy saw just 6 central banks announcing interest rate decisions. Of those to change interest rates, Rwanda increased 50bps to 7.00%, while Belarus added 500bps to 40.00% as the country deals with hyperinflation. Those that held rates unchanged were: Japan 0-0.10%, Chile 5.25%, Sri Lanka 7.00%, and Latvia 3.50%. Elsewhere Argentina dropped dollar reserve requirements, and the World Gold Council announced record buying of gold by central banks.
Full story: http://www.centralbanknews.info/2011/11/monetary-policy-week-in-review-19-nov.html [more]
The past week in monetary policy saw interest rate decisions announced by 9 central banks around the world. Of those that changed interest rates (all dropping rates) were: Indonesia -50bps to 6.00%, Serbia -75bps to 10.00%, and Jamaica -50bps to 6.25%. Meanwhile those that held interest rates unchanged were: The UK 0.50%, South Africa 5.50%, South Korea 3.25%, Poland 4.50%, Malaysia 3.00%, and Peru 4.25%.
Full story: http://www.centralbanknews.info/2011/11/monetary-policy-week-in-review-13-nov.html [more]
The past week in monetary policy saw 8 interest rate changes announced among the 12 central banks that met to review policy settings. Of those changing interest rates, those that increased rates were: Uganda +300bps to 23.00%, Kenya +550bps to 16.50%, and Iceland +25bps to 4.75%. Meanwhile those that cut rates were: Australia -25bps to 4.50%, Fiji -100bps to 0.50%, Europe -25bps to 1.25%, Romania -25bps to 6.00%, and Denmark -35bps to 1.20%. Those that held rates unchanged were: Trinidad & Tobago 3.00%, USA 0-0.25%, Hong Kong 0.50%, and the Czech Republic 0.75%.
Full story: http://www.centralbanknews.info/2011/11/monetary-policy-week-in-review-5-nov.html [more]